viewMedusa Mining

Medusa Mining Ltd updates on gold production guidance


Medusa Mining Ltd (ASX:MML), which operates the Co-O mine in the Philippines, now expects production for the year of around 108,000 ounces of gold.

That's down from 120- 130,000 ounces after lower than expected output in the first quarter to end March and the results of a new operations review.

For the three months to end March, the miner produced 21,980 ounces at a head grade of 5.47 g/t gold compared to 29,674 ounces in the last quarter (to December 2015).

All in sustaining costs (ASIC) were US$1,033, up from US$950 in the preceding quarter.

Underground drilling to expand the resource kicked off last month from levels eight to 16, but there were initial delays due to rig availability and issues around the chambers.

The firm highlighted that elevated AISC guidance (between US$900 and US$1,000) will persist until all mine medium term waste infrastructure projects are completed.


Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

Quick facts: Medusa Mining

Price: 0.83 AUD

Market: ASX
Market Cap: $172.47 m

Add related topics to MyProactive

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


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...



Full interview: Immotion plans fundraising following deal with Las Vegas resort

Immotion Group (LON:IMMO) has raised gross proceeds of £2.85mln from an 'oversubscribed' fundraising to accelerate its growth plans, and revealed it has inked a revenue-sharing deal with the MGM Mandalay Bay resort and casino in Las Vegas. CEO Martin Higginson tells Proactive London what the...

23 hours, 23 minutes ago

2 min read