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Monumental Gold ( (TSE:MNRG) ) has shared an update.
Monumental Energy Corp. has announced its participation in four production-focused workover projects in the Taranaki Basin, New Zealand, in collaboration with New Zealand Energy Corp. and L&M Energy. This strategic move allows Monumental to fund NZEC’s share of the workover phase, earning a 25% royalty on NZEC’s production share after capital recovery. The workovers aim to enhance oil and gas production from the Waihapa/Ngaere Field, a region known for its high discovery rates. Monumental’s involvement in these projects aligns with its strategy to generate cash-flow through partnerships in proven production assets, maintaining exposure to near-term upside in stable jurisdictions.
More about Monumental Gold
Monumental Energy Corp. is an exploration company focused on acquiring, exploring, and developing properties in the critical and clean energy sector, as well as investing in oil and gas projects. The company holds interests in various projects, including a call option and royalty agreement on the Copper Moki wells in New Zealand and a potential 75% interest in the Laguna cesium-lithium brine project in Chile.
Average Trading Volume: 86,895
Technical Sentiment Signal: Sell
Current Market Cap: C$3.07M
For a thorough assessment of MNRG stock, go to TipRanks’ Stock Analysis page.