Gold mining outfit Medusa Mining (ASX, AIM:MML) said it had received confirmation of a decision by the Supreme Court of the Republic of the Philippines which dismissed a Motion for Reconsideration filed by Picop Resources Inc.
"The dismissal of the Motion for Reconsideration filed by Picop as a result of the Supreme Court decision issued on 6 December 2006 is the end of the Picop case. Philsaga, Medusa's Filipino operating corporation will now finalise the MPSA over the Co-O Mine." said Geoff Davis, Managing Director, "The Group can now focus all its energies on steadily increasing its total production to the targeted level of 100,000oz/year in early 2008"