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.