Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
AMSTERDAM, NETHERLANDS–(Marketwire – July 20, 2012) – GoldMet B.V. (“GoldMet“), announces that further to its news release of July 16, 2012, it has exercised common share purchase warrants (“Warrants“) to acquire 24,112,500 common shares of Monument Mining Limited (“Monument“) at a price of CAD$0.50 per common share (the “Exercised Monument Shares“) for gross proceeds to Monument of CAD$12,056,250. The Exercised Monument Shares represent approximately 11.6% of the issued and outstanding common shares of Monument.
As a result of the exercise of such Warrants, GoldMet now owns 54,112,500 common shares of Monument, representing approximately 26.0% of the issued and outstanding common shares of Monument.
The common shares of Monument are listed on the TSX Venture Exchange under the symbol “MMY”. The Exercised Monument Shares were issued from treasury upon the exercise of the Warrants. The Warrants acquired as described above were acquired pursuant to private transactions.
The Warrants noted above were exercised by GoldMet for investment purposes. From time to time, GoldMet may: (i) acquire additional securities of Monument; (ii) dispose of some or all of the securities it holds; or (iii) continue to hold its current position, in each case depending on the business and prospects of Monument, GoldMet itself, as well as future market conditions.
About GoldMet B.V.
GoldMet B.V. is a private company with limited liability incorporated under the laws of the Netherlands. GoldMet’s address is: Lairessestraat 154, 1075 HL Amsterdam, The Netherlands, Attention: George Molyviatis, E-mail: [email protected].
