Monument Mining Limited
Record Revenue / EPS Turns Positive
Published: 10/21/2024
Author: FRC Analysts
Sector: Basic Materials | Industry: Gold
Ticker Symbols:MMY.V - NEO 🔹MMTMF - NASDAQ 🔹
Rating and Key Data
| Metrics | Value |
|---|---|
| Current Price | CAD $0.25 |
| Fair Value | CAD $0.56 |
| Risk | 4 |
| 52 Week Range | CAD $0.10-0.26 |
| Shares O/S (M) | 328 |
| Market Cap. (M) | CAD $82 |
| Current Yield (%) | N/A |
| P/E (forward) | 4.0 |
| P/B | 0.5 |
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Report Highlights
- MMY is up 72% since our previous report in July 2024. Despite the uptick, MMY remains heavily discounted at 1.2x forward EBITDA, compared to the sector average of 6.0x, an 81% discount.
- Monument owns gold projects in Malaysia and Western Australia. Its 100% owned Selinsing gold mine has been operational for 14+ years, producing 375+ Koz to date. With over 700 Koz of sulfide resources remaining, we believe the mine could produce up to 14 more years
- In FY2024 (ended June 2024), MMY produced 32 Koz, up 335% YoY, beating our estimate by 7%. Cash costs declined by 6% YoY to $866/oz vs our estimate of $900/oz.
- Revenue was up 3
