Monument's 2012 Third Quarter Production (cnw) Gold Production of 10,676 ounces VANCOUVER, May 14, 2012 /CNW/ - Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) ("Monument" or the "Company") today reports its third quarter production results for the three months ended March 31, 2012. Full financial and operating results for the quarter will be released by the end of May 2012. All amounts are in United States dollars unless otherwise indicated. The third quarter gold production was 10,676 ounces compared to 11,904 ounces for the same quarter in the previous fiscal year. The average realized price per ounce of gold sold was $1,698 this quarter compared to $1,404 for the corresponding quarter in the previous fiscal year, an increase of 21%. The average processing recovery rate was 93.3% for the three month period. Robert Baldock, CEO and President of Monument Mining, said: "The total production has decreased approximately 9% when compared both to the 2011 third quarter and the 2012 second quarter. This was mainly due to the lower mill feed grade and consequently a lower processing recovery rate. The total production level is expected to be increased when the plant capacity is increased pursuant to the ongoing phase III construction, completion of which is expected to occur in June 2012." | Year ended, Jun. 30, 2010 | | Year ended, Jun. 30, 2011 | | Three months ended, Sep. 30, 2011 | | Three months ended, Dec. 31, 2011 | | Three months ended, Mar. 31, 2012 | Mining | | | | | | | | | | Ore mined (tonnes) | 662,330 | | 740,909 | | 124,736 | | 128,557 | | 140,168 | Waste moved (tonnes) | 2,326,502 | | 2,707,598 | | 719,080 | | 686,995 | | 744,914 | Ore stockpiled (tonnes) | 387,545 | | 773,432 | | 813,175 | | 859,011 | | 915,347 | Process | | | | | | | | | | Crushed ore (tonnes) | 274,786 | | 355,021 | | 84,993 | | 82,722 | | 83,833 | Ore processed (tonnes) | 272,120 | | 351,999 | | 86,343 | | 84,182 | | 83,447 | Average mill feed grade (g/t) | 3.08 | | 4.31 | | 4.53 | | 5.25 | | 3.37 | Processing recovery rate | 58.7% | | 92.9% | | 95.1% | | 95.3% | | 93.3% | Ball mill availability (%) | 89.2% | | 96.1% | | 97.4% | | 95.8% | | 94.8% | Sales | | | | | | | | | | Gold produced (oz) | 13,793 | | 44,438 | | 11,846 | | 11,736 | | 10,676 | Gold sold (oz) | 13,793 | | 40,438 | | 8,372 | | 12,765 | | 7,301 | Revenue (in 000's) (1) | $16,316 | | $56,627 | | $14,430 | | $21,084 | | $12,394 | Average realized gold price per ounce | $1,183 | | $1,400 | | $1,724 | | $1,652 | | $1,698 | (1) | Prior to achieving commercial production in September 2010, gold sales and related production costs were capitalized against the Selinsing Gold Property and construction of the gold treatment plant. | |