Medusa Mining (LSE:MML)

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Medusa Mining (LSE:MML)

Postby Pixel8r » Fri Mar 25, 2011 10:05 am

I was turned onto Medusa Mining by Jimbo over at GEI recently and bought some 10 days ago during the recent dip and am already up 16%. Thanks for the tip Jimbo. :thumbup:

Medusa Mining

Gold producer focused on organic growth in the philippines.

Listed on;

ASX : MML
LSE : MML
TSX : MLL

Here's a recent investor presentation - http://www.medusamining.com.au/newsroom/asx/2011/110225_presentation.pdf

Seems like a cash cow to me, this taken from their recent half yearly report;

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Re: Medusa Mining (LSE:MML)

Postby Does Commute Abit » Wed Apr 06, 2011 10:34 am

Medusa Mining Limited: Co-O Drilling Continues High Grade Results
http://newsblaze.com/story/201104050243 ... story.html

I've seen enough, this company continues to look promising, so have taken a position today in Medusa mining. :thumbup:
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Re: Medusa Mining (LSE:MML)

Postby Does Commute Abit » Thu Apr 07, 2011 9:20 pm

Rip snorting 7% gain today.........
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Re: Medusa Mining (LSE:MML)

Postby Pixel8r » Fri Apr 08, 2011 11:11 am

Diet Cola Addict wrote:Rip snorting 7% gain today.........

I wish as always I'd bought more now. :roll:
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Re: Medusa Mining (LSE:MML)

Postby Pixel8r » Sun May 29, 2011 9:38 pm

Very strong technicals on Medusa currently - http://www.barchart.com/opinions/stocks/MML.LS
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Re: Medusa Mining (LSE:MML)

Postby Pixel8r » Wed Jun 22, 2011 8:58 am

Check out the cash cost! :shock:

ANNOUNCEMENT

22 June 2011

PRODUCTION GUIDANCE FY 2011/12

SHAFT UPGRADE & NEW Co-O MILL UPDATE

Medusa Mining Limited ("Medusa" or the "Company"), through its Philippines subsidiary, Philsaga Mining Corporation ("Philsaga"), is providing a forecast for its gold production for the financial year commencing 1 July 2011, an update on shaft upgrades and progress of the new Co-O Mill.

Key points are:

-- Production guidance for FY2011/12, between 100,000-110,000 ounces at cash costs of circa US$200 per ounce;

-- Major upgrade of Agsao Shaft and additional internal shaft access from the Baguio Shaft;

-- New Co-O Mill Capex reduced by US$10 million to approximately US$70 million.

Managing Director Peter Hepburn-Brown commented:

"We are continually striving to improve our operations. The new Agsao Shaft winder is expected to be in place during July and the completion of the Saga Shaft to Level 6 is expected in late in 2011. It is planned that the Saga Shaft will be ready to haul ore early in 2012 from Level 6, and combined with the increased development rate, will enable the Company to supply increased amounts of ore to the new Co-O Mill on its completion. It is intended that the Saga Shaft will be continued to Level 8.

It is also pleasing that we should now be able to achieve considerable savings on Capex with the new mill and that we are still on-track to receive permits for the expansion around late September"...


http://www.advfn.com/p.php?pid=nmona&ar ... ol=L%5EMML
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Re: Medusa Mining (LSE:MML)

Postby Pixel8r » Wed Jul 27, 2011 12:10 pm

Holdings in Company

Medusa was informed today that as of 25 July 2011 Vanguard Precious Metals and Mining Fund was beneficially interested in a total of 23,740,000 ordinary shares of nil par value in the Company which represents approximately 12.61% of the issued share capital of the Company and an increase in shareholding of 2,015,000 ordinary shares since the previous notification by Vanguard Precious Metals and Mining Fund as announced on 13 June 2011. The registered owner of the 23,740,000 ordinary shares is Jpmorgan Chase Bank, N.A.
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Re: Medusa Mining (LSE:MML)

Postby Quest » Wed Jul 27, 2011 2:45 pm

"Medusa Mining Limited (“Medusa” or the “Company”), through its Philippines operating
company, Philsaga Mining Corporation (“Philsaga”), advises that it has increased the
Global Resources at its Co-O Mine by 30% to 1,960,000 ounces from 1,501,000
ounces (and after taking into account gold produced since 21 June 2010)."

http://www.medusamining.com.au/newsroom ... 27_coo.pdf
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Re: Medusa Mining (LSE:MML)

Postby Pixel8r » Fri Feb 10, 2012 8:46 am

New investor presentation out today - http://www.rns-pdf.londonstockexchange. ... 12-2-9.pdf

SNAPSHOT OF MEDUSA

  • Un-hedged, low cost, dividend paying gold producer focused on organic growth in the Philippines
  • 5 year, 2-phase growth path to production of 400,000 ounces per year underpinned by strong cash flow from Co-O Mine (narrow vein underground)
  • Targeted production:
    • FY 2012 (2nd revision): 75,000 ounces at cash costs circa US$230 per ounce
    • FY 2013: 120,000 ounces at cash costs circa US$210 per ounce
    • FY 2014: 200,000 ounces at cash costs circa US$220 per ounce
  • Co-O Mine Resources and Reserves to be maintained at current levels
  • Conceptual exploration target size** of Co-O Mine of 3 to 7 million ounces
  • Excellent exploration upside (820 km2 of tenement):
    • high grade vein and disseminated bulk gold targets, plus nine copper targets
    • exploration budget for FY 2012 of US$27M
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Re: Medusa Mining (LSE:MML)

Postby JIMBOWEN » Fri Mar 16, 2012 5:14 pm

Hi Pixel,

I've just joined this site after the recent friction on the GEI site!

MML remains my core gold miner and I've yet to find a midcap that has a better growth profile and such low cash costs. I have my eyes on 2015/16 as MML should have quadrupled production to 400,000oz pa at an average cost of $350/oz. All will be self funded and I'd expect a much higher dividend by then. I can see it trading sideways in the short term as the last couple of quarters production figures have been lower due to the mine development. However MML should be producing around 30,000 oz per quarter by around mid/Q3 2012, which should be positive. In the meantime, there could be plenty of news out on the Co-O resource, Bananghilig deposit and copper deposits. Looking forward to mid 2013, when we are producing 200,000oz annualised

Jim
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Re: Medusa Mining (LSE:MML)

Postby Pixel8r » Fri Mar 16, 2012 9:28 pm

JIMBOWEN wrote:Hi Pixel,

I've just joined this site after the recent friction on the GEI site!

MML remains my core gold miner and I've yet to find a midcap that has a better growth profile and such low cash costs. I have my eyes on 2015/16 as MML should have quadrupled production to 400,000oz pa at an average cost of $350/oz. All will be self funded and I'd expect a much higher dividend by then. I can see it trading sideways in the short term as the last couple of quarters production figures have been lower due to the mine development. However MML should be producing around 30,000 oz per quarter by around mid/Q3 2012, which should be positive. In the meantime, there could be plenty of news out on the Co-O resource, Bananghilig deposit and copper deposits. Looking forward to mid 2013, when we are producing 200,000oz annualised

Jim

Hi Jimbo,

I am glad to see you here finally :D , I agree that things do look very attractive for the future with MML.

Take a look at Endeavour Mining (EDV.TO), they seem to be a major growth story with decent management to me, although not as low average cost.

Pix.
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Re: Medusa Mining (LSE:MML)

Postby Pixel8r » Wed Mar 21, 2012 8:51 am

Directors' Shareholdings

Medusa Mining Limited ("Medusa" or the "Company"), was informed today that Peter Hepburn-Brown, Managing Director, has bought 2,000 ordinary shares of no par value in the Company today at an average price of A$5.18 per share.

Following the purchase of Medusa shares as described above, Mr Hepburn-Brown's total beneficial ownership in the Company is 17,000 ordinary shares of no par value, representing approximately 0.01% of the issued share capital of the Company. Mr Hepburn Brown also has an interest in 250,000 performance rights as issued on 5 December 2011.
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Re: Medusa Mining (LSE:MML)

Postby JIMBOWEN » Sun May 20, 2012 6:43 pm

Medusa update

Hi All,

I also attended the MML presentation last Thursday and can only echo Plasybryn’s comments. Hearing Peter and Geoff talk just reinforced how much we have to look forward to as long term investors in MML. Regardless of what the share price does in the short term, I’m confident that they will be producing 400k/oz pa by 2016. Anoling will provide a useful source of ore to the Co-O mill and should ensure consistent production of 200k/oz pa. It was encouraging to hear that the dividend will be reviewed as soon as they have $250m cash in the bank (which will be mid 2014 based on $1500/oz gold). Re Bananghilig they are confident there is a lot more than 1m oz but want to get this into production and can then focus on expanding.

The government is reviewing the mining code and talk of increased taxes/royalties are overblown. It is more likely that the gov are trying to clamp down on illegal miners who are causing environmental damage.

70% of shareholders are institutions (35% are in US).

It’s well worth going to the presentation next Thursday to hear from the management if you can

Jim

This is also from another investor who attended....

I attended the Fairfax do yesterday with Geoff Davis (Chairman) & Peter Hepburn-Brown (MD). I have been an investor for at least 4 years so I know the story pretty well and am a die in wool fan of this great small mining company. If I went into yesterday's meeting feeling a little deflated by recent events, I came out even more bullish than usual on the prospects over the next 4 years. Without going into great detail, as some of you will join the Coy. next Thursday and Fairfax note has already been published, what I would say is that you have to keep reminding yourself what is coming.
By Q3 we will have the upgraded Bananghilig reserve announcement (c. 1m ozs). That triggers completion of the BFS which goes to the Govt by end of year. They grant permits 6/9 months later. But going back to Co-O the first critical milestone is completion of the Saga shaft by year end, which will enable them to extract higher quality ore, thereby reducing costs and upping production.
The "upgraded environmental clearance cert." for the enlarged mill should be announced in Q3/Q4. What is also important is that they hope to start production at Anoling by late next year (licence mid 2013). This will fed another 50,000 ozs into the Co-O mill and give them more flexibility. If they need to carry out repairs or upgrades they will be able to do so without jeopardising the 200,000 oz per year target. Everything remains on track to be self funded. Once the capex is accumulated for Bananghilig, then they will review the dividend policy (c. mid 2014). They also still intend to monetise the Copper reserve which they continue to drill out over the next 18 months. Some will fed into the Capex needs, but the rest will flow to shareholders. Two larger players have already shown interest, but Medusa will drill it out themselves to maximise returns. They have 9 copper targets!
Gold production costs remain around $250 failing to $210 after completion of Saga Shaft and then av. around $400 once the lower grade open pit mine (Bananghilig) is up and running mid 2015. Reading between the lines, there is so much mineralisation on their acreage that the future looks very bright for this well run, disciplined company. Summary: Low costs, 3 mines, 65000 ozs to 400,000ozs, exploration & copper, self funding, no debt, Fidelity a major holder, increasing dividend policy etc etc. No brainer IMO but DYOR.

Finally, here's a link to the Fairfax broker comments - they have a 610p price target

http://www.proactiveinvestors.co.uk/col ... -9388.html
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Re: Medusa Mining (LSE:MML)

Postby Pixel8r » Mon Aug 06, 2012 8:36 am

Co-O MINE MINERAL RESOURCE UPDATE

6 August 2012

Medusa Mining Limited ("Medusa" or the "Company"), through its Philippines operating company, Philsaga Mining Corporation ("Philsaga"), advises that it has completed the annual resource estimate for the Co-O Mine.

In line with the mine expansion, the FY 2012 drilling has focused on infill drilling to increase confidence levels in key mining areas as well as stepout drilling along strike and at depth to demonstrate the excellent upside of the deposit. Whilst, the strike length has been increased by 400 metres to 2,000 metres, and is still open in all directions continuing to demonstrate excellent potential to add more resources in future years, many drill intersections undertaken in the FY 2012 drilling campaign are not incorporated into the resource model as the spacing of the drilling is still too wide along strike and down dip.

A 3 g/t gold lower cut-off has been applied to the resource (previously a 0 g/t gold cut-off), resulting in total resources of 6,215,000 tonnes containing 2,019,000 ounces at a grade of 10.1 g/t gold (compared to 1,960,000 ounces at 9.6 g/t gold in FY2011 and after taking into account gold produced of 60,595 ounces since 30 June 2011). The Indicated Resource has increased by 16% to 715,000 ounces at 11.8 g/t gold (from 616,000 ounces at 12.0 g/t gold).
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Re: Medusa Mining (LSE:MML)

Postby Does Commute Abit » Fri Sep 14, 2012 4:03 pm » Firefox 15.0.1 Firefox 15.0.1  Windows Seven 64 bits Windows Seven 64 bits  Screen Resolution: 1366 x 768 1366 x 768

Responded very well to last nights's QE3:

MML.L 404.75 Up 46.75(13.06%)
:dance:
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Re: Medusa Mining (LSE:MML)

Postby Pixel8r » Wed Nov 14, 2012 9:55 am » Safari 6.0.2 Safari 6.0.2  Mac OS X Mac OS X  Screen Resolution: 1920 x 1200 1920 x 1200

CHAIRMAN'S ADDRESS - MEDUSA AGM 2012

15th November 2012, 11.00 am (WST),

Goldsworthy Room, Pan Pacific Hotel,

207 Adelaide Terrace, Perth, Australia

Dear shareholders,

My name is Geoff Davis and on behalf of my fellow Directors, I welcome you to this, the 9th Annual General Meeting of Medusa Mining Limited.

I am sure all shareholders are aware that this year has indeed been challenging as we've tried to balanceproduction with development, upgrade existing shafts and infrastructure at both mine and mill, some of which has been exacerbated by adverse weather events. I am however pleased to point out that as a result of these unfortunate incidents we are now in a much stronger position as the deficiencies and weaknesses in the project (which was constructed in the late 1980s) which were not previously evident have now either been addressed, or are being attended to.

The Phase 3 expansion of the Co-O project with a capacity to produce 200,000 ounces per year has two major facets. The first facet is the Saga Shaft at the mine, which is currently in the final stages of construction and due for commissioning just before Christmas. I consider the Saga Shaft a "game changer" and am pleased to report that its completion is on schedule with the sinking to 350 metres completed in the first week of September, and the winder and headframe being installed.

The second facet is the mill expansion with construction of a large new leach tank completed and commissioned, and the foundations for the SAG mill, crusher and the detoxification plant completed. I am pleased to report that the last major concrete pour took place last Saturday. All major equipment items are on site and construction is on schedule for commissioning in June 2013.

The Company spent US$37million on exploration during the year and achieved a significant increase in its resource base now totaling over 3 million ounces for the first time. We also completed a major re-interpretation of the Co-O Mine geology which has enhanced the upside for the resources to continue to grow in future years. Our aim at Co-O is to increase the resources to around 2.5 million ounces, which will provide an on-going mine life of approximately 10 years based on the 80% conversion factor for converting resources to reserves through on-going development. The strategy is to replenish at a minimum, the 200,000 mined ounces each year with new resource ounces.

In this financial year we look forward to the finishing the expansion of Co-O culminating in the completion of the Saga Shaft in late December 2012 and the commissioning of the new mill in mid calendar year 2013. In addition we also look forward to positive outcomes from the Bananghilig Deposit feasibility study now underway, followed by submission to the government of the application for the necessary construction permits for this new 200,000 ounce per year project.

During the year our work force (inclusive of contractors) increased to approximately 3,000 and our community activities also expanded to provide additional services as well as partnering with a number of groups in a way that enables that expansion of services to be more effective. I am also pleased to report that our Lost Time Accident Rate for the year has decreased to 1, and for comparative purposes, is below the West Australian Gold Mining industry's latest figures. Health and Safety is and will always be a very important part of the Company's focus and activities.

In July this year a government review of the Philippines mining industry was completed and guidelines for future changes to its operation issued by the President of the Philippines in Executive Order number 079. There is no immediate effect on the Co-O operations, however we caution that, under current guidelines, timely receipt of the permits for the Bananghilig Deposit will require the government to pass new tax measures aimed at increasing its revenues before construction permits can issued.

Finally, I wish to thank all our supportive shareholders, my fellow directors and Perth office staff, our dedicated managers, staff and employees in the Philippines, and numerous others in the stockbroking and financial communities who support the Company's progress.

Thank you.

Geoff Davis

Chairman
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Re: Medusa Mining (LSE:MML)

Postby JIMBOWEN » Mon Dec 17, 2012 10:55 pm » Firefox 15.0.1 Firefox 15.0.1  Windows Seven 64 bits Windows Seven 64 bits  Screen Resolution: 1366 x 768 1366 x 768

Here is a pretty comprehensive overview on MML.

http://commodityshares.net/?p=91

I think we are close to a turning point as the Saga shaft is nearly complete and this is described as a "game changer" my management. Production should be starting to pick up now and MML should be generating a lot of cash flow next year
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