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An update from Monument Mining ( (TSE:MMY) ) is now available.
Monument Mining has reported additional high-grade assay results from 15 drill holes at the Buffalo Reef and Felda areas of its Selinsing Gold Mine in Malaysia, including significant mineralized intercepts in the BRC2/BRC3 and BRC3/BRC4 gaps. The company says the latest data confirm continuity between gold-bearing zones, support its expansion drilling strategy, and are expected to underpin an increase in inferred resources that could enable larger, combined pits and inform future life-of-mine planning.
The expansion program, which covers about 115 acres and is being advanced with four drill rigs and plans to ramp up to nine, aims to extend mineral resources and potentially convert them to reserves previously constrained by tenement boundaries. Successful exploration in the Stage 1 and Stage 2 target areas may support pit expansion at Buffalo Reef/Felda and provide a foundation for longer-term operational planning at Selinsing, subject to further geological modeling and tenement extensions.
The most recent analyst rating on (TSE:MMY) stock is a Buy with a C$1.92 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 Canada-based gold producer focused on the Selinsing Gold Mine and associated Buffalo Reef and Felda gold projects in Pahang State, on Malaysia’s Central Gold Belt. The company is pursuing mine expansion and resource growth to extend the life of its Selinsing operations and strengthen its position in the regional gold sector.
Average Trading Volume: 678,161
Technical Sentiment Signal: Buy
Current Market Cap: C$400.6M
For detailed information about MMY stock, go to TipRanks’ Stock Analysis page.