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In June
2007 Avocet agreed to sell its entire interest
in its Malaysian subsidiary, Damar Consolidated
Exploration Sdn Bhd ("Damar"), holder
of the tenements containing the Buffalo Reef prospect
located approximately 40 kilometres to the north
west of Penjom, to Monument Mining Limited ("Monument").
Monument is listed on the TSX Venture Exchange
in Canada (ticker: MMY). Avocet
currently owns an undiluted interest in Monument Mining
of approximately 16%. Avocet has agreed to maintain
its Monument shares until June 2009.
Monument, through its Malaysian
subsidiary, now controls the adjacent Selinsing
Gold mine and Buffalo Reef prospects. The combined
JORC-compliant Indicated Resource of these two
projects is 485,800 oz of gold, 330,000 oz of
which is NI 43-101 compliant. Monument is planning to bring
the Selinsing project into production in 2009 at a rate of 400,000 tonnes per annum
using a carbon-in-leach circuit.
For more information about
Monument please visit their website at www.monumentmining.com
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