PMEA Blog

In a note to investors, FairFax Securities said that Medusa Mining (ASX:MML, LON:MML, TSX:MLL) “continues to demonstrate a solid reserve base” for its Co-O gold mine in the Philippines.

Last week, Medusa reported a new resource estimate for Co-O, which put the probable reserve at 505,000oz of gold contained within 1.46 Mt (million tonnes) grading 10.7g/t gold. Just a week earlier, the company reported record gold production at the property - with 25,012oz being produced for US$182/oz - for the fourth quarter.

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