PERTH (miningweekly.com) – Gold miner Medusa Mining has reported an increase in production from its Co-O mine, in the Philippines, during the three months to March, compared with the previous quarter.
Gold production in the March quarter reached 24 802 oz, up from the 20 792 oz produced in the December quarter, with gold sales also up from 20 760 oz to 23 669 oz.
The increase in gold production resulted from higher head grades achieved during the March quarter, resulting in all-in sustaining costs dropping from $1 346/oz to $1 118/oz.
Medusa on Monday maintained its guidance for the full 2020 at between 95 000 oz and 105 000 oz, and all-in sustaining cost estimates at between $1 025/oz to $1 125/oz, but warned that the guidance was dependent on the impact of the Covid-19 pandemic and the travel restrictions in place, as well as the Enhanced Community Quarantine Order, which was issued by the provincial government in early April.
Work at the Co-O mine was suspended for a six-day period, but the mine was granted permission to resume production on April 15.