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Monument Mining Acquires 49% Stake in Mersing Gold Project in Malaysia

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Monument Mining Ltd (MMY.V) is down 1 cent at 57 cents a share with the junior miner closing on its acquisition of a 49% stake in the Mersing gold project in Malaysia, about 300 kilometers from Monument's Selinsing gold mine.

The company initiated a 2-year earn-in period with a $500,000 cash payment and issuing 1.5 million of its shares for a 70% stake in a Malaysian firm, Emas Kehidupan Sdn. Bhd. ( EK ), the current owner of a 70% stake at Mersing. Monument also committed to spend $2 million at the project during the next two years.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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