logo-loader
viewMedusa Mining

Medusa Mining increases gold output in latest quarter

The Philippines mine produced 25,429 ounces in the three months to end June, compared to 21,980 ounces in the previous quarter.

gold-pour.jpg
Medusa produces gold in the Philippines form the Co-O mine

Medusa Mining  Ltd (ASX:MML) increased its gold output from the flagship Co-O mine in the latest quarter.

The Philippines mine produced 25,429 ounces in the three months to end June, compared to 21,980 ounces in the previous quarter (to March).

The headgrade was also better than in the previous quarter - at  6.32 g/t gold compared to 5.47 g/t.

That meant it has produced 108,578 ounces in the year to date - higher than its previously revised guidance of 108,000 ounces.

All in sustaining costs (ASIC) were US$1,088 per ounce, compared to US$1,033 per ounce in the March quarter.

For the 2016/17 year, the firm is guiding for between 105,000 and 115,000 ounces to be produced, and all-in-sustaining-costs to be between US$1000 and US$1,100 per ounce.

Quick facts: Medusa Mining

Price: 0.715 AUD

ASX:MML
Market: ASX
Market Cap: $148.57 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. 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...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

NQ Minerals' David Lenigas focused on restructuring debt and upping profits...

NQ Minerals PLC's (LON:NQMI) David Lenigas speaks to Proactive London's Andrew Scott soon after taking over as chairman at the Australia-focused mining group. Production and exploration plans aside, Lenigas also says they're in advanced talks to replace on more favourable terms all the debt...

1 hour, 15 minutes ago

2 min read