Monument Reports First Quarter Fiscal 2026 Results

Executive Summary

• Monument Mining reported a material increase in net income to $10.5 M ($0.03/share) versus $3.0 M a year earlier, driven by higher gold production and record realized prices.
• Cash on hand rose 37% to $62.84 M, providing strong liquidity for continued mine expansion and development activities at Selinsing and Murchison.
• Gold output surged 62% to 13,092 oz (up from 8,059 oz) with sales of 11,227 oz at a record average price of $3,498/oz, generating $32.4 M in revenue.

Key Details

• Financial Highlights
• Net income: $10.5 M (FY 2025 Q1: $3.0 M)
• Gross margin: $22.43 M, a 93% increase YoY
• Cash cost per ounce sold: $888/oz (up from $837/oz)
• All‑in sustaining cost: $1,037/oz, down 7% YoY
• Operating cash flow: $19.19 M (vs. $9.68 M FY 2025 Q1)

• Working capital: $69.55 M (up $11.01 M YoY)

• Production & Operations

• Gold produced: 13,092 oz (FY 2025 Q1: 8,059 oz)
• Gold sold: 11,227 oz at $3,498/oz (record price)
• Ore mined: 169,780 t (up 23% YoY)
• Ore processed: 239,447 t, recovery rate 87.57% (vs. 76.22% FY 2025 Q1)

• Average mill feed grade: 1.94 g/t (up from 1.74 g/t)

• Mine Development – Selinsing

• Completed geotechnical testwork and drone/bathymetric surveys for tailings storage facility upgrades (stage 6 & stage 7 embankment raises).
• Replaced primary ball‑mill feed conveyor, gearbox, discharge hopper; upgraded pumps and filter press.
• Initiated R&D on leachable gold in tailings; plant‑scale trial planned.

• Contract awarded to expand concentrate shed by ~50% (construction to start Q2 FY 2026).

• Exploration – Selinsing

• Buffalo Reef program: 14 holes, 1,444.7 m drilled in quarter; total 2,236.7 m for resource expansion.

• 2,062 samples sent to assay lab.

• Murchison Gold Project (WA)

• Completed heritage survey and conceptual economic assessment (under management review).
• Planning drilling program to update historical resources at Gabanintha; pending regulatory approvals.
• Engineering reviews for capital & operating cost estimates to restart Burnakura processing plant.

• Ongoing care‑and‑maintenance activities keep plant and infrastructure ready for production restart.

• Liquidity & Capital Structure

• Cash & cash equivalents: $62.84 M (up $16.90 M from June 30 2025).
• No new financing disclosed in this release; existing liquidity deemed sufficient to fund FY 2026 development plans.

Notable Quotes

• “In Q1 FY2026, gold production continued its steady upward trend… supporting healthy cash flow and a solid financial position.” – Cathy Zhai, President & CEO

All figures are presented in U.S. dollars unless otherwise noted.