Release #16 - 2013
Vancouver, B.C., Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) ("Monument") confirms that, as mentioned in Central Australian Phosphate Limited�s (�CEN�) Target�s Statement released today, it has made an indicative non-binding conditional proposal to acquire all the share capital of CEN at an indicative offer price of A$0.031 cash per CEN share. This would correspond to an estimated equity value for 100% of CEN of A$18.3 million (C$19.2 million
[1]) before transaction costs. Monument�s indicative proposal is subject to satisfactory completion of due diligence and agreement with CEN on a number of conditions, and may not lead to an offer.
The cash consideration would be funded from existing facilities and any acquisition would be subject to Monument�s strict due diligence criteria.
Based in Australia and listed on the Australian Securities Exchange, CEN is an exploration company whose largest asset is a phosphate project (the �Arganara Project�), which is located in the Northern Territory and comprises significant mid-grade phosphate deposits. See
www.nupowerresources.com.au for further information.
Commenting on the indicative proposal, Monument President and CEO, Robert F. Baldock, said: �As part of the planned operation of Monument�s Mengapur Polymetalic Project, one of the main by-products will be sulphuric acid. In combination with an adequate supply of phosphate rock, it is intended that Monument will manufacture a range of high-grade fertilizer products. Accordingly, sourcing a large and stable supply of phosphate rock is a core component of our longer-term strategic objectives for the Mengapur Polymetalic Project and Monument more broadly. The Arganara Project, with its highly promising phosphate deposits, and central geographic location, represents a highly attractive proposition for Monument.�
CEN announced on February 13, 2013 that it had received an unsolicited takeover offer from Rum Jungle Resources Limited (�RUM�) at a headline offer price of A$0.0215 in cash and RUM shares per CEN share.
Monument is being advised by ICS Advisory as financial adviser and Hardy Bowen and DuMoulin Black LLP as legal advisers.
Monument will update its shareholders on material developments, as appropriate.
About Monument 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 100% owned, development stage, Mengapur Polymetalic Project. The Company employs 320 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
[1] Based on an exchange rate of A$1.00 = C$1.05 as at 22 April 2013
FOR FURTHER INFORMATION visit the company web site at
www.monumentmining.com or contact:
Nick Kohlmann, MMY Toronto T: +1-647-478-3594 nkohlmann@monumentmining.com
Richard Cushing, MMY Vancouver T: +1-604-638-1661 x102 rcushing@monumentmining.com
Wolfgang Seybold, Axino AG-Europe T: +49 711-2535-92 40 wolfgang.seybold@axino.de
IN AUSTRALIA:
Anthony Tregoning, FCR T: +61 2 8264 1000 (Sydney)
Robert Williams, FCR T: +61 2 8264 1003 (Sydney)