PERTH (miningweekly.com) – Junior gold miner Medusa has reported a 30% quarter-on-quarter increase in production during the June quarter, as grades increased at the Co-O mine, in the Philippines.
Gold production increased to 23 846 oz, compared with 18 390 oz in the previous quarter, while gold sales during the same period increased to 22 296 oz, from 17 909 oz.
All-in sustaining costs (AISC) for the quarter decreased from $1 555/oz to $1 180/oz, owing to the higher production.
Looking ahead, Medusa expects full-year production to reach between 80 000 oz and 90 000 oz at an AISC of between $1 050/oz and $1 200/oz.