Medusa Share Discussion Threads

[deka1] 27/7/2015 14:51

Steve Geoff holds over 2mil shares,at his time of life he needs the share price to motor again , so maybe he will stay around for another year or so to do all he can to help it along lol, if does go I think Rob will fill his boots very well.

[stevea171] 27/7/2015 14:28

A bit disappointing the result but a good explanation of all the work in progress to lift the mine output to 125k next year and 150k? the year after.

AISC figure is too high in light of the current gold price. Exploration drilling at Lingig needs to be axed along with some of the other discretionary items until the gold price gets back to $1200 plus.

The share price is way too low, having just lost 40% on the gold price fall in the past 2 months but with no recovery at all in the past 6 days despite now posting Q4 results in line with company forecasts. To get the share price back to $1 plus we need the cartel to take a summer break and the gold price to quickly reverse recent losses!

What will Geoff do now? Will he hang up his boots when the annual report and accounts are issued next month, at the AGM in October or carry on for another year? With so much going on in the mine to occupy Rob, and the share price now back in a black pit at 62.5c, imo it would be good for shareholders if Geoff could carry on into 2016 to see the company's recovery and share price achieve some traction ....

[stevea171] 27/7/2015 11:05

QUARTERLY ACTIVITIES REPORT PERIOD ENDED 30 JUNE 2015
OVERVIEW:

Co-O MINE PRODUCTION

 Production: 26,542 ounces at a head grade 6.01 g/t gold, cash costs of
US$390 per ounce and All In Sustaining Costs (“AISC”) of US$1,076 per
ounce (March 2015 quarter of 23,940 ounces at a head grade of 5.84 g/t
gold and cash costs of US$391 per ounce. AISC was US$1,073 per
ounce).

 Production guidance: FY to 30 June 2015, production of 98,539 ounces
within guidance of 95,000 to 100,000 ounces. Guidance for FY 2015-16 is
120,000 to 130,000 ounces.

 Mill performance: gold recovery averaged 94% (September 2014 quarter
94%).

 Development: A total of 21,150 metres of horizontal and vertical
development completed for FY. All stopes will be new design stopes by
early in the December quarter. First Level 8 rail loop line in use.

 Shaft haulage: Haulage system de-bottle-necking continuing. Competing
L8 ore haulage with materials for increasing development at Levels 8, 9
and 10, and waste generation from Service Shaft and ventilation raises.

 Service Shaft: Service Shaft collar concrete pouring commenced,
underground Alimak raising 70% completed, stripping of raises to final
dimensions should commence in December quarter.

 Resource drilling: Extensive underground drilling between Levels 12 and
16 due to commence in December quarter.

Co-O MINE EXPLORATION
 Resources & Reserves: New estimates due in September 2015 quarter.
 Underground resource drilling results include 0.95m @ 61.6 g/t Au;
1.0m @ 31.8 g/t gold; 1.0m @ 23.4 g/t gold; 1.05m @ 22.4 g/t gold; and
1.2m @ 15.6 g/t gold.
 Drilling planned for West Road 17 veins in December 2015 quarter.
 Surface exploration continuing at South Agsao veins.

TAMBIS REGION
 Bananghilig Deposit: Resource modelling to commence end of
September quarter.
 Guinhalinan Prospect: Field work continues to delineate extensions of
the potentially mineralised stratigraphy beneath soil cover.

 COAL EXPLORATION
 Regional mapping of coal bearing stratigraphy nearing completion.
Several seams identified ranging up to 2.3 metres thickness.
 Reconnaissance drilling to commence next quarter.

 CORPORATE & FINANCIALS (unaudited)
 Total cash and bullion on hand at the end of the quarter of approximately
US$14.6 million (approximately US$15.5 million at 31 March 2015).

[jfishy55] 27/7/2015 11:00

Quarterly report:

[roguetreader] 27/7/2015 09:39

Cheers Deka good read

[deka1] 27/7/2015 08:22

This is a good read, looks like Greece out of the euro by end of the year.

[deka1] 27/7/2015 06:24

Around 3.5koz less than we were hoping for, grades up to 6.1gt , the bottle necking not completely sorted yet but getting there,av price of gold sold for the qtr 1197/oz, and over 98.5kozs for the full year , right in the middle of the guidance .
As the bottle necking is gradually sorted the haulage rate will get upto optimum
and the guidance for current year 2016 of 120/130kozs is looking good,
just need gold price back up.

[stoph] 27/7/2015 05:31

Quarterly Production Figures are out

26542 ounces AISC $1076 Cash Costs $391 (us that is )Cash & bullion in hand $14.6m I had hoped for higher production but within annual target 98539 ounces for the year

[stevea171] 26/7/2015 17:08

Andrew Maguire, Friday 24/7.

Latest reference to ABX launch but no date so far. He says 'surprise launch' so maybe there is going to be no advance publicity or very little warning before the start up. Previously Autumn has been the latest launch time period, so we may be looking at September when there is likely to be maximum chaos if US markets finally take on a significant dive, funds bale out of stocks and into the PM's.

The 'season' he is referring to I take to be August/September which is the traditional start of the gold season when prices normally take off into the end of the year.

"A Gold And Silver Tsunami Is Forming

The LBMA Bullion Banks, of course, are having the advantage of trading COMEX halts through the OTC markets while hot money specs get hung out to dry. When this large short position is unwound, it will not be orderly, most definitely triggering market halts and gaps higher. Such are the broken paper markets but something big is coming that will end these games — this I am certain of.

I wish I could share some bullish news with you re the ABX but please be assured, when the surprise launch comes, it will have instruments and conduits that will disrupt the rehypothecated paper markets. With the season almost upon us, a PM tsunami is forming."

[stevea171] 25/7/2015 11:49

Aussie Dollar Tests Long-Term Trendline As China Contagion Spreads

Australian consumers are more worried about the medium term outlook than at the peak of the financial crisis, and rightfully so...

[deka1] 24/7/2015 21:50

the three day gold graph above is a beautiful example , see how the lines all cross at exactly the same point but three day in succession, exactly the sametime of day , exactly the same price, now that's clever !!!

[deka1] 24/7/2015 21:08

HE sure does Blue.

[bluelynx] 24/7/2015 19:30

Interview with Jim Grant he is Bullish on gold, and I think he speaks a lot of common sense.

[bluelynx] 24/7/2015 18:38

Below article relating to Chips previous post concerning a cashless world;

[deka1] 24/7/2015 17:26

Blue hi, as old Abe put it, all the people all the time !

[bluelynx] 24/7/2015 17:07

deka

Wool over the eyes - is a very good description of what TPTB have been carrying out for quite some time, surely they will loose control soon, all this deception has to fail, the true test will be interest rate rises in the US. But they seem masters at extent and pretend and the investment community are quite happy to play a long.

[deka1] 24/7/2015 16:45

Getting back to the China gold holding announcement of 1660 t,
The Peoples Bank Of China Is not the only Chinese institution that buys and holds gold there is also the State Administration of Foreign exchange,and the China Investment Corporation .

CMON Fellas ya gota add it all together for hells sake , wool over eyes comes to mind

[deka1] 24/7/2015 16:32

Bloomberg--- Anglo American and Lonmin cutting 6000 jobs each plat mines /gold mines, ,supply crunch down the line.

[bluelynx] 24/7/2015 16:20

This continuing plunge of the HUI day after day is quite breath taking and very scarys, surely true caputuation on a massive scale😵

[bluelynx] 24/7/2015 16:15

Interesting article The Death of gold Or Not

[deka1] 24/7/2015 14:23

Chip a frightening scenario ,you think the people would allow it,it would be very difficult to implement I think, a good chunk of the population is not on the radar, illegals, another good chunk are unemployed, a big chunk don't even have a bank account, but anything is possible .
I agree that that is the way things will be in a few decades perhaps .

[chipperfrd] 24/7/2015 13:56

Dek,

I believe that the continual attack on gold during periods of minimal liquidity is a very real indication of just how bad things are going for the monetary system and the global economy. With mountains of un-payable debt swamping sovereign states and corporates it has become necessary to ramp up financial repression to new heights circa Greece, et al.

The intention would appear to be to close off options for people's money by removing cash from the system so that interest rates can be moved into negative levels. Obviously cash has to be outlawed first to avoid a run on the banks which already have minimal levels due to the fractional reserve system and the consequential high debt/equity levels that they are running on.

If cash can be eliminated and capital controls can limit people's ability to move digital money to better jurisdictions (if any exist) then savings can effectively be taxed and people will be under pressure to spend rather than hoard. So GDP can be enhanced, banks will have no need to hold even the miserable levels (3%-5%) that they currently do and true monetary inflation can be hidden because governments will have no need to print actual currencies.

But the historic avenue for escaping such financial repression has primarily been gold - so firstly that must be crushed and (perhaps) hoarding of gold/silver discouraged or outlawed.

It all seems very extreme (and I truly hope I am wrong) but with so many countries already limiting the use of cash and pushing for it's elimination, it does all look as though this is the 'playbook' which is currently in motion.

If such a scenario is in fact in motion then the impact on the mining sector and all 'normal' fundamental economic analysis of their operations would be of no concern compared to the survival of the current monetary system and the financial elites who control it.
Chip

[deka1] 24/7/2015 13:33

Remember back in the 1990s after the bull in gold went to 870,then came the retrace for years, during those later years of the gold bear and gold had dropped down to the low 200s /oz,and the miners were struggling , our old enemies the Banks lent them money , but made the miners put hedging in place as condition of the loans,then when the noughties came , after Browns bottom,the next gold bull was let loose and you know the rest.
The miners had to wait for years to get the benefit of the gold rising price,they had to pay off the loans and then the hedge before profit they were making became all there's again, the banks had taken the lions share through the hedging deals.
I wonder !!!!!

[deka1] 24/7/2015 12:44

Thanks chip,
I cant help but notice a lack of talk in the media about mining costs being higher than the PMs prices, ie not much talk of the whole industry being distressed .