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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: 0.89 AUD

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