Medusa forecasts slightly softer year ahead

MEDUSA Mining is set for a slightly softer production year in Philippines after providing guidance of 90,000-95,000 ounces at all-in sustaining costs of US$1200-1250 per ounce.
Medusa forecasts slightly softer year ahead Medusa forecasts slightly softer year ahead Medusa forecasts slightly softer year ahead Medusa forecasts slightly softer year ahead Medusa forecasts slightly softer year ahead

Medusa's Co-O mine in the Philippines

That compares with last year's output of 95,057oz at $1132/oz, with guidance for that year having been 95,000-105,000oz at $1025-1125/oz.

Medusa is unhedged.

Cash at the start of the current financial year stood at $47.1 million, having increased by $23.7 million over the course of 2019/20.

Shares in Medusa were up 1.7% to A90c in early trade, capitalising the company at $185 million.

The stock has more than doubled in value over the past six months.