Medusa looks to Cambodia

MEDUSA Mining has signed a memorandum of understanding that will see it diversify out of the Philippines, and potentially out of gold.

Medusa looks to Cambodia Medusa looks to Cambodia Medusa looks to Cambodia Medusa looks to Cambodia Medusa looks to Cambodia

The company signed the MoU with SEA Resources regarding an exploration opportunity in the Prek Kampi region of Cambodia.

SEA is in the final stages of securing the grant of the license.

The main target of the project will be gold and copper, but also potentially oil and gas and precious stones.

The parties have until the end of March to negotiate an earn-in under which Medusa can reach up to 70% of the license by spending US$3 million over four years, including a minimum $700,000.

SEA will manage exploration, which will be approved by Medusa.

Once a prefeasibility study or preliminary economic assessment has been completed, Medusa and SEA will cont...

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