content_image/251459.jpg content_image/251460.jpg content_image/251461.jpg
## MONUMENT MINING LIMITED 

Notes to Consolidated Financial Statements For the years ended June 30, 2010 and 2009 

## 12. Share Capital (continued) 

 f. Contributed surplus 

<img src='content_image/251459.jpg'>

## 13. Loss Per Share 

<img src='content_image/251460.jpg'>

## 14. Related Party Transactions 

<img src='content_image/251461.jpg'>

a. During the year ended June 30, 2009, the Company purchased a ball mill from Avocet, a shareholder of the Company, for consideration of $3,250,001 by issuing the Company’s equity (note 12(b)(ii)). Due to a lack of third party evidence of market value, the transaction has been measured at the carrying amount. The Company recorded the cost of the ball mill at the book value of $712,672 provided by its previous owner and included the difference of $2,537,328 in deficit. 

b. Avocet also provided training assistance to the Company during the year for $134,048 which was included in mineral properties and accounts payable in 2009. The balance payable was subsequently settled through the issuance of shares (note 12(b)(iii)). 

c. George Brazier, a director of the Company, provides general consulting services to the Company. For the year ended June 30, 2010, he earned $60,000 (2009 - $30,000) for such services, of which $5,250 (2009 - $5,250) was outstanding and included in accounts payable as at June 30, 2010. 

d. Lorenzo Trentini was a director of the Company up to March 29, 2009 and provided consulting services to the Company. For the year ended June 30, 2009, he was paid $33,225 through Base Consultant, a company incorporated in Switzerland, for such services. The service contract was terminated concurrently with his directorship. 

All transactions, except for purchase of the ball mill and settlement of debt through the issuance of shares, are in the ordinary course of business and are measured at the exchange amount, which is the amount of consideration established and agreed between the related parties. 

