Canada's Monument Mining Q1 revenue rises 67% to $32.4 mln

Monument Mining

02/12/2025 08:26

Overview

Monument Mining Q1 FY 2026 revenue rose 67% to $32.4 mln, driven by higher gold sales

Net income increased to $10.5 mln from $3 mln, reflecting improved operational efficiency

Company's cash reserves rose by $16.9 mln to $62.84 mln, supporting growth

Outlook

Company is conducting exploration drilling at Selinsing to potentially increase Mineral Resources

Company completed an internal economic assessment for Murchison Gold Project

Company plans to expand Selinsing concentrate shed by 50% during FY 2026

Result Drivers

GOLD PRODUCTION - Increased gold production at Selinsing Gold Mine contributed to higher revenue

RECORD GOLD PRICE - Achieved record average realized gold price of $3,498/oz, boosting revenue

CASH RESERVES - Cash reserves increased by $16.9 mln to $62.84 mln, enhancing liquidity

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Gross Revenue
$32.40 mln
Q1 Net Income
$10.50 mln
Q1 Basic EPS
$0.03


Analyst Coverage

The one available analyst rating on the shares is "buy"

The average consensus recommendation for the gold peer group is "buy"

Wall Street's median 12-month price target for Monument Mining Ltd is C$1.50, about 26% above its December 1 closing price of C$1.11

Press Release: ID:nGNEb7V8vd

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)