Medusa seals the deal

MEDUSA Mining says it has completed the $12 million transaction to acquire its Philippine partner Philsaga Mining after finalising the terms in August, giving Medusa full control of the Filipino gold assets that it plans to use to boost its production profile to 100,000oz per annum in about 12 months time.

As consideration for the $12 million deal, Medusa used a combination of cash and deferred payments along with the issuance of 25 million shares.