Monument Progresses Flotation Construction at Selinsing
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October 12, 2022 News Release Release #10-2022
Monument Progresses Flotation Construction at Selinsing
Vancouver, B.C., October 12, 2022, Monument Mining Limited (TSX -V: MMY and FSE: D7Q1)
("Monument" or the "Company") is pleased to report that flotation construction work progress at the
Selinsing Gold Mine in Malaysia has reached 85% completion in line with the budget. The commissioning
targets to complete in November 2022, thereafter three months ramp up period for commercial
production in January 2023.
President and CEO Cathy Zhai commented, “ We are pleased to see the team has overcome the difficult
period with the Shanghai COVID-19 pandemic lockdown and the global logistics blockage. The installation
is progressing rapidly with close monitoring. In the meantime, we have been in communications with
potential buyers to review major terms and continue to optimize saleable gold concentrates for a better
economic outcome.”
Construction Highlights
• Overall project is 85% complete to date in line with the budget
• Equipment continues to arrive at the Selinsing site; the concentrate filter press departed port on
September 24, later than expected, and plans to arrive in early November 2022
• Pre-commissioning (dry & wet) will commence in October; full commissioning targets late
November/or early December 2022.
• First concentrate production planned to commence late November 2022 , ramping up to full
production anticipated in January 2023.
Flotation Design & Engineering
To date all work related to flotation detail design and engineering have been completed , pending the
submission of application for TNB power supply upgrade from 3.8 MW to 4.0 MW.
Procurement
Overall procurement is 89% complete d, pending primarily the delivery of the filter press to the site in
November 2022.
Most equipment has been delivered to the Selinsing site , including but not limited to the flotation cells
from Beijing assembled and delivered by BGRIMM Machinery and Technology Co Ltd (Figure 1) ; the
concentrate and the water recovery thickeners supplied by Metso Outotec; flotation blowers, compressor
and compressed air dryer delivered by Atlas Copco.
First-fill flotation reagent have been purchased awaiting delivery. Transportation costs have increased due
to COVID-19 pandemic related global supply chain issues, to be offset by mine development costs. Partial
reagent consumables have been delivered and are stored inside the reagent warehouse building.
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Figure 1: View of Flotation Plant Circuit Construction
Construction
Construction work consists of foundation and civil work, steel structure work, plant equipment fabrication
and installation work, piping work, electrical cabling work, installation of plant automation system,
installation of electrical system and plant infrastructure including reagent warehouse, concentrate store
yard and drainage system at the plant area.
Flotation plant construction has achieved 85% completion to date. Earthworks, foundations, piping works
connecting reagent tanks and air supply system to flotation cells circuit have been completed. Civil works
and structural work installation are 100% completed. Mechanical installation is 96% complete with all
reagent tanks, flotation cells and thickeners installed. Pipe racks have been erected from the reagent
building to the flotation circuit, from the concentrate thickener to concentrate filter building and from the
flotation circuit to the water recovery thickener. Electrical installation is 81% complete, and the control
room is 100% complete. Pipelines have been laid and connected to pumps. Electrical installation work of
cable trays and cable pulling is now 60% completed.
The flotation plant is equipped with a plant automation system , which consists of SCADA system and
process instrumentation monitoring devices. All the pumps, flotation cell circuit, concentrate filter,
concentrate thickeners, blowers and air compressor are cont rolled using a program logic control system
(PLC Siemens & Allen Bradley). A provision backup generator of 750kVA as an emergency power supply in
case of any power failures will keep essential services running. Enertech Sdn Bhd (Siemens distributor in
Malaysia) supplied the hardware and software for the control system. The hardware for the control
system panel (PLC) was delivered to site and installed in the prefabricated power substation (E -House),
together with the motor control centre panel (MCC).
Other infrastructure includes: the reagent warehouse, the air services building, the concentrate filter
building, and other facilities. The reagent storage warehouse and the air service building are constructed.
Dosing pump has been installed inside the reagent building with foundation and steel structure work
completed. Plate work of bag breakers, reagent mixing tanks with agitator equipment are installed. The
compressor and the flotation blowers have been installed in the air service building . Foundation and
structure work for the concentrate filter building (Figure 2) is completed , and most of the roof and
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cladding have been done, awaiting installation of the filter press.
Figure 2: Concentrate Filter Building
Mine Development
Pre-stripping and sulphide ore stockpile mining were started at Buffalo Reef in July 2022 in preparation
for: the completion of the flotation plant, the start of commissioning and the ramp up of production. The
tailings storage facility (“TSF”) construction has been completed for current year tailing storage
requirements. The river diversion at Buffalo Reef has been completed.
Commissioning
Commissioning work is expected to start in October and completed in November 2022. Commissioning
scope of work will be divided into dry, wet and ore commissioning. Upon completion of the commissioning
work production will be ramped up.
About Monument
Monument Mining Limited (TSX-V: MMY, FSE:D7Q1) is an established Canadian gold producer that 100%
owns and operates the Selinsing Gold Mine in Malaysia and the Murchison Gold Project in the Murchison
area of Western Australia. It has 20% interest in Tuckanarra Gold Project jointly owned with Odyssey Gold
Ltd in the same region. The Company employs approximately 200 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.
Cathy Zhai, President and CEO
Monument Mining Limited
Suite 1580 -1100 Melville Street
Vancouver, BC V6E 4A6
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FOR FURTHER INFORMATION visit the company web site at www.monumentmining.com or contact:
Richard Cushing, MMY Vancouver T: +1-604-638-1661 x102 [email protected]
"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 Statement
This news release includes statements containing forward -looking information about Monument, its business and future plans
("forward-looking statements"). Forward-looking statements are statements that involve expectations, plans, objectives or future
events that are not historical facts and include the Company's plans with respect to its mineral projects and the timing and results
of proposed programs and events referred to in this news release. Generally, forward -looking information can be identified by
the use of forward -looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and p hrases
or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved ". The
forward-looking statements in this news release are subject to various risks, uncertainties and other factors that could c ause
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: risks related to general business, economic, competitive, geopol itical and
social uncertainties; uncertainties regarding the results of current exploration activities; uncertainties in the progress an d timing
of development activities; foreign operations risks; other risks inherent in the mining industry and other risk s 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 devel op
forward-looking statements in this news release include: 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; th e 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 factor s 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 sta tements 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 statements, except in accordance with applicable securities laws.