Medusa Mining

Medusa Mining is an Australian gold producer publicly listed on the ASX, operating exclusively in the Philippines. In 2004, the company finalized a merger with Philsaga Mining Corporation, owner of the high-grade, underground Co-O Gold Mine. This marked the beginning of the company's redevelopment efforts, with an initial production target of 40,000 ounces per year.

Over the years, Medusa Mining has undergone several expansions to increase its production capacity. The Phase 1 expansion aimed to reach 60,000 ounces annualized, while the Phase 2 expansion successfully achieved an annualized production of 100,000 ounces. The company's Phase 3 expansion, which began in 2012, involved upgrading the mine hoisting capacity and constructing a new mill.

Medusa Mining's current mineral resources and ore reserves are reported according to the JORC Code 2012 guidelines. The company's commitment to transparency and regulatory compliance is evident in its adherence to reporting standards. Post-IPO Equity investment at 25 February 2022 amounted to $3.83M, signaling continued investor interest in the company's growth and potential.

In summary, Medusa Mining's strategic focus on gold production in the Philippines, coupled with its ongoing expansion efforts and adherence to industry regulations, positions it as a compelling investment opportunity in the mining sector.