Posted in | News | Gold | Earnings

Medusa Mining Reports Gold Production Increase

Medusa Mining has announced that it has produced 25,114 ounces of gold in the March quarter. The Philippines focused Australia and Canadian listed miner said that gold production costs were US$191 per ounce after being recovered from an average grade of 11.58 g/t gold ore.

The production figure for the March quarter was lower than the 26,123 ounces of gold that were produced in the December quarter last year. The production cost for the December quarter was also lower at US$185 per ounce. However the production was slightly above the two quarters before that.

The cumulative total of gold produced in the past three quarters is 76,241 ounces. Medusa Mining has thus generated $92 million in cash from the sales. The company has a market capitalization of $1.56 billion. It has declared a 5 cents a share dividend that was paid out on March 23, 2011.

Medusa is now looking forward to future growth with the new plant at its Co-O mine. Permits for the same are expected to be completed by September and the construction will take another 21 months. Once it is constructed the new plant will have the capacity to produce 200,000 ounces of gold per annum. The company is also looking forward to new exploration results from its many drilling sites in the Philippines.

Joel Scanlon

Written by

Joel Scanlon

Joel emigrated to Australia in 1995 and worked for five years in the mining industry as an exploration geotechnician, using GIS mapping and CAD software. Upon moving to the North Coast of NSW, Australia Joel worked as a graphic designer for a leading consultancy firm. After that, he ran a successful business providing web services to businesses along the eastern seaboard of Australia. During this time, he developed and launched News-Medical.Net. Joel has been working with AZoNetwork since the company was founded in 2000.


Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    Medusa Mining Limited. (2019, March 19). Medusa Mining Reports Gold Production Increase. AZoMining. Retrieved on March 30, 2023 from

  • MLA

    Medusa Mining Limited. "Medusa Mining Reports Gold Production Increase". AZoMining. 30 March 2023. <>.

  • Chicago

    Medusa Mining Limited. "Medusa Mining Reports Gold Production Increase". AZoMining. (accessed March 30, 2023).

  • Harvard

    Medusa Mining Limited. 2019. Medusa Mining Reports Gold Production Increase. AZoMining, viewed 30 March 2023,

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Your comment type