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Tuesday, 4th November 2008 (1849 views)

Monument has announced that it has received government approval from the mines department of Pahang State, Malaysia, to construct a gold treatment plant for its Selinsing gold project.

Based in Vancouver, Canada, the company has also revealed that its board of directors has resolved to place the 100 per cent owned Selinsing project into production and has approved a CAD$17 million (£9 million) construction and development budget.

Located in the central gold belt of Pahang State, Malaysia, Selinsing 231,000 indicated and 388,000 inferred resource ounces of gold, according to Monument reports.

Production is scheduled to commence at the mine during the second and third quarters of 2009, with full production reached by the final quarter of the year and construction work on the new treatment facility will start immediately in preparation.

Gold mining and exploration firm Monument acquired Selinsing in June 2007 from Wira Mas Trust of Malaysia and has undertaken extensive project development work in order to bring the project to the construction stage.

 

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