todays newspaper article about monarch, page-27

operate at 125,000 oz pa instead of Harmony's recent target of 200,000 oz pa, and this
should provide better economics as well as a focus on better grades.
A search spend is also taking place in the eastern goldfields on the line of mining leases
from Davyhurst - where there is a mill - through Riverina, north to Mt Ida. That figure
could be more than $A6 M ($US5.4 M) pa.
As Monarch brings mines at Riverina and Mt Ida into production the potential may be
there to open up new areas on which Monarch was currently targeting potential new
resources. Mt Ida's established shaft and workings would provide a high grade (24 g/t)
underground ore feed.
Kiernan indicated that the Minjar project in the Yalgoo goldfield with a resource of
400,000 oz at a grade of 2.4 g/t and a gold plant was now outside of the regional search
focus and may be sold.
The company will now raise a further $10 M ($US9 M) as capital development money
for Riverina and the Missouri open cut in Davyhurst's Siberia group of claims.
Monarch is the first Australian mining stock to list on the new Dubai Stock Exchange.
Kiernan told Mineweb that this foundling exchange should have a strong market impact
within three years.



"The company will now raise a further $10 M ($US9 M) as capital development money
for Riverina and the Missouri open cut in Davyhurst's Siberia group of claims."


this $10M got it nevertheless, thus which is the excitement??