"It is with great pleasure that we celebrated this landmark 1,000th gold bar, which is a testament to our successful operations and the continuous hard work that has been put in by our employees and management team here at the Selinsing gold mine," general manager Charlie Northfield said.
Selinsing has been in production for almost 10 years and Monument is seeking funds to upgrade the plant to bring a new six-year sulphide mine plan into production.
The mine produced 15,763 ounces of gold in the year to June 30 at an all-in sustaining cost of US$1,040/oz.
"While Monument looks for funding its existing gold plant upgrade to sustain cash flow, it is very clear to us that the company's future relies on new gold," president and CEO Cathy Zhai said when releasing the company's full-year results in September.
She said Monument had created clear targets at Selinsing and at its Murchison gold project in Western Australia, while trial mining started this month at Peranggih with the ore to be processed at Selinsing's plant.
The company also has the Mengapur copper-iron deposit in Malaysia, where it is seeking a funding partner.
Its shares, which have ranged from C4-7.5c over the past year, were unchanged yesterday at 5c putting its market cap at $16.3 million (US$12.5 million).
