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Medusa Mining applies to cease trading in London

Published: 08:57 04 Apr 2014 BST

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Philippines-focused gold miner Medusa Mining (LON:MML, ASX:MML) has applied to stop trading on the London Stock Exchange.

The last day of dealings is expected to be May 22 this year, the company said in a brief statement.

Medusa said it had decided to streamline administration and to reduce management costs from listing on multiple stock exchanges.

"As the volume of trading in the securities on the LSE is low and the securities will continue to be traded on the Australian Securities Exchange, Medusa Mining believes the impact on its shareholders from delisting from the LSE will be minimal," it added.

Medusa shares eased 4.82% to 103.75p.

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