Monument Closes Murchison Gold Project Acquisition

Monument Mining Ltd. (TSXV:MMY) announced that it has closed its acquisition of the Western Australia-based Murchison gold project. The acquisition was made via Monument Murchison Pty Ltd., Monument’s subsidiary.

As quoted in the press release:

On February 21, 2014, Monument closed the Murchison Gold Project acquisition subsequent to receipt of the approval of the Australian Foreign Investment Review Board (‘FIRB’) and fulfillment of all closing conditions for the transaction. The consideration of AUD$15 million cash was paid to Jinka Minerals Limited, Kentor Minerals (WA) and KGL Resources Limited (the ‘Vendors’) under a ‘Mining Property Sale Deed’ in exchange for the Murchison Gold Project, including a number of mining and exploration tenements and lease applications covering approximately 98 square kilometers of mining land prospective for resource extension. The tenement package holds a historical resource estimate of 546,000 ounces of gold, a fully operational gold processing plant, a newly developed camp site and all necessary infrastructure.

Click here to read the full Monument Mining Ltd. (TSXV:MMY) press release.