Monument secures Intec licence to exploit recovery technology
JOHANNESBURG (miningweekly.com) – TSX-V-listed Monument Mining has been granted an interim license to exploit and test Intec International Project’s sulphide, gold and copper recovery technology.
As part of a heads of agreement with Intec, Monument would also obtain the licence rights, known as the Intec licence, should the trial commercialisation testwork be a success, to exploit the Intec technology in agreed territories across South East Asia, including Malaysia, Australia and China.
Monument would pay $3.5-million through the issue, subject to regulatory approval, of 14-million fully paid common shares at a deemed price of $0.25c apiece, to be held in escrow until the successful commercialisation of the technology.
Monument would inject, as part of the agreement, $13-million to $15-million into the commercialisation of the trial testing work, which was expected to be completed by the third quarter of the 2016 financial year.
The technology would be developed and used through several carefully monitored stages treating the deeper sulphide ore at Monument’s 100%-owned Selinsing and Buffalo Reef gold projects in Pahang state, in Malaysia.
The Selinsing plant was dubbed the “alpha site” as it would be used to develop a methodology in treating sulphide refractory ore through the existing Selinsing processing circuit.
“The investment risk is limited to the expenditures incurred [at] each stage undertaken and, if the results are not to Monument's satisfaction, [the company] will have [the] right to withdraw from further commitment,” Monument promised.
Intec was required to supply all the relevant information relating to its technology and provide Monument with access to key personnel during the trial period to assist Monument in effectively assessing the Intec technology in relation to the company’s mineral properties.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation















