VANCOUVER, British Columbia, Nov. 10, 2020 (GLOBE NEWSWIRE) -- Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) (“Monument” or the “Company”) announces that the Company continues to keep tight control over the second wave of the Covid-19 pandemic in the different regions it operates.
The second wave of coronavirus is hitting much of the world as the weather cools and activities move indoors. New cases of coronavirus infections have significantly increased in many countries including Canada and Malaysia where Monument operates among other countries and regions such as the United States, Europe, India, Brazil and Russia. This re-enforces more restricted measures to be in place.
CEO and President Cathy Zhai said: “As the second wave of the Covid-19 continues to grow around the world, and the extent and duration of the impacts from COVID-19 remain unclear, we are working hard to provide effective procedures across all our operations for the continued health and safety of all employees. The business sustainability plan has been periodically reviewed and adjusted to minimize production risk and the adverse impact on our cash flows, earnings, operation results and financial position.”
In Malaysia, the Conditional Control Movement Order (CMCO) issued by the National Security Council in Malaysia, covering a period of November 9 to December 6, 2020, bars inter-district travel except for work and emergency purposes. Notwithstanding the CMCO has no impact on Monument’s Selinsing Gold Mine operations as its operation site is situated in Pahang state, one of green zones exempt from CMCO with no current positive virus cases reported. Selinsing has reviewed its safety protocols and implemented a more restricted policy in controlling movements of people coming from the CMCO areas to the mine site.
In British Columbia Canada, the second wave has caused a rising number of new Covid-19 cases. The BC health officials have added new regional Covid-19 restrictions which clamp down on indoor and outdoor gatherings of any size with members outside of your immediate household, and group physical activities for a period of two weeks. As a precaution the Monument head office has closed for the two weeks duration, during which employees work from home as best practice in response to the health authority’s announcement to reduce traveling between inter-health regions.
In Western Australia, the number of current active coronavirus cases is currently very low at 10. This is mainly due to strict travel restrictions put in place earlier this year to enter Western Australia from other parts of Australia and internationally.
About Monument
Monument Mining Limited (TSX-V: MMY, FSE: D7Q1) 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 Copper-Iron 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 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
FOR FURTHER INFORMATION visit the company web site at www.monumentmining.com or contact:
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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 phrases 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 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: 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: 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 statements, except in accordance with applicable securities laws.
