VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 14, 2017) - Monument Mining Limited (TSX VENTURE:MMY) (FRANKFURT:D7Q1) ("Monument" or the "Company") reports that the Company filed a claim in the Kuantan High Court, Pahang Malaysia, seeking among others for the return of all issued shares of Selinsing Mining Sdn Bhd ("Selinsing", or "SMSB") to Monument's wholly owned subsidiary Able Return Sdn Bhd ("Able"), by virtue of Clause 2.2 of the "Able/Selinsing Purchase and Sale Agreement" dated May 31, 2007 for the acquisition of the Selinsing Gold Project that was closed in June, 2007.
After removing the assets from SMSB and leaving SMSB as a wholly owned "shell company" held in Trust for Monument and/or its wholly owned subsidiary Able, the ownership of SMSB has since been transferred to Kesit Pty. Ltd. without Monument's knowledge, agreement and/or approval. SMSB is the Plaintiff in the ongoing suit filed against Monument claiming for the 5% interest in the Selinsing Gold Project.
Pursuant to the interlocutory applications filed by the Defendants, namely Kesit Pty. Ltd. and Peter Steven Kestel, the Kuantan High Court had on Thursday June 8th, 2017 struck out the Company's claim. The Company will appeal against the said decision.
About Monument
Monument Mining Limited (TSX VENTURE:MMY)(FRANKFURT:D7Q1) is an established Canadian gold producer that owns and operates the Selinsing Gold Mine in Malaysia. Its experienced management team is committed to growth and is advancing several exploration and development projects including the Mengapur Polymetallic Project, in Pahang State of Malaysia, and the Murchison Gold Projects comprising Burnakura, Gabanintha and Tuckanarra in the Murchison area of Western Australia. The Company employs approximately 190 people in both regions and is committed to the highest standards of environmental management, social responsibility, and health and safety for its employees and neighboring communities. The Company has also been looking in other countries seeking potential opportunities for larger resources, including the Democratic Republic of the Congo ("DRC").
