PMEA Blog

Fairfax Securities has issued a note on Medusa Mining (ASX, AIM: MML; TSX: MLL), following a recent visit to the group’s Co-O mine in the Philippines, saying it feels that future developments at the project will continue to add value.

The visit helped the broker gain a clearer idea how future production growth is likely to evolve.”We have taken a conservative approach to this by raising the production profile from 100,000 ozpa to 130,000 ozpa by 2012 through incremental expansions from Co-O, maintaining a long term cash cost of US$200/oz” it said. It sees considerable organic potential for Medusa to expand production substantially.

Read more..