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Medusa Mining Ltd (MML)

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Thursday 11 April, 2013

Medusa Mining Ltd

Update on Bananghilig Scoping Study

RNS Number : 1116C
Medusa Mining Limited
11 April 2013
 



MEDUSA MINING LIMITED

ABN: 60 099 377 849

Unit 7, 11 Preston Street

Como  WA  6152

  PO Box 860

Canning Bridge  WA  6153   

Telephone:  +618-9367 0601   

Facsimile:  +618-9367 0602

Email:  [email protected]

Internet: www.medusamining.com.au

 

11 April 2013

 

AMENDMENTS/CLARIFICATION TO CERTAIN KEY PARAMETERS OF THE BANANGHILIG SCOPING STUDY

 

(ASX & LSE: MML)

 

 

Further to an announcement dated 09 April 2013 pertaining to a Scoping Study on the Bananghilig Gold Deposit the Company wishes to advise amendments/clarification to certain key parameters of the Scoping Study.

 

Amendments/clarification to Key Scoping Study Parameters

 

·     Indicative recovered head grade 1.3 g/t gold;

·     Indicative mining OPEX of US$10.50 per tonne;

·     Indicative waste to ore strip ratio of 4:1 (after pre-strip);

·     The cost of pre-strip is included in CAPEX costs of US$220 million;

·     Indicative cash costs: US$565 per ounce and excludes royalties.

 

For further information please contact:

 

Australia


Medusa Mining Limited

+61 8 9367 0601

Peter Hepburn-Brown, Managing Director


United Kingdom


SP Angel Corporate Finance LLP (Financial Adviser & Broker)

+44 (0)20 3463 2260

Ewan Leggat/Laura Littley


 

DISCLAIMER

 

This announcement may contain certain forward-looking statements. The words 'anticipate', 'believe', 'expect', 'project', 'forecast', 'estimate', 'likely', 'intend', 'should', 'could', 'may', 'target', 'plan' and other similar expressions are intended to identify forward-looking statements. Indications of, and guidance on, future earnings and financial position and performance are also forward-looking statements.

 

Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of Medusa, and its officers, employees, agents and associates, that may cause actual results to differ materially from those expressed or implied in such statements.

 

Actual results, performance or outcomes may differ materially from any projections and forward-looking statements and the assumptions on which those assumptions are based.

 

You should not place undue reliance on forward-looking statements and neither Medusa nor any of its directors, employees, servants or agents assume any obligation to update such information.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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