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Additional Information

Market:	ASX
Sector:	Gold Mining
EPIC:	MML
Latest Price:	4.98 (-1.58% )
52-week High:	8.71
52-week Low:	4.34
Market Cap:	940.36M

1 year chart

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Medusa Mining Full Medusa Mining profile here

Medusa Mining, a public company listed on the ASX and LSE, is an Australian based gold producer, focused solely on the Philippines. Medusa's corporate strategy is to become a mid-tier, 400,000 ounce per year, low-cost gold producer.

The Company has completed the two-phase expansion of its high grade Co-O Mine operations to a production level of 100,000 annualised ounces. The Company has approved a Phase 3 expansion to build an expanded mill with capacity for 200,000 ounces of production.

Ongoing drilling is verifying and expanding the Bananghilig Deposit with the aim of defining one million ounces of reserves to initiate feasibility studies.

Further potential upside exists for the discovery of copper and additional gold deposits within the tenement holding of more than 800km2.

Medusa Mining announces 1:10 bonus issue

Monday, March 08, 2010 by Proactive Investors

Medusa Mining (ASX/AIM: MML: TSX: MLL) has announced a one for ten bonus issue of shares to all shareholders of the Company.

In a statement, the Company said it had achieved several significant milestones in the last calendar year and the bonus issue is in recognition of the invaluable support the Company has received from its shareholders.

The bonus issue was also designed to encourage greater liquidity in Medusa shares.

Geoff Davis, Managing Director of Medusa, said:

“The Board is extremely pleased to be in a position to reward shareholders as a result of the Company having rapidly expanded its production over the last 12 months and having met all targets on time."

This is indeed a great achievement by our team in the Philippines, and as one of the lowest cost producers in the world with expectations of an expanding resource base, Medusa has now set itself up for a long and productive future.”

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