Monument Mining hopes to advance the phased development of its Mengapur polymetallic project after securing the support of its major shareholder GoldMet.

Monument Mining has recorded its highest quarterly gold production at the Selinsing project with 15,092 ounces produced in the three months to December 31, 2012. The company sold 11,353 ounces, netting gross revenue of US$19.6 million.

Monument Mining will sell up to 160 million shares in a bid to raise $80 million to funnel into its polymetallic project in central Malaysia.