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Market: TSX / AIM / ASX
Sector: Gold Mining
Epic: MLL
News: Latest news
Web Site: Medusa Mining
Other Articles: 08-09-201001-09-201001-09-2010

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Thursday September 09, 12:27ZOO Digital’s new iTunes toolset adopted by major Hollywood studio

The new iTunes toolkit automates the production of menus and bonus features, allowing studios to produce enhanced download content at significantly lower costs. The toolkit is expected to open-up 'a large potential market' and add new revenue streams.

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Wednesday September 08, 10:42African Energy Resources encouraged by coal results at Sese, seeks cornerstone partner

With the coal quality, thickness and shallow depth, it augurs well for potential commercial coal production for African Energy at Sese in Botswana.

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Tuesday September 07, 08:12MetroCoal re-affirms Columboola coal Resource yet to be completed

Emerging coal-focused energy company MetroCoal (ASX: MTE) has clarified that it has not completed any resource estimate or report on its Columboola Project area in Queensland's Surat Basin.

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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's expansion of gold production on track at Co-O mill in Philippines

Medusa Mining (ASX & AIM: MML: TSX: MLL) has advised that the commissioning of the Co-O mill expansion is progressing well and the Company is set to meet its targeted production of 25,000 ounces of gold this quarter.

The company is currently expanding its high grade Co-O Mine operations in the Philippines (Indicated Resources 580,000 ounces of gold inclusive of a Probable Reserve of 500,000 ounces of gold, and Inferred Resources 660,000 ounces of gold) to increase its forecast production to 100,000 ounces per year in 2010.

Medusa is conducting near mine exploration to assess the possibilities of further expansion to 200,000 ounces per year.

Geoff Davis, Managing Director, commented, “the company is set to achieve another production milestone on schedule. We commend the efforts of those concerned at the Co-O Mine and Mill for meeting operational deadlines whilst continuing to produce gold at or above forecasted levels."

"This expansion increases the company’s ability to optimise future gold production,” he added.
 
Current cash costs at the Co-O Mine are approximately US$190 per ounce. A pipe-line of deposits is now being established with the Bananghilig Deposit (Inferred Resource of 650,000 ounces of gold) recently added and which is expected to expand, potentially in conjunction with nearby discoveries.

The company says further potential upside exists in the discovery of substantial copper deposits within the tenement holding of > 800km2.

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