Sep
29
2011

Monument Mining Acquires 49% Stake in Mersing Gold Project in Malaysia

Monument Mining Ltd (MMY.V) is down 1 cent at 57 cents a share with the junior miner closing on its acquisition of a 49% stake in the Mersing gold project in Malaysia, about 300 kilometers from Monument’s Selinsing gold mine.

The company initiated a 2-year earn-in period with a $500,000 cash payment and issuing 1.5 million of its shares for a 70% stake in a Malaysian firm, Emas Kehidupan Sdn. Bhd. ( EK ), the current owner of a 70% stake at Mersing. Monument also committed to spend $2 million at the project during the next two years.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Read more: http://community.nasdaq.com/News/2011-09/monument-mining-acquires-49-stake-in-mersing-gold-project-in-malaysia.aspx?storyid=96050#ixzz1ZKJLdqAq