leadf
logo-loader
viewMedusa Mining

Medusa Mining's production rises as grades tick up

First half production totalled just under 50,000oz and for the full year, Medusa has forecast between 85,000-90,000oz

Gold pour
Medusa has increased its production forecast once already this year

Medusa Mining Limited’s (ASX:MML) production edged up in its second quarter after grades and throughput improved slightly.

The Philippines–based gold miner produced 25,056 oz (24,986oz) of gold in the three months to December, at an average head grade of 6.67 g/t gold, from 124,914 tonnes of ore processed.

READ: Medusa seizes Cambodian gold, copper and oil exploration opportunity

Tonnage mined was lower than the previous quarter, but the grade and amount processed ticked up slightly.  

Maintenance work at the Co-O mine pushed all-In-sustaining-costs up to US$1,025 per oz, but cash costs fell.

First half production totalled just under 50,000oz and for the full year, Medusa has forecast between 85,000-90,000oz.

During the quarter, the company also signed a MoU over an exploration licence in Cambodia.

Quick facts: Medusa Mining

Price: 0.835 AUD

ASX:MML
Market: ASX
Market Cap: $173.51 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

Oracle Power CEO explains delay of LOI for Thar Block VI project plan

Oracle Power's (LON:ORCP) CEO Naheed Memon gives her response to the level of activity amongst investors surrounding the status of the 'Letter of Intent' for the Thar Block VI Project. Memon explains the LOI was applied for in March – shortly before the pandemic – and whilst Oracle originally...

23 minutes ago

2 min read