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Medusa Mining Ltd increases gold output in June 2016 quarter

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Medusa Mining Ltd (ASX:MML) increased its gold output from the flagship Co-O mine in the June 2016 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.

 

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