PERTH (miningweekly.com) – Gold miner Medusa Mining is forecast a production target of between 90 000 oz and 95 000 oz for the 2021 financial year from its Co-O gold mine, in the Philippines.
All-in sustaining costs (AISC) for the 2021 financial year have been targeted at between $1 200/oz and $1 250/oz.
The target compared with the 95 057 oz produced in the 2020 financial year, at an AISC of $1 132/oz.
The company said on Friday that the slight increase in year-on-year AISC had been anticipated, after taking into account the ongoing impact of the Covid-19 restrictions.
The production and cost targets for the 2021 financial year did not include any provision for the construction of the proposed decline at Co-O, which remains on hold until the Covid-19 restrictions are lifted.
The guidance comes just days after Medusa reported a fatality at the Co-O mine, after an employee was electrocuted during an inspection process of submersible pumps at the underground main pump station.
Operations at the mine were not suspended following the fatality.