# Monument Reports First Quarter Fiscal 2016 Results Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/monument-reports-first-quarter-fiscal-2016-results--18e23787-fb98-4164-bb14-4b776d3dfda4 Original source: https://money.tmx.com/en/quote/MMY/news/70112005/monument-reports-first-quarter-fiscal-2016-results Publisher: tmx Original announcement: 2015-11-30T16:45:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Monument Mining Limited - Ticker: MMY - Exchange: TSX - Region: Unavailable - Primary commodity: Gold - Secondary commodities: None reported - Document categories: Production, Metallurgy - Extracted: 2026-09-16 11:16:42 UTC Narrative sentiment: -0.10 · Bearish ## Minestarters Atlas summary Monument Mining Limited reported its first-quarter fiscal 2016 results, with gold production decreasing by 48% to 5,063 ounces due to lower head grades and recovery rates at the Selinsing mine. Despite this, the company achieved a 33% reduction in cash cost per ounce to US$468/oz and an increased profit margin from gold production. Development work continued on the Intec Pilot Plant at Selinsing and the Burnakura Gold Project in Western Australia. Reasoning: The company reported a substantial decrease in gold production, head grade, and recovery rates, leading to negative cash flow and lower net income. However, these negative operational aspects were partially offset by a significant reduction in cash costs per ounce and an increase in profit margin from gold sales. Development projects are progressing. - Positive factor: Significant reduction in cash cost per ounce by 33% to US$468/oz. - Positive factor: Increased profit margin from gold production to $2.33 million. - Positive factor: Ore mined increased by 42% to 0.11 million tonnes. - Positive factor: Progress on development projects including commissioning of Intec Pilot Plant and engineering for Burnakura heap leach. - Negative factor: Significant decrease in gold production by 48% to 5,063 ounces. - Negative factor: Average ore head grade decreased by 42% to 0.96 g/t. - Negative factor: Process recovery rate decreased by 9% to 77.0%. - Negative factor: Cash flow from operations turned negative \($0.73 million used\). - Negative factor: Net income decreased significantly to $0.12 million. Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 8 ## Classification and evidence **Low Recovery** Polarity: negative Definition: Recovery below the weak band for the commodity and processing route. Why it applies: The process recovery rate decreased to 77.0%, which is below the weak band \(80%\) for gold mill/CIL processing. Evidence · text > process recovery rate decreased 9% to 77.0% **Tonnage Growth** Polarity: positive Story-specific tag Definition: Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved. Why it applies: Ore mined increased by 42% to 0.11 million tonnes compared to the prior period. Evidence · text > Ore mined increased by 42% to 0.11 million tonnes **Grade Decline** Polarity: negative Story-specific tag Definition: Average grade fell below the red-flag bound vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling. Why it applies: Average ore head grade decreased by 42% to 0.96 g/t compared to the corresponding quarter last year. Evidence · text > Average ore head grade decreased by 42% to 0.96g/t **Heap Leach Route** Polarity: neutral Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected. Why it applies: the document describes a heap\_leach route \("heap leach"\) ## Extracted facts Stored fact records: 0. Some facts used in scoring do not have a stored record. No stored fact records are available for this extraction. ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.