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Epic & Msn data
Epic MML
Time: 08:10:03
Mid Price: 226.50
Change Today: 7.00 Ascending
Change % Today: 3.19 Ascending
Fifty Two Week High: 234.16
Fifty Two Week Low: 62.73
Market Capital: 385.92
Period & price data
Period Price
Now: 226.50
3 Months ago:
6 Months ago:
1 Year ago:
Additional information
Additional Information
Market: AIM / ASX / TSX
Sector: General Mining - Gold
Epic: MML
News: Latest news
Web Site: Medusa Mining
Other Articles: 16-03-201016-03-201016-03-2010

Medusa Mining

Medusa is an expanding gold producer in the Philippines, listed on the Australian Stock Exchange (ASX;MML), London AIM (AIM: MML) and Toronto Stock Exchange (TSX: MLL) markets. With an expanding resource base now at 1.2million ounces at 13.3g/t gold and production on track to achieve 60,000 ounces annualised in Q3 09 and 100,000 ounces annualised early 2010, it is anticipated that long term cash costs will be approximately US$200/ounce. Numerous new discoveries of gold and copper-gold are anticipated in the future within the large regional tenement package totalling 820km². The operations are an integral part of the local communities.

CLICK HERE FOR FULL ANLAYSIS OF MEDUSA MINING
Friday, July 03, 2009

Medusa Mining joins ASX 200

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Standard & Poor’s has added Medusa Mining (ASX: MML) to both the S&P/ASX 200 and S&P/ASX All Australian 200, effective after the close of business on 7 July 2009.

Companies that are added to the index may encounter increased demand for the company's shares, as some institutional investors may re-weight their portfolio to align with the index constituent companies.

Managing Director Geoff Davis, said the  Company’s inclusion in the S&P/ASX 200 index was a major achievement.  "We believe the Company, with its world class asset in the Philippines, will continue to deliver positive results for many years to benefit not only shareholders but also for the many communities in which it operates.”

Earlier this week, the junior gold producer announced a revised JORC compliant resource statement for the mine, based on ongoing infill and exploration drilling of the vein system to both boost the confidence of the resource and extend the system along strike and at depth, ahead of the completion of a Phase I expansion to increase production to 60,000 ounces of gold per annum, and a further ramp up to 100,000 ounces of gold per annum from a Phase II development. 

The resource increased by 15% to 1.38 million ounces of gold at 10.8 grams per tonne gold, an increase of 60% in 12 months.  The indicated gold resource increased by 25.6% to 1.25 million tonnes at 15 grams per tonne (603,000 ounces) while the inferred category climbed to 2.73 million tonnes at 8.9 grams per tonne gold (777,000 ounces).


 

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