VANCOUVER, Feb. 6, 2015 /CNW/ - Monument Mining Limited
(TSX-V: MMY and FSE: D7Q1) ("Monument" or the
"Company") is pleased to announce that it has received the
acceptance from TSX Venture Exchange for filing a "Heads of
Agreement" between Monument and Intec International Projects
Pty Ltd ("Intec") whereby the Company has been granted an
Interim License to exploit the Intec technology with several
patents for the extraction of gold and copper from sulphide
concentrate; and subject to success of the trial commercialization
test work and certain conditions, Monument will obtain the license
rights (the "Intec License") to exploit the Intec Technology
in respect to an agreed territory which covers most of South East Asia, including Malaysia, Australia and China (together the "Intec
Transaction").
Upon acceptance the Company has issued the consideration of 14
million common shares to Intec at a deemed value of $0.25 per share, placed in escrow with release
based on achievement of certain milestones. The Company is
obligated to incur expenditures during the trial commercialization
testing period ranging from $13 million to
$15 million. The Company will update the market with the
progress of the Intec trial commercialization test work from time
to time.
This news release shall be read in conjunction with the news
release dated February 2, 2015 for
further details of the Trial Commercialization Testing Program.
About Monument
Monument Mining Limited (TSX-V: MMY, FSE: D7Q) is an established
Canadian gold producer that owns and operates the Selinsing Gold
Mine in Malaysia. Its experienced
management team is committed to growth and is advancing several
exploration and development projects including the Mengapur
Polymetallic Project, in Pahang State of Malaysia, and the
Murchison Gold Projects comprising Burnakura, Gabanintha and
Tuckanarra in the Murchison area of Western Australia. The Company employs over
300 people in both regions and is committed to the highest
standards of environmental management, social responsibility, and
health and safety for its employees and neighboring
communities.
Robert F. Baldock,
President and CEO
Monument Mining Limited
Suite 1580 -1100 Melville Street
Vancouver, BC V6E 4A6
"Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release."
Forward-Looking Statements
This news release includes statements containing
forward-looking information about Monument, its business and future
plans ("forward-looking statements"), including statements with
respect to the the proposed transaction between Monument and
Intec. The forward-looking statements in this news release
are subject to various risks, uncertainties and other factors that
could cause actual results or achievements to differ materially
from those expressed or implied by the forward-looking
statements. These risks and certain other factors include,
without limitation: risk related to the assessment of the
Intec Technology; risks related to general business, economic,
competitive, geopolitical and social uncertainties; uncertainties
regarding the results of current exploration activities;
uncertainties in the progress and timing of development activities;
foreign operations risks; other risks inherent in the mining
industry and other risks described in the management discussion and
analysis of the Company and the technical reports on the Company's
projects, all of which are available under the profile of the
Company on SEDAR at www.sedar.com. Material factors and
assumptions used to develop forward-looking statements in this news
release include: there are no further obligations of Monument
in respect of the proposed transaction with Intec; expectations
regarding the estimated cash cost per ounce of gold production and
the estimated cash flows which may be generated from the
operations, general economic factors and other factors that may be
beyond the control of Monument; assumptions and expectations
regarding the results of exploration on the Company's projects;
assumptions regarding the future price of gold of other minerals;
the timing and amount of estimated future production; the expected
timing and results of development and exploration activities; costs
of future activities; capital and operating expenditures; success
of exploration activities; mining or processing issues; exchange
rates; and all of the factors and assumptions described in the
management discussion and analysis of the Company and the technical
reports on the Company's projects, all of which are available under
the profile of the Company on SEDAR at www.sedar.com.
Although the Company has attempted to identify important factors
that could cause actual results to differ materially from those
contained in forward-looking statements, there may be other factors
that cause results not to be as anticipated, estimated or intended.
There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements. The Company does not undertake to update any
forward-looking information, except in accordance with applicable
securities laws.
SOURCE Monument Mining Limited