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

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

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

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.