Medusa Mining reports strong full-year results, targets 100,000-110,000 oz gold production in current year
August 30th, 2011
Filed under: General News, Mineral - Gold, Operator - Medusa Mining Ltd
Medusa Mining (LON:MML, ASX:MML) reported strong full-year financial and production results and is targeting to produce 100,000 to 110,000 ounces of gold in the current full-year at cash costs of around US$200 per ounce.
Pretax profit before interest, depreciation and amortisation rose to US$120.7 million in the year to end-June 2011, up 64 percent year-on-year from US$47 million. The company also posted a 58 percent revenue growth to a record US$149.6 million due to increased gold production and a higher price received on sale of gold.
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