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Market: AIM / ASX : TSX
Sector: Gold Mining
Epic: MML
News: Latest news
Web Site: Medusa Mining
Other Articles: 24-02-201021-01-201019-01-2010

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Thursday March 11, 10:17Eco Animal Health Group: moves into US and China could be transformational

Aivlosin® now accounts for more than half of global sales for ECO. Sales in China during FY 2009 were more than 60% ahead of the previous year, and expectations for FY 2010 indicate similar progress.

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Thursday March 11, 07:27BP shells out US$7 billion for Devon Energy's assets in Brazil, Gulf of Mexico and Azerbaijan

In addition, BP will sell to Devon Energy a 50 percent stake in BP's Kirby oil sands interests in Alberta, Canada, for US$500 million.

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Tuesday March 09, 09:55Nidec Corporation adds third factory and laboratory in Dalian City, China

Nidec Corporation (NYSE:NJ), the Japan headquartered manufacturer of small-to-mid-size motors, fan motors, and pivot assemblies, is to expand its presence in China through the construction [...]

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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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Tuesday, August 26, 2008

Medusa Mining updates JORC reserve estimate for Co-O Mine

Medusa Mining, the expanding gold producer in the Philippines, announced a updated JORC compliant Ore Reserve estimate at the Co-O Gold Mine.

The Co-0 Mine now has a probable reserve estimate of 721,000 tonnes grading 10.77 grams per tonne gold, containing 249,000 ounces.  There is also “additional potential” mining inventory of 949,000 tonnes at an estimated grade of 10.6 grams per tonne gold containing a further 323,000 ounces of gold.  

Medusa’s gold operations in the Philippines are undergoing an expansion phase to move production up to an initial rate of 40,000 ounces of gold per annum, and eventually a target of 100,000 ounces per annum.

The reserve estimate was based on an indicated resource of 1.048 million tonnes grading 11.63 grams per tonne gold and the additional potential mining inventory was derived from the inferred resource.

Golder Associates, who classified the ore reserves, based its assumptions on a mining diluted mining width of one metre, a block cut-off of 3 grams per tonne gold, a dilution factor of 10% at 0 grams per tonne gold and a mining recovery of 73%.

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