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Medusa boosts gold production at Co-O, cuts all-in costs

Gold production at the Co-O rose, while costs fell

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Gold production at Co-O rose

Medusa Mining Limited (LON:MML)(ASX:MML) produced 24,896 ounces of gold from its Co-O mine in the Philippines in the three months to end September 2017.

The production came at an average head grade of 6.59 grams per tonne. That was a marked improvement on the 23,846 ounces at average grade of 6.38 grams.

Cash costs came in at US$565 per ounce, moderately up on the US$539 per ounce delivered in the June quarter.

However, all-in-sustaining-costs rang in at US$973 per ounce for the September quarter, a significant improvement on the US$1,180 per ounce figure reported in June.

Recoveries were marginally improved at 94.6%.

Overall, Medusa still expects to produce between 80,000 and 90,000 ounces at all-in-sustaining costs of between US$1,050 and US$1,200 per ounce during the financial year 2017-2018.   

Quick facts: Medusa Mining

Price: 0.89 AUD

ASX:MML
Market: ASX
Market Cap: $184.94 m
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