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Medusa Mining plans to produce 90,000 ounces gold this year

Medusa Mining plans to produce 90,000 ounces gold this year

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This article was originally published by Caesars Report

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.

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“We’re In For A Really Big Mess” – Charles Nenner Warns “War Cycle To Really Heat Up In 2023”

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Via Greg Hunter’s USAWatchdog.com,

Renowned…

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