Monument Mining Reports Promising Drill Results for Selinsing Mine Expansion

Monument Mining ( (TSE:MMY) ) has provided an announcement.

Monument Mining Limited has announced the results of the first 16 drill holes from its Selinsing Mine expansion drilling program. The program aims to increase gold resources and potentially extend the life of the mine. The drilling has shown promising high gold assay results, which could support the expansion of the Buffalo Reef/Felda pit. With a budget of USD $2.5 million, the company plans to complete the expansion drilling by June 2026, potentially developing a large-scale open pit, which may impact future operations and stakeholder interests.

The most recent analyst rating on (TSE:MMY) stock is a Buy with a C$1.50 price target. To see the full list of analyst forecasts on Monument Mining stock, see the TSE:MMY Stock Forecast page.

Spark’s Take on TSE:MMY Stock

According to Spark, TipRanks’ AI Analyst, TSE:MMY is a Outperform.

Monument Mining’s strong financial performance and positive corporate events are the main contributors to the stock’s score. While the valuation suggests the stock is undervalued, mixed technical indicators present some caution. The company’s strategic initiatives and robust financial health position it well for future growth, despite the need for consistent performance.

To see Spark’s full report on TSE:MMY stock, click here.

More about Monument Mining

Monument Mining Limited is a company operating in the mining industry, primarily focused on gold mining. It is involved in the exploration and development of gold projects, with a significant presence in the Central Gold Belt of Western Malaysia, specifically the Selinsing and Buffalo Reef gold projects.

Average Trading Volume: 597,868

Technical Sentiment Signal: Buy

Current Market Cap: C$368.9M

For a thorough assessment of MMY stock, go to TipRanks’ Stock Analysis page.