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It may surprise you: Great Panther Mining Limited (AMEX:GPL -4.48%), Northern Lights Acquisition Corp. (NASDAQ:NLITW 10.56%)

There are two main reasons why moving averages are useful in forex trading: moving averages help traders define trend recognize changes in trend. Now well…

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This article was originally published by Stocks Equity

There are two main reasons why moving averages are useful in forex trading:

  • moving averages help traders define trend
  • recognize changes in trend.

Now well have a look on, SMA50 & SMA200

The 50-day simple moving average (SMA) is used by traders as an effective trend indicator.

GPL has seen its SMA50 which is now -10.69%. In looking the SMA 200 we see that the stock has seen a -34.74%.

NLITW has seen its SMA50 which is now 3.26%. In looking the SMA 200 we see that the stock has seen a 3.26%.


Now as an added measure to ensure you only trade with the main trend, the 200 SMA can be used a further filter.

  • if 10 and 20 SMA are above the 200 SMA only take long positions.
  • if 10 and 20 SMA are below the 200 SMA only take short positions.

On 09-09-2021 (Thursday) Shares of Great Panther Mining Limited (AMEX:GPL) encountered a difference of -4.48% after which it shut the day’ session at $0.49. The volume added 1,121,505 shares which compares with the average volume of 1.54M shares.

Great Panther Mining Limited, a Canada based Company, belongs to Other Industrial Metals & Mining sector industry. Shares of Great Panther Mining Limited was among the active stocks of the last exchanging sessions.


The stock value instability stayed at 4.69% in recent month and ranges at 3.73% for the week. The Average True Range (ATR) is also a measure of volatility is presently sitting at 0.03. The firm demonstrates the market capitalization of $180.11M.

Important Results:

Great Panther Mining Limited has P/S value of 0.72 while its P/B esteem remains at 1.71. Likewise, the company has Return on Assets of 0, Return on Equity of 21.00% and Return on Investment of 34.00%. The company demonstrates Gross Margin and Operating Margin of 25.70% and 14.30% respectively.

Forward P/E of Great Panther Mining Limited is remaining at 2.34. Forward P/E is a measure of the price-to-earnings ratio using forecasted earnings for the P/E calculation for the next fiscal year.

Technical Analysis of Great Panther Mining Limited GPL:

The stock price moved with change of 16.85% to its 50 Day low spot and changed -23.30% contrasting with its 50 Day high point. GPL stock is as of now appearing down return of -1.17% all through a week ago and saw bearish return of 6.31% in one month span. The execution of company -27.05% in three months and -37.45% throughout the previous a half year exchanging period.

Tracking the closing price and 52-week high, the current price movement shows that the stock price positioned negative when compared against the 52-week high. As close of recent trade, stock represents -57.68%move from 52-week high. Tracing the 52-week low position of the stock, we noted that the closing price represents a 16.85% higher distance from that low value. Technical analysts compare a stock’s current trading price to its 52-week range to get a broad sense of how the stock is doing, as well as how much the stock’s price has fluctuated. This information may indicate the potential future range of the stock and how volatile the shares are.

Northern Lights Acquisition Corp. (NASDAQ:NLITW)’s Analysis & Performances to Discover

Northern Lights Acquisition Corp., belongs to Financial sector and Shell Companies industry. The company’s total Outstanding Shares of 0. NLITW flaunted 10.56% to reach at $0.47 during previous trading session. The company has experienced volume of 25 shares while on average the company has a capacity of trading 77.19K share.

Observing the Technical Indicators:

Northern Lights Acquisition Corp. institutional ownership is held at 0 while insider ownership was 0. As of now, NLITW has a P/S, P/E and P/B values of 0, 0 and 0 respectively. Its P/Cash is valued at 0.

The Company’s net profit margin for the 12 months at 0. Comparatively, the gazes have a Gross margin 0.

Profitability ratios:

Looking into the profitability ratios of NLITW stock, an investor will find its ROE, ROA, ROI standing at 0, 0 and 0, respectively.

Reading RSI Indicator

Northern Lights Acquisition Corp. (NLITW) attained alert from day Traders as RSI reading reached at 0. Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements. RSI oscillates between zero and 100. Traditionally, and according to Wilder, RSI is considered overbought when above 70 and oversold when below 30. Signals can also be generated by looking for divergences, failure swings, and centerline crossovers. RSI can also be used to identify the general trend. These traditional levels can also be adjusted to better fit the security or analytical requirements. Raising overbought to 80 or lowering oversold to 20 will reduce the number of overbought/oversold readings. Short-term traders sometimes use 2-period RSI to look for overbought readings above 80 and oversold readings below 20.

Earnings per Share Details of Northern Lights Acquisition Corp.:

The EPS of NLITW is strolling at 0, measuring its EPS growth this year at 0. As a result, the company has an EPS growth of 0 for the approaching year.

Given the importance of identifying companies that will ensure earnings per share at a tall rate, we later obsession to umpire how to identify which companies will achieve high amassing rates. One obvious showing off to identify high earnings per portion count together companies are to locate companies that have demonstrated such build up beyond the p.s. 5 to 10 years.

What Does the Payout Ratio Tell You?

The payout ratio is a key financial metric used to determine the sustainability of a company’s dividend payments. It is the amount of dividends paid to shareholders relative to the total net income of a company.

Formula for the Payout Ratio Is

“Payout Ratio = Dividends / Earnings”

Is It Overvalued? Look at the Payout Ratio of GPL, NLITW

The payout ratio shows the proportion of earnings paid out as dividends to shareholders, typically expressed as a percentage of the company’s earnings. The payout ratio can also be expressed as dividends paid out as a proportion of cash flow. The payout ratio is also known as the dividend payout ratio. GPL has a Payout Ratio of 0.00% and NLITW has a Payout Ratio of 0.

The post It may surprise you: Great Panther Mining Limited (AMEX:GPL -4.48%), Northern Lights Acquisition Corp. (NASDAQ:NLITW 10.56%) appeared first on Stocks Equity.

Today’s News

Granada Gold Mine Extends Warrant Terms


Rouyn Noranda, Q.C. – TheNewswire – September 24, 2021 – Granada Gold Mine Inc. (TSXV:GGM) (OTC:GBBFF) (Frankfurt:B6D) (the “Company” or “Granada”)…

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Rouyn Noranda, Q.C. - TheNewswire - September 24, 2021 - Granada Gold Mine Inc. (TSXV:GGM) (OTC:GBBFF) (Frankfurt:B6D) (the “Company” or “Granada”) announces that it will be extending the expiry date of an aggregate 6,861,806 share purchase warrants (the "Warrants") by two years.  The 6,861,806 Warrants are due to expire on October 18 and November 6, 2021. The expiry date will be extended by two years and the Warrants will now expire on October 18 and November 6, 2023.  All other terms and conditions remain constant.


The private placement units were issued at a price of $0.15 per unit and consisted of one common share and one Warrant entitling the holder to purchase one additional common share at an exercise price of $0.15 per share for a period of three years from closing.  The amendment is subject to the approval of the TSX Venture Exchange.


About Granada Gold Mine Inc.


Granada Gold Mine Inc. continues to develop and explore its 100% owned Granada Gold Property near Rouyn-Noranda, Quebec, and is adjacent to the prolific Cadillac Break. The Company owns 14.73 square kilometers of land in a combination of mining leases and claims. The company is currently undergoing a large drill program with 30,000m out of 120,000m complete. The drills are currently paused to provide the technical team with the necessary time to evaluate and assimilate existing data.


The Granada Shear Zone and the South Shear Zone contain, based on historical detailed mapping as well as from current and historical drilling, up to twenty-two mineralized structures trending east-west over five and a half kilometers. Three of these structures were mined historically from four shafts and three open pits. Historical underground grades were 8 to 10 grams per tonne gold from two shafts down to 236 m and 498 m with open pit grades from 3.5 to 5 grams per tonne gold.


The property includes the former Granada Gold underground mine which produced more than 50,000 ounces of gold at 10 grams per tonne gold in the 1930’s from two shafts before a fire destroyed the surface buildings.  In the 1990’s, Granada Resources extracted a bulk sample (Pit #1) of 87,311 tonnes grading 5.17 g/t Au.  They also extracted a bulk sample (Pit # 2) of 22,095 tonnes grading 3.46 g/t Au.  


“Frank J. Basa”

Frank J. Basa, P. Eng.

Chief Executive Officer


For further information, Contact:

Frank J. Basa, P.Eng.

Chief Executive Officer

P: 416-625-2342




Wayne Cheveldayoff,

Corporate Communications

P: 416-710-2410



Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements.


Copyright (c) 2021 TheNewswire - All rights reserved.

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Today’s News

Commerce Resources Corp. Announces Warrant Extension and Repricing

VANCOUVER, BC / ACCESSWIRE / September 24, 2021 / Commerce Resources Corp. (the "Company") (TSXV:CCE)(FSE:D7H0)(OTCQX:CMRZF) announces that it has applied…

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VANCOUVER, BC / ACCESSWIRE / September 24, 2021 / Commerce Resources Corp. (the "Company") (TSXV:CCE)(FSE:D7H0)(OTCQX:CMRZF) announces that it has applied to the TSX Venture Exchange (the "Exchange") for an amendment to the terms of the 9,674,153 warrants (the "Warrants") issued in connection with the Company's private placement which held its first closing on October 11, 2019 and second closing on October 31, 2019. The Company proposes to extend the expiry date of the Warrants from October 11, 2021 to October 11, 2024 in respect of the first closing and October 31, 2021 to October 31, 2024 in respect of the second closing. In addition, the Company has applied for an amendment of the Warrants' exercise price from $0.50 to $0.285. All other terms of the Warrants will remain the same. The extension of the expiry date and repricing is subject to the approval of the Exchange.

About Commerce Resources Corp.

Commerce Resources Corp. is a junior mineral resource company focused on the development of the Ashram Rare Earth and Fluorspar Deposit located in Quebec, Canada. The Company is positioning to be one of the lowest cost rare earth producers globally, with a specific focus on being a long-term supplier of mixed REC and/or NdPr oxide to the global market. The Ashram Deposit is characterized by simple rare earth (monazite, bastnaesite, xenotime) and gangue (carbonates) mineralogy, a large tonnage resource at favourable grade, and has demonstrated the production of high-grade (>45% REO) mineral concentrates at high recovery (>70%) in line with active global producers. In addition to being one of the largest rare earth deposits globally, Ashram is also one of the largest fluorspar deposits globally and has the potential to be a long-term supplier to the met-spar and acid-spar markets.

For more information, please visit the corporate website at or email

On Behalf of the Board of Directors

"Chris Grove"

Chris Grove
President and Director
Tel: 604.484.2700

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Commerce Resources Corp.

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Today’s News

Monument Reports Fourth Quarter and Fiscal 2021 Results

Gross Revenue of $23.24 Million and Cash Cost of US$1,178/OzVANCOUVER, British Columbia, Sept. 24, 2021 (GLOBE NEWSWIRE) — Monument Mining Limited (TSX-V:…

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Gross Revenue of $23.24 Million and Cash Cost of US$1,178/Oz

VANCOUVER, British Columbia, Sept. 24, 2021 (GLOBE NEWSWIRE) -- Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) “Monument” or the “Company” today announced its annual financial results for the year ended June 30, 2021. All amounts are in United States dollars unless otherwise indicated (refer to for full financial results).

President and CEO Cathy Zhai commented: “During this fiscal year, Monument has focused on consolidating the asset portfolio by spinning off the Mengapur base metal project and placing the Tuckanarra Gold Project into a joint venture. The restructured gold focused portfolio provides potential catalysts for re-rating the share price going forward into fiscal 2022 and beyond for our shareholders.

“For the same reason, as of June 30, 2021, we established a solid financial position with $38.62 million in cash and cash equivalents on hand. The strengthened cash reserves allow us to support and implement the corporate value creation strategies, especially to fund the Selinsing gold treatment plant expansion and exploration of Murchison. Monument is open to all corporate development opportunities to optimize our future growth and shareholders value moving forward”.

Ms. Zhai further commented: “With the continued challenges from the global Covid-19 pandemic that caused more than six weeks mine shut down during the year, Selinsing Gold Mine produced positive cash flow in 2021 from mining super-low grade ore, leachable sulphide ore and Peranggih materials, which has brought our aggregated Selinsing Gold Mine production to 325,509 ounces at an average cost of $535 per ounce with gross revenue of $452.1 million, gross margin of $279.3 million and net cash from production of $275 million. Looking forward, our management team will continue to work hard with the “Can Do” attitude and the philosophy of “being a doer” in delivering our commitment to our shareholders.”

Fiscal 2021 Highlights:

  • Restructured assets to a gold focused portfolio by spinning out Mengapur copper and iron project;
  • Two staged Selinsing gold plant conversion with the flotation plant construction commenced and fully funded;
  • Murchison Project exploration strategized to test potential gold discovery and upside;
  • Tuckanarra Joint ventured with Odyssey fast tracking exploration and development;
  • Selinsing Gold Mine continued with leachable sulphide ore production transitioning to new life of mine

Fourth Quarter and Fiscal 2021 Production and Financial Highlights

 Three months ended June 30,Year ended June 30,
Ore mined (tonnes) 72,074 42,331 427,528 263,074
Waste removed (tonnes) 687,255 463,228 3,639,490 2,887,441
Ore processed (tonnes) 94,940 68,961 579,569 675,708
Average mill feed grade (g/t) 0.72 1.06 0.84 1.11
Processing recovery rate (%)64%67%61%71%
Gold production (1) (oz) 1,838 2,311 10,282 17,360
Gold sold (oz) 3,473 3,282 12,850 19,401
Financial (in thousands of US dollars)$$$$
Revenue 6,085 5,404 23,236 29,971
Gross margin from mining operations 1,270 2,652 8,103 12,944
Net income before other items (1,009)704 1,696 4,509
Net loss (2,702)(1,273) (99,318)(275)
Cash flows generated from operations 2,208 657 1,654 6,273
Working capital 48,539 18,786 48,539 18,786
Loss per share before other items – basic (US$/share) (0.00)0.00 0.01 0.01
Loss per share – basic (US$/share) (0.01)(0.00) (0.31)(0.00)

 Three months ended June 30,Year ended June 30,
Average realized gold price per ounce sold (2)1,8121,6841,8641,563
Cash cost per ounce (3)    
Operations, net of silver recovery1281012
Total cash cost per ounce 1,3868381,178878
All-in sustaining costs per ounce (4)    
By-product silver recovery1111
Operation expenses1191794640
Corporate expenses 3 666
Accretion of asset retirement obligation912109
Exploration and evaluation expenditures25452232
Sustaining capital expenditures104174162171
Total all-in sustaining cost per ounce 1,647 1,255 1,425 1,136

(1)Defined as good delivery gold bullion according to London Bullion Market Association (“LBMA”), net of gold doŕe in transit and refinery adjustment.
(2)Exclude gold prepaid delivery for comparison purposes.
(3)Total cash cost includes production costs such as mining, processing, tailing facility maintenance and camp administration, royalties, and operating costs such as storage, temporary mine production closure, community development cost and property fees, net of by-product credits. Cash cost excludes amortization, depletion, accretion expenses, capital costs, exploration costs and corporate administration costs.
(4)All-in sustaining cost per ounce includes total cash costs, operation expenses, and adds sustaining capital expenditures, corporate administrative expenses for the Selinsing Gold Mine including share-based compensation, exploration and evaluation costs, and accretion of asset retirement obligations. Certain other cash expenditures, including tax payments and acquisition costs, are not included.

2021 Gold Production

Production Analysis

  • Gold production of 10,282oz, a 41% decrease as compared to 17,360oz of the previous year. Gold production for the year ended June 30, 2021 was mainly from transitional leachable sulphide ore from Selinsing Pit 4 & Pit 5, oxide ore from Peranggih and old tailings materials. This resulted in lower mill feed grades and lower recovery rates.
  • 2021 mining activities delivered 427,528 tonnes of ore from Selinsing (259,459 tonnes), Buffalo Reef (27,642 tonnes), Felda (13,022 tonnes) and Peranggih (127,405 tonnes). Mining costs for Peranggih were recorded against inventories for 127,405 tonnes during the year, of which 118,688 tonnes were fed into the mill.
  • Ore processed decreased to 579,569 tonnes from 675,708 tonnes last year. The decreased was due to the lack of availability of stockpiled ore. Ore stockpile has significantly reduced mainly due to the adverse impact of the shortage of explosive supplies in the first quarter resulting in a lower mining rate. COVID-19 pandemic has not helped in achieving the target. The Company has devoted its effort to improve the stockpile balance.
  • Total production costs $15.13 million as compared to $17.03 million of last year. Cash cost per ounce increased by 34% to $1,178/oz as compared to $878/oz of last year. The increase was attributable to a 24% decrease in the mill feed grade from 1.11g/t to 0.84g/t and a decrease in recovery to 60.8% (2020: 70.9%) as a result of processing significantly more leachable sulphide ore and other low recovery ores.

Financial Analysis

  • Gold sales generated revenue of $23.24 million for the year as compared to $29.97 million from last year. Gold sales revenue was derived from the sale of 10,700oz (2020: 16,750oz) of gold at an average realized gold price of $1,864 per ounce (2020: $1,563 per ounce) and the delivery of 2,150oz (2020: 2,651oz) in fulfilling gold prepaid obligations at an average London Fix PM gold price of $1,525 per ounce (2020: $1,429 per ounce).
  • Mining operations before non-cash amortization and depreciation generated a gross margin of $8.10 million, a decrease of 37% from $12.94 million from the previous year. The decrease in gross margin was attributable to the decrease in gold sold offsite by a higher average realized gold price.
  • Cash and cash equivalents balance as at June 30, 2021 was $38.62 million, an increase of $28.50 million from the balance at June 30, 2020 of $10.13 million. As at June 30, 2021, the Company had positive working capital $48.54 million (June 30, 2020: $18.79 million). The increase in working capital was mainly due to the increase in cash and cash equivalents.
  • Cashflow from investing activities for the year was $26.87 million (2020: outflow of $5.47 million), which was mainly from the sale of the Mengapur project of $29.16 million and the sale of 80% interest in Tuckanarra project of $2.66 million.


Selinsing Gold Mine

This year the Company commenced to develop the Selinsing Sulphide Project into production through a two stages de-risking process in order to reduce the initial upfront investment required. Stage 1 is the construction of a flotation plant aimed to produce saleable gold concentrates and stage 2 is the construction of a BIOX ® leaching plant to treat third party concentrates should a niche market be successfully established.

Selinsing Flotation construction will take approximately 15 months to be completed for an estimated $20 million, including flotation plant optimization and engineering, procurement, construction and commissioning, and securing off-take agreements. Flotation test work was completed at the Selinsing on-site lab to determine the optimum concentrate gold grade and recovery for maximizing revenue. The positive results were independently tested at Bureau Veritas Laboratory under Orway Mineral Consultant’s (“OMC”) supervision.

OMC completed the process plant design in June 2021, and submitted the flotation process engineering design including the process design criteria, major equipment summary, flowsheet, mass balance and consumables estimates, as a modification to the flotation conceptual engineering design that reported in the Snowden feasibility study in February 2019. The new set of design criteria would allow Selinsing to produce gold concentrates as a final product for sale.

Further development work was carried out including: an underground mining desktop study, Tailings Storage Facility development, and mining cutback and test work for oxide mining assessment at Peranggih in order to sustain Selinsing gold production.

Murchison Gold Project

At Murchison development work took place to re-assess early production opportunity. The mine plan was completed by management and the independent review conducted by SRK, which covered geotechnics, hydrology and environmental compliance in addition to resource modelling, mining optimization and scheduling, and metallurgical recoveries. The follow up work has been recommended and considered by the Company. As a part of the value creation strategies, the Company has taken direction to focus on regional exploration to test potential for larger gold production at Murchison pending on new gold discoveries. The geological study has been conducted to further identify and optimize regional exploration targets. Geological data has been further investigated and integrated to the database. As a result, the phase one exploration program was commenced subsequent to the end of the year in July 2021.

Major Transactions

Tuckanarra Joint Venture (“JV”)

In October 2020 Monument entered into a JV arrangement with Odyssey Gold Ltd. (“Odyssey”) to advance the Tuckanarra Gold Project, and in December 2020 sold an 80% interest in Tuckanarra to Odyssey for AUD$5 million subject to certain conditions, leaving Monument with a 20% free carried interest and a 1% NSR royalty over Odyssey’s 80% interest in the property. Odyssey will be solely responsible for funding the exploration and evaluation activities at Tuckanarra until a decision to mine is reached. The future processing of ore from tenements held by Odyssey through the Burnakura plant remains an option should commercial terms be reached.

Mengapur Copper-Iron Project Divestment

Monument closed a transaction with Fortress Minerals in April 2021 to sell 100% interest in the Mengapur Copper and Iron Project. The sale is part of the Company’s corporate restructuring to focus on the development of the gold portfolios in both Malaysia and Western Australia. Monument sold Mengapur Copper and Iron Project for US$30,000,000 in cash, and will also receive a 1.25% gross revenue royalty on all products produced at the Mengapur Project.



A Reverse Circulation (RC) drilling program was completed at Selinsing which consisted of 1,128m over 19 holes at Pits 4, 5, and 6. A total of 1,335 including 225 QAQC samples were assayed. The drill program aimed to identify and define mineralization areas with average grades that can be immediately mined economically in the current CIL plant. The main drilling target was the shallow dipping structure extension close to the east flank of the pits. The drilling program resulted with several significant intercepts.

An RC drill program was undertaken at Peranggih to upgrade the grade and ounces of mineralized material based on previous close spaced drilling results. The first phase was completed in April 2021 with 1,697m drilled over 34 holes. The second phase drilling includes completing 420m over 9 holes and additional drilling progressed at year end. Drill assays received from the Selinsing Mine lab showed moderate to high grade interceptions. RC drilling costs were recorded under Exploration and Evaluation assets.

Western Australia

In fiscal 2021, Monument announced the results of the drilling program carried out from February to May 2020, which confirmed the continuity of gold mineralization within identified structures and favorable lithology from existing mineral resources. The Company decided to begin regional exploration potential assessment and commenced work on a 2-year exploration strategy designed to test beneath cover for potential mineralization that is aimed to lead to the discovery of shallow stand alone or satellite gold deposits, aiming to add significant additional resources to the current resource base. The strategy will involve testing down dip of high-grade mineralization underneath existing pits as well as test some of the high priority regional targets through Greenfield exploration of the land package at Burnakura and Gabanintha. Field work permitting activities have continued with ground preparation activities during the fourth quarter, and the first stage of drilling started, subsequent to the end of the year.

About Monument

Monument Mining Limited (TSX-V: MMY, FSE:D7Q1) is an established Canadian gold producer that owns and operates the Selinsing Gold Mine in Malaysia. Its experienced management team is committed to growth and is also advancing the Murchison Gold Projects comprising Burnakura, Gabanintha and Tuckanarra JV (20% interest) in the Murchison area of Western Australia. The Company employs approximately 200 people in both regions and is committed to the highest standards of environmental management, social responsibility, and health and safety for its employees and neighboring communities.

Cathy Zhai, President and CEO
Monument Mining Limited
Suite 1580 -1100 Melville Street
Vancouver, BC V6E 4A6

FOR FURTHER INFORMATION visit the company web site at or contact:

Richard Cushing, MMY VancouverT: +1-604-638-1661

"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

Forward-Looking Statement

This news release includes statements containing forward-looking information about Monument, its business and future plans (“forward-looking statements”). Forward-looking statements are statements that involve expectations, plans, objectives or future events that are not historical facts and include the Company’s plans with respect to its mineral projects and the timing and results of proposed programs and events referred to in this news release. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". The forward-looking statements in this news release are subject to various risks, uncertainties and other factors that could cause actual results or achievements to differ materially from those expressed or implied by the forward-looking statements. These risks and certain other factors include, without limitation: risks related to general business, economic, competitive, geopolitical and social uncertainties; uncertainties regarding the results of current exploration activities; uncertainties in the progress and timing of development activities; foreign operations risks, including risks related to changes in mining license rights, tax rates and government royalty requirements; other risks inherent in the mining industry and other risks described in the management discussion and analysis of the Company and the technical reports on the Company’s projects, all of which are available under the profile of the Company on SEDAR at Material factors and assumptions used to develop forward-looking statements in this news release include: expectations regarding the estimated cash cost per ounce of gold production and the estimated cash flows which may be generated from the operations, general economic factors and other factors that may be beyond the control of Monument; assumptions and expectations regarding the results of exploration on the Company’s projects; assumptions regarding the future price of gold of other minerals; the timing and amount of estimated future production; the expected timing and results of development and exploration activities; costs of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; exchange rates; expected mining rights, tax rates, and government royalty requirements in the jurisdictions in which the Company operates; and all of the factors and assumptions described in the management discussion and analysis of the Company and the technical reports on the Company’s projects, all of which are available under the profile of the Company on SEDAR at Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.

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