Jan 02, 2018
Monument Announces the Appointment of Cathy Zhai as President and CEO
Former CEO Robert Baldock will remain as Executive Chairman
Vancouver, B.C., January 02, 2018, Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) "Monument" or the "Company" is pleased to announce that the Board of Directors has resolved to appoint Mr. Robert Baldock as Executive Chairman; Ms. Cathy Zhai as President and CEO.
"I am very pleased to report the appointment of Cathy Zhai as the Company's President and CEO as the Company moves its multiple projects in Malaysia and Western Australia forward", remarks Robert Baldock, Executive Chairman of Monument Mining: "Cathy's long dedication to the Company and years of executive experience in all areas of management in the mining industry make her the right successor to lead Monument to the next chapter of growth and development."
Mr. Robert Baldock is the founder of Monument and has invaluable all-round experience as a mining executive for decades. He had been CEO and President of Monument for more than 12 years from the very beginning, and the Chairman of the Board of Directors from time to time since 1998. Under his leadership, Monument has grown from ground zero to a junior gold producer with total gross revenue of more than US$350 million to date. Today, Monument has built up strong assets of US$253 million on its balance sheet. These assets have formed a foundation for further growth, including Selinsing Gold Mine in Malaysia with its initial gold inventory being fully replaced, and the Burnakura Gold Project presently being developed at the Murchison area in Western Australia, potentially to be turned into a second cash flow generation operation with both open pit and underground gold mines. Mr. Baldock has in the meantime established and maintained a strong management team highly committed to all shareholders and other stakeholders. His leadership as Executive Chairman will continue to direct the development strategy and growth of the Company going forward.
Ms. Zhai had been the Chief Financial Officer at Monument Mining Limited since 2001 (formally Moncoa Corporation). Ms. Zhai has over 20 years of extensive experience at senior positions in business strategic planning, corporate finance, financial reporting and Corporate Secretary over mining operations and other business sectors with international exposure across North America, China, South-East Asia and Australia. She has participated in financing and development of Monument assets portfolio, and has been the main driver in the establishment of a control platform over financial and mining operations from initial stage with discipline and a "can-do" attitude. In her career, she has worked as CFO, Director of Finance and other senior roles with several public and private companies across mining, high tech, manufacturing sector and biotech industries. Ms. Zhai is a CPA-CGA and holds a B.Sc. degree in Mathematics.
Other appointments include Mark Braghieri to General Manager Operations, and Kelvin Lee to act as the interim CFO.
Mr. Braghieri has extensive mining industry experience in mine operations and development across gold, iron ore, nickel and other commodities. He has held General Management and senior roles in open pit and underground mines in a number of Australian and international mining and contracting companies, including Normandy Mining, KCGM, Thiess Contracting, Norton Gold Fields and Bullabulling Gold. Mr. Braghieri is experienced in feasibility studies, the construction and establishment of projects and operational management, and has been involved in two of the largest gold mines in Australia; the Kalgoorlie Super Pit and the Boddington Gold Mine. He holds a Bachelor of Science in Mining Engineering, and a Masters of Business Administration.
Ms Zhai, CEO and President commented: "We welcome Mark Braghieri to join the management team. His strong project management expertise and operation disciplines would be very valuable in re-starting the Burnakura Gold Mine and completing the Selinsing Sulphide Gold Project."
Mr. Lee is the Vice President, Finance and Administration of Monument since 2013. He is a CPA-CGA and holds a Diploma in accounting at BCIT and a Bachelor in Business Administration.
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 Polymetallic 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 190 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 email@example.com
Wolfgang Seybold, Axino GmbH T: +49 711-82 09 7211 firstname.lastname@example.org
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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. The Company's production decisions on the Burnakurra Project and the Selinsing Sulphide Gold Project are not based on a feasibility study of mineral reserves to demonstrate economic and technical viability. Therefore, there is some uncertainty with economic and technical risks associated with this project, including but not limited to the risk that mineral quantities and grades might be lower than expected, and construction or ongoing mining and milling operations different than expected; production and economic variables may vary considerably, due to the absence of detailed economic and technical analysis prepared in accordance with NI 43-101. There is no guarantee that production will begin as anticipated or that the production will be able to generate positive cash flow.