Medusa Mining targets 75 000 oz FY gold output

Philippines-focused gold miner Medusa Mining on Tuesday reported revenue was down by 47%, to $40.9-million, compared with $78.3-million for the corresponding period in the previous year, owing to decreased gold production as a result of planned...

$70-million mill and mine upgrade for gold producer

Philippine-focused gold producer Medusa Mining is set to perform a $70-million remodel on its current Co-O mill and mine site, in order to increase its yearly production target to 200 000 oz.

Medusa sees FY output at 100 000 oz to 110 000 oz

Gold miner Medusa Mining expected to produce between 100 000 oz and 110 000 oz of gold during the 2011/12 financial year, the company reported. The company significantly increased its rate of underground development at its Co-O mine, in the...

Medusa doubles half-year profit, output hits record

Philippine-focused gold producer Medusa Mining has reported a 105% increase in its interim net profit , while revenues increased by 89%, on the back of higher output and strong prices. Net profit after tax increased to $58,1-million in the six...

Medusa sets aside $21m for exploration to boost organic growth

The board of Philippine-focused gold-miner Medusa Mining has approved a $21-million exploration budget to give its organic growth strategy a boost. Medusa is aiming to grow into a midtier miner, producing between 300 000 oz/y and 400 000 oz/y, MD...

Medusa reports 20% rise in quarterly output from Co-O mine

Philippines-focused gold producer Medusa Mining on Wednesday reported record quarterly production for the March quarter from its Co-O mine, located to the south of the city of Butuan, in the Asian country. Gold production during the period...

Medusa doubles Philippines mine gold reserve

ASX-listed gold producer Medusa Mining, though its Philippines operating company, Philsaga Mining Corporation, has completed a Joint Ore Reserve Committee compliant ore reserve estimation for the Co-O mine. Thee probable reserve now stood at...