Monument Mining Limited
Anticipating Record Gold Production and EPS
Published: 7/4/2024
Author: FRC Analysts
Sector: Basic Materials | Industry: Gold
Ticker Symbols:MMY.V - NEO 🔹MMTMF - NASDAQ 🔹
Rating and Key Data
| Metrics | Value |
|---|---|
| Current Price | CAD $0.14 |
| Fair Value | CAD $0.51 |
| Risk | 4 |
| 52 Week Range | CAD $0.09-0.20 |
| Shares O/S (M) | 328 |
| Market Cap. (M) | CAD $48 |
| Current Yield (%) | N/A |
| P/E (forward) | 4.1 |
| P/B | 0.3 |
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Report Highlights
- We are resuming coverage on MMY. Monument owns gold projects in Malaysia and Western Australia. Its 100% owned Selinsing gold mine has been operational for 14 years, producing 363+ Koz to date.
- In late 2023, the company began processing higher-grade sulfide materials after depleting all oxide resources. With over 700 Koz of sulfide resources remaining, we believe the mine could produce up to 14 more years, with annual production projected to rise to 40 Koz from the previous five-year average of 12.5 Koz.
- In FY2024 (9M), MMY produced 20 Koz gold, up 225% YoY. Cash costs declined YoY, from $1,536 to $878/oz. Margins improved, and both net income and free cash flows turned positive.
