Monument Announces Closing of Transaction to Sell the Mengapur Project in Malaysia
April 08, 2021 15:06 ET | Source: Monument Mining Monument Mining Vancouver, British Columbia, CANADA
Monument” or the “
Company”) is pleased to announce the closing of the Transaction with Fortress Minerals Limited (“
Fortress”) to sell Fortress a 100% interest in its Malaysian subsidiary, Monument Mengapur Sdn Bhd, which owns a 100% interest in the Mengapur Copper and Iron Project (the “
Mengapur
Project”).
The Mengapur Project is located in Pahang State, approximately 75km northwest from Kuantan. The sale of the Mengapur Project is part of Monument’s corporate restructuring to focus on the development of their gold projects in Malaysia and Western Australia.
Monument Announces Closing of Transaction to Sell the Mengapur Project in Malaysia
VANCOUVER, British Columbia, April 08, 2021 (GLOBE NEWSWIRE) Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) (“
Monument” or the “
Company”) is pleased to announce the closing of the Transaction with Fortress Minerals Limited (“
Fortress”) to sell Fortress a 100% interest in its Malaysian subsidiary, Monument Mengapur Sdn Bhd, which owns a 100% interest in the Mengapur Copper and Iron Project (the “
Mengapur
Project”).
The Mengapur Project is located in Pahang State, approximately 75km northwest from Kuantan. The sale of the Mengapur Project is part of Monument’s corporate restructuring to focus on the development of their gold projects in Malaysia and Western Australia.
Monument Mining: Monument Announces Closing of Transaction to Sell the Mengapur Project in Malaysia
Monument or the
Company ) is pleased to announce the closing of the Transaction with Fortress Minerals Limited (
Fortress ) to sell Fortress a 100% interest in its Malaysian subsidiary, Monument Mengapur Sdn Bhd, which owns a 100% interest in the Mengapur Copper and Iron Project (the
Mengapur
Project ).
The Mengapur Project is located in Pahang State, approximately 75km northwest from Kuantan. The sale of the Mengapur Project is part of Monument s corporate restructuring to focus on the development of their gold projects in Malaysia and Western Australia.
Monument has received US$30 million cash consideration in full. Under the terms of the Sale and Purchase Agreement Monument is entitled to a royalty of 1.25% of gross revenue on all products produced at the Mengapur Project.
Combining a beautiful historic building with Pueblo’s first-ever food hall is the goal of the Fuel & Iron Project focusing on a $15.3 million remodeling of the Holmes Hardware building, 400 S. Union Ave.
“When they rebuilt it in 1915, they did the identical façade but they did a concrete structure,” Stern said. “It’s built like a tank; the building is incredibly strong, so I think they were over-compensating. I think they wanted to build it back the second time in a way that would last. Of course it has lasted for 106 years and it survived the 1921 flood, so I think they were successful.
Monument to Implement Value Creation Strategy
VANCOUVER, British Columbia, Feb. 16, 2021 (GLOBE NEWSWIRE) Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) ( Monument or the Company ) is pleased to announce its corporate strategy following consultation with the Company’s board, management and advisors.
Newly appointed chairman of the Company, Graham Dickson, stated: “I am honored to be the successor to Robert Baldock as chairman of the board. Mr. Baldock has created a strong legacy for Monument and its shareholders and the board has always been aligned with his philosophy that shareholders’ value be realized through growth in the Company’s asset value. I will diligently progress this culture, stand by our stakeholders, and continue to strengthen the Company’s gold resource base, which is the best way to increase shareholders’ return.”