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Medusa Mining's managing director buys 15,000 shares in firm

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Medusa Mining (LON:MML, ASX:MLL,TSE:MLL) announced that managing director Peter Hepburn-Brown bought 15,000 shares in the company on June 23 this year at A$6.85 per share.

The transaction cost A$102,750 and now means Hepburn-Brown holds 15,000 shares in the company.

Meanwhile, non-executive director Andrew Boon San Teo bought 5,000 shares in Medusa on the same day- at the same price for a total transaction cost of A$33,750.

Teo now holds 60,000 shares in the Company, which are registered in the name of his spouse -  Fiona Mary Teo, said the company.

Yesterday, the company said that it will produce between 100,000 and 110,000 ounces of gold at cash costs of around $200/oz in the forthcoming year - beginning 1 July.

As highlighted in the quarterly report - released on  27 April -  the firm is significantly increasing its rate of underground development to around 800 metres per month.

This increased development is to prepare the mine for the hike in production rates under the firm's expansion plans.

Quick facts: Medusa Mining

Price: 0.7 AUD

ASX:MML
Market: ASX
Market Cap: $145.46 m
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