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Additional information
Additional Information
Market: AIM / ASX : TSX
Sector: Gold Mining
Epic: MML
News: Latest news
Web Site: Medusa Mining
Other Articles: 16-03-201008-03-201024-02-2010

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Monday March 15, 10:21Diamondcorp: a big cash injection and a lot of work to do

70% of the new money was raised from current shareholders, reflecting a hefty amount of faith in the management to deliver.

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Monday March 15, 11:38Calvin Klein owner buys Tommy Hilfiger for US$3 billion from Apax Partners

The New York listed shirt and neckwear company is paying €1.924 billion in cash and issuing €276 million in PVH common stock (approximately 8.7 million shares) to fund the transaction.

 

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Monday March 15, 08:01China's growth boosting commodity prices

The latest economic figures from China have put pressure on the dollar and boosted a number of high-yielding currencies, including the Australian dollar and the South African rand.

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Medusa Mining

Medusa Mining

Medusa is an expanding gold producer in the Philippines, listed on the Australian Stock Exchange (ASX;MML), London AIM (AIM: MML) and Toronto Stock Exchange (TSX: MLL) markets. With an expanding resource base now at 1.2million ounces at 13.3g/t gold and production on track to achieve 60,000 ounces annualised in Q3 09 and 100,000 ounces annualised early 2010, it is anticipated that long term cash costs will be approximately US$200/ounce. Numerous new discoveries of gold and copper-gold are anticipated in the future within the large regional tenement package totalling 820km². The operations are an integral part of the local communities.

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Friday, August 15, 2008

Medusa Mining announces discovery of magnetite-copper-gold porphyry

Medusa Mining, best known for producing gold from the high grade Co-0 Mine in the Philippines, announced that first pass drilling at the Kamarangan Prospect had intersected “visible copper and molybdenum”. Drilling also intersected massive magnetite with copper and gold mineralisation in the overlying skarn rocks.

Assays from upper sections of the first two holes had been returned, and included 11 metres grading 0.5 grams per tonne gold, 0.66% copper in Hole Kam 1, which was within the skarn rocks. The second hole, drilled through weathered diorite, and returned 29 metres grading 0.15% copper, and 3.2 metres grading 1.35 grams per tonne gold and 1.49% copper in skarn rock. The assays from the remainder of the holes are pending, as are results for the magnetite grade.

Geoff Davis, Managing Director of Medusa, stated:

"The Company is delighted with the success from the first two on-going holes at Kamarangan. These demonstrate that the previously identified regional-scale features are indeed linked to a potentially major mineralised porphyry system, with indications of significant mineralisation in the surrounding rocks. As soon as more rigs are available, Kamarangan together with Lingig and the on-going drilling at Co-O will be the major foci for some time to come."

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