Medusa Mining (MML)

Shares / Stock Code

MML

Stock Exchange / Sharemarket

Australian Securities Exchange

Medusa Mining (MML) produces Gold (Au) from the Co-O mine in the Philippines, where it is also actively exploring for new Gold-Copper (Au-Cu) deposits. MML is debt-free. Total resources are 2.03Moz, with 1.0Moz @ 14.9g/t of Probable Reserves at the Co-O mine. The treatment plant is being expanded to 1,000t per day. Phase 2 expansion is designed to increase production from 60,000 to 100,000ozpa by 1QCY10. Ore will come from the Co-O mine. Exploration is increasing the resource base and defining new projects.

The Company’s principal activities include mineral exploration, evaluation, development and mining. Medusa’s projects include Co-O Mine, Kamarangan Porphyry Copper Target, Bananghilig gold deposit, Lingig (Das-Agan) project, Anoling project, Apical Gold project, Saugon Gold-Silver project, Corplex Gold project, Bunawan Joint Venture, Barobo Gold Corridor. As of June 30, 2009, the Company’s resources totaled over 2,000,000 ounces of gold.

Medusa achieved its IPO objectives by achieving cashflow within 21 months of listing—ahead of the targeted two years—and is now expanding production with low additional capital costs. Differentiating factors are (a) robust resources and high grades, low costs and a strong anticipated cashflow and (b) potential for world-class gold and gold-copper discoveries within the richly endowed East Mindanao Ridge. In addition, MML's major customers would include the retail, wholesale and international markets. Its competitors consist of other gold mining companies such as Metex Resources (MEE). The mining industry is a global industry, which is highly competitive.

Medusa Mining History

Medusa Mining (MML) has a strategy to emerge as a low-cost 100,000oz per annum Au producer. A dominant land position of more than 820sqkm over one of the more mineralised geological provinces in the world is a potential pathway to success. MML is well placed to use cashflow from the Co-O mine to fund exploration programs with the goal of adding value to shareholders through a major discovery. MML was admitted into the S&P 200 index on 8 July 2009.

Medusa Mining (MML) Products and Services

  • Mining Production and Exploration

Medusa Mining (MML) Locations and Subsidiaries

Medusa Mining Head Office
11 Preston Street, Unit 7,
COMO, WA 6152

Phone: 08 9367 0601
Fax: 08 9367 0602

Medusa Mining (MML) Share Price

Submitted by ASX Listed Company on 9 March, 2010 - 21:20

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