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Additional information
Additional Information
Market: TSX / AIM / ASX
Sector: Gold Mining
Epic: MLL
News: Latest news
Web Site: Medusa Mining
Other Articles: 27-07-201022-07-201022-07-2010 
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Thursday July 29, 09:30Specialist Energy Group Lays Out a Compelling Blueprint for Growth

After a difficult start to life as a stock market listed company, the company now stands at the threshold of a much brighter future. Legacy issues have been dealt with and the turnaround programme initiated by CEO Ewan Lloyd-Baker is gaining traction.

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Wednesday July 28, 11:30Silver Lake Resources boosts high grade gold resource by 70% to 2.5m ounces

Silver Lake Resources has added over 1 million ounces of gold to its resource inventory during the year after mining 66,700 ounces and expects further encouraging results at its  Mount Monger and Murchison projects.

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Thursday July 15, 02:10Henan Yuguang Lead & Gold investment in Kimberley Metals receives all clear from FIRB

Kimberley Metals (ASX: KBL) has reported that on 12 July the Australian Government Foreign Investment Review Board (FIRB) had no objections to Henan Yuguang Lead & Gold Co. Ltd's [...]

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Medusa Mining

Medusa Mining

Medusa is an expanding gold producer in the Philippines, listed on the Australian Stock Exchange (ASX;MML), London AIM (AIM: MML) and Toronto Stock Exchange (TSX: MLL) markets. With an expanding resource base now at 1.2million ounces at 13.3g/t gold and production on track to achieve 60,000 ounces annualised in Q3 09 and 100,000 ounces annualised early 2010, it is anticipated that long term cash costs will be approximately US$200/ounce. Numerous new discoveries of gold and copper-gold are anticipated in the future within the large regional tenement package totalling 820km². The operations are an integral part of the local communities.

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Tuesday, March 16, 2010

Medusa Mining says on track to meet Co-O gold mine target production this quarter

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Medusa Mining (ASX, AIM: MML, TSX: MLL) said the commissioning of the mill expansion is at the Co-O mine in the Philippines is progressing well and the company is set to meet its targeted  production of 25,000 ounces of gold this quarter.

Managing director Geoff Davis commented: "The company is set to achieve another production milestone on schedule.  This expansion increases the company's ability to optimise future gold production.”

Earlier this month, the company announced a one for ten bonus issue of shares to all shareholders of the company. It said it had achieved several significant milestones in the last calendar year and the bonus issue is in recognition of the invaluable support the company has received from its shareholders. The bonus issue was also designed to encourage greater liquidity in Medusa shares.

When it reported interims in February for the six months ended 31 December 2009, Medusa flagged a net profit of US$28.3m, representing a 201% increase from US$9.4m in the corresponding period a year earlier. Revenues grew by 161% to US$41.3m. The emerging gold miner’s record-breaking performance was driven by both increased gold production, lower costs and higher received gold prices, it said.

Co-O’s annualised production is planned to be ramped up to 100,000 ounces.

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