VANCOUVER, British Columbia, Feb. 11, 2021 (GLOBE NEWSWIRE) -- Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) “Monument” or the “Company” announces that Mr. Robert Baldock, the founder of Monument, has decided to resign from the Chairman of the board of directors, to pursue his retirement after 18 years of service with the Company.
Ms. Cathy Zhai, the director, President and CEO comments: “It’s with a mixture of sadness and gratitude that we announce the retirement of our founder, Robert Baldock; his strong leadership, his love to people and his dedication and talent to stakeholders, and his many critical contributions to the formation and development of the Company since inception will be greatly missed.”
Ms. Zhai continued: “It will be different without Mr. Baldock, however we will continue to carry on his determination, vision and his persistence moving forward. On behalf of the board and the Company, we wish him the best, and the enjoyment of his retirement.”
Mr. Baldock joined Monument (formally “Moncoa”) in 2002 and converted it into a mining business in 2007. As a legacy, he steered it from the early beginning as a startup into the junior gold producer it is today with assets over US$253 million, over 200 employees, and a mineral portfolio in Malaysia and Western Australia including the Selinsing Gold Mine, which has been in commercial production since 2010 and generated over US$434 million in revenue to date.
Mr. Baldock had a very long career as an experienced mining executive and a qualified accountant with decades of hands-on management of public and private corporations across a wide range of industries, focused on the mining industry. Mr. Baldock has previously, since 1998 been a Director and CEO of the listed corporate entity that became Monument in 2007. He was also President of the Golconda Group which included a controlled subsidiary, Nevada Goldfields Corporation building several operating gold mines in Nevada, USA. Mr. Baldock’s role with the Golconda Group also included the role of Managing Director of Duketon Exploration Limited which made a grass roots discovery of the Duketon gold mine project in Western Australia, built the mine and mill and operated the project.
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 advancing several exploration and development projects including the Mengapur Copper-Iron Project, in Pahang State of Malaysia, and the Murchison Gold Projects comprising Burnakura, Gabanintha and Tuckanarra in the Murchison area of Western Australia. The Company employs approximately 205 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 www.monumentmining.com or contact:
Richard Cushing, MMY Vancouver T: +1-604-638-1661 x102 rcushing@monumentmining.com
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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; 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 www.sedar.com. 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; 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 www.sedar.com. 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.