Monument in forward sales deal

MONUMENT Mining has raised US$7 million in a gold forward sales deal as it continues work to restart the Burnakura gold project in Western Australia.

Monument in forward sales deal Monument in forward sales deal Monument in forward sales deal Monument in forward sales deal Monument in forward sales deal

The Toronto-listed company has received a $5 million prepayment and will receive the balance by the end of March.

The company’s Australian subsidiary will deliver 8676 ounces of gold to Concept Capital Management over 36 months from December 29 this year.

CCM, a long-term shareholder in Monument, also has the option to purchase up to a further $2 million, or 2480oz of gold, by the end of March.

The funds raised from the prepayment will be used for development of Monument’s gold projects and working capital.

Monument said it continued to seek additional funding in order to get Burnakura into production.

Monument acquired the Murchison project, compr...