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Medusa Mining

July 2011

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • MML
  • Price:
  • 428p
The shares are off quite sharply with the market reacting badly to news that gold output for the year, which started on 1 July, is now expected to be 100,000-110,000 ounces against previous expectations of 125,000 oz. Medusa said it continues to significantly increase the rate of underground development which will result in a higher percentage of lower grade development ore in the mill feed for the September quarter. It is also carrying out some maintenance to the shaft at the same time. The cash costs are slightly higher at US$200 per ounce but still a level most miners would die for. A disappointing update but some positive aspect as Medusa also noted that since  announcing the approval to construct a new mill with the capacity to ...

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Related Articles

Medusa Mining - On track to expand Co-O to 200,000 ounces p.a. (May 2011)
Medusa Mining - Moves to Full List (November 2010)
Medusa Mining - Philippine gold miner, a contender for FTSE-250 inclusion (October 2010)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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