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Additional Information
Market: AIM / ASX / TSX
Sector: General Mining - Gold
EPIC: MML
Latest Price: 401.50p  (3.68% Ascending)
52-week High: 568.00p
52-week Low: 280.00p
Market Cap: 758.45M
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Medusa Mining
www.medusamining.com.au

 

Medusa Mining Limited ("Medusa" or the "Company"), a public company listed on the ASX, AIM and the TSX, is an Australian based gold producer, focused solely on the Philippines

Medusa's corporate strategy is to become a mid-tier, 300,000 to 400,000 ounce per year, low-cost gold producer.

 

 

Full Medusa Mining profile here
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Medusa Mining on track to meet gold production target this quarter

16th Mar 2010, 7:25 am Medusa Mining on track to meet gold production target this quarter

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.

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.