Precious Metals
Medusa Mining plans to produce 90,000 ounces gold this year
Medusa Mining plans to produce 90,000 ounces gold this year
Medusa Mining (MML.AX) has released its official production and cost guidance for the
current financial year which ends in June 2021. The Australian company intends
to produce 90-95,000 ounces of gold from its Philippines-based Co-O gold mine.
The gold will be produced at an all-in sustaining cost of $1200-1250 per ounce which is higher than the $1132/oz in FY 2020 and this increase is being blamed on the COVID-19 related increase in expenses. At the current gold price of approximately $1900/oz, Medusa Mining should still be able to generate in excess of US$60M in free cash flow from its operations (excluding taxes). At the current exchange rate, that’s approximately A$80M which makes Medusa’s current market capitalization of A$183M (and enterprise value of A$165M) quite attractive given the 330,000 ounces of gold in reserve categories and an additional 950,000 ounces in the resource categories.
Disclosure: The author has no position in Medusa Mining.
Democrat Sen. Bob Menendez Steps Down As Foreign Relations Chair After Indictment Over Gold Bar And Other Bribery Schemes
Democrat Sen. Bob Menendez Steps Down As Foreign Relations Chair After Indictment Over Gold Bar And Other Bribery Schemes
Update (4:40pm ET):…
‘Higher For Longer’ Reality-Check Wrecks Bonds, Banks, & Big-Tech
‘Higher For Longer’ Reality-Check Wrecks Bonds, Banks, & Big-Tech
Despite being told – for months – that The Fed wanted to keep rates…
Will Your Gold and Silver Transactions Be Reported to the Government?
Liberty Safe, the nation’s largest manufacturer of gun safes, recently fell into hot water. The company provided the access code for a customer’s safe…
-
Companies22 hours agoEye on Lithium: A sniff of Sigma-like success has ASX hard rock explorers moving to Brazil
-
Companies10 hours agoFPX Nickel shares rally on battery metals MOU
-
Uncategorized22 hours agoASX Small Caps and IPO Weekly Wrap: How bad was it? I’m honestly afraid to look…
-
Companies15 hours agoSolaris Resources’ (TSX:SLS) Lowell Mineral Exploration Earns Level 1 Carbon Footprint Badge from Ecuador’s Ministry of Environment
-
Uncategorized20 hours ago3 ETFs for the Conservative Investor to Buy and Hold
-
Drilling News15 hours agoStandard Lithium Reports 2023 Full Year and Fourth Quarter Results
-
News Releases17 hours agoTembo Gold Provides Corporate Update
-
Financing News3 hours ago
/C O R R E C T I O N — Orex Minerals Inc./
