Introduction to MMY
posted on
Feb 11, 2009 02:01AM
Edit this title from the Fast Facts Section
Hi to all,
Thanks Agoracom for this Hub.
First of all read the latest news from MMY:
Monument Confirms Amended Plan for Gold Production from Phase I Gravity Plant :
http://ca.news.moneycentral.msn.com/...
Monument Mining Ltd. (MMY - TSX Venture, D7Q1 - FWB), announces that it has completed its amended construction plan. Under this plan, mining is scheduled to commence in May 2009 and production of gold from the Phase I gravity plant commences in August 2009 . The projected cost of Phase I is $10.0 Million less $2.40 Million spent to 31 December 2008 on the project leaving a balance to completion of Phase I of $7.6 Million which the Company has available from $11.4 Million cash on hand as at the date of this release.
And then read this Coverage:
http://newscaster.creativespirit.bc....
The Company is fully funded to production at its Selinsing gold mine, and expects to be producing gold in the second half of 2009. Cash fl ow starting in fi scal 2009 from Selinsing, and later from Buffalo Reef, is expected to provide the Company with opportunities to fund new gold discoveries in the region, including the prospective exploration land package adjacent to Selinsing and Buffalo Reef.
70,12 Mio stocks are already taken by Warrants for 0,4 CAD or 0,5 CAD and with that they hold almost 50% of this company.
Company has a lot of cash and they will start in August with production. They have gold mine so price of Gold will directly influence the price of this stock. There is no danger of dilution or some bad results. Next news we can expect in April. But everything is going well and Gold mine will start produce Gold!
Because of everything my short term target is 0,45 CAD and with spike in price of gold maybe this year we can expect 1 CAD. With this I think that price of 0,27 CAD is very cheap.
Other my shares are FWR, NDM and EVG. I hope that all those shares will have lot of success this year, specially with this Gold price explosion.
I hope that this help to everybody to make a good DD.
Have a lot of luck with your Investments!