Oct 28, 2013
Monument Appoints Executive General Manager, Monument Malaysia Group
Vancouver, B.C. Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) "Monument" or the "Company" today is pleased to announce that Mr. Les Kwasik has been appointed as Executive General Manager, Monument Malaysia Group effective October 25, 2013, resident in Malaysia. He directly reports to Robert Baldock, President and CEO of Monument Mining Limited.
Mr. Kwasik is known as a reputable successful general manager in the mining industry and has over 40 years' hands-on experience in delivery of operations success with discipline. He has a very impressive track record in his previous assignments for developing and building successful precious metal and base metal operating mines (copper, nickel, gold and silver), achieving significant improvements in production and making operations highly profitable including turning a $380 million mine project into a $3.7 billion operation.
Mr. Kwasik has previously worked with INCO Limited Canada (VALE Canada Limited), Xstrata Columbia, BE&K Group, Inter Invest Sp Company, NESMA Company Saudi Arabia, Maple Minerals Corporation Canada and Archipelago Resources Singapore and has included international postings in Indonesia, Columbia, Russia, Poland, Eritrea and Australia in leadership roles such as general manager and COO. Mr. Kwasik is an industrial engineer and a graduate of the Opole University of Technology in Poland. He holds B. Sc. in Industrial Electrotechnology Engineering.
Mr. Kwasik's main responsibilities as Executive General Manager include overall control and management of Malaysian operations (or other regions such as Australia, or Canada should it be required in due course). He will be responsible for a sustainable gold production at the Selinsing Gold Mine and continuously increasing the gold inventory through implementing successful exploration programs. The Company has a large land bank of exploration property in the vicinity of Selinsing that will provide potential growth prospective.
Additionally Mr. Kwasik will be responsible for developing the Mengapur Polymetalic Project into a significant producing base metals mine, including completion of the present R&D and flow sheet development programs, preliminary mine development planning, construction, commissioning and production of the process plant facilities, mine infrastructure and mining operations, and associated exploration programs.
Under direction of Mr. Baldock,, Monument is aiming to expand its current project pipeline from the Malaysia region into other regions including Australia and Canada, when and if they are available, with a further diversified other metals and mineral assets. Mr. Kwasik will play an important role in this move to ensure project development and operational excellence is implemented consistently through its pipeline.
Robert Baldock stated "Les will make a significant difference to our operations in Malaysia bringing a very impressive background in the industry. His experience in increasing efficiency, expansion of operations and supporting sustainable production while driving down costs will be a great asset to the Monument Malaysia Group".
Monument Mining Limited (TSX-V:MMY, FSE:D7Q1) is an established Canadian gold producer that owns and operates the Selinsing Gold Mine in Malaysia, with production cash costs among the lowest in the world. Its experienced management team is committed to growth and is advancing several exploration and development projects in Malaysia, including the development stage, Mengapur Polymetallic Project. The Company employs 330 people in Malaysia and is committed to the highest standards of environmental management, social responsibility, and health and safety for its employees and neighboring communities.
Robert F. Baldock, President and CEO
Monument Mining Limited
Suite 910- 688 West Hastings Street
Vancouver B.C. Canada V6B 1P1
FOR FURTHER INFORMATION visit the company web site at www.monumentmining.com or contact:
Nick Kohlmann, MMY Toronto T: +1-647-478-3594 [email protected]
Richard Cushing, MMY Vancouver T: +1-604-638-1661 x102 [email protected]
Wolfgang Seybold, Axino AG-Europe T: +49 711-2535-92 40 [email protected]
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
This news release contains forward-looking statements about Monument Mining Limited ("Monument"), its business and future plans. Forward-looking statements are statements that are not historical facts and include the timing of the proposed programs and events. The forward-looking statements in this news release are subject to various risks, uncertainties and other factors that could cause actual results or achievements to differ materially from those expressed or implied by the forward-looking statements. These risks and certain other factors include, without limitation, the estimated cash cost per ounce of gold production and the estimated cash flows which may be generated from the operations, general economic factors and other factors that may be beyond the control of Monument; statements regarding the future price of gold; the estimation of mineral resources; conclusions of economic evaluation (including scoping studies); the realization of mineral resource estimates; the timing and amount of estimated future production, development and exploration; costs of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; currency exchange rates; government regulation of mining operations; and environmental risks. Generally, forward-looking information can be identified by the use of forward- looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; foreign operations risks; other risks inherent in the mining industry and other risks described in the annual information form of the Company, which is available under the profile of the Company on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward- looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.