Report

Stock Up 67% YoY, Still Trading at a Steep Discount

Monument Mining Limited (TSXV: MMY / FSE: D7Q1) has gained 67% YoY but remains deeply undervalued, trading at just 0.9x forward EBITDA versus the sector average of 5.8x. In Q1-FY2025, the company produced 8 Koz from its Selinsing gold mine in Malaysia, up 11% YoY, but down 33% QoQ due to lower grades, missing estimates by 11%. Despite this, operational efficiencies lowered cash costs by 1% QoQ and YoY to $837/oz, beating estimates. Revenue surged 180% YoY, driven by higher gold prices, significantly boosting EBITDA and free cash flow. With $24M in working capital and no debt, MMY plans a resource upgrade drill program at Selinsing and intends to resume exploration at its Murchison project in Australia. As gold trades near record highs and M&A activity intensifies in the sector, MMY stands poised for growth, with expectations for record production and EPS in FY2025.
Underlying
Monument Mining

Monument Mining is a natural resource company engaged in the acquisition, exploration, development and operation of gold mineral property interests.

Provider
Fundamental Research
Fundamental Research

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Analysts
Sid Rajeev

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