Medusa Share Discussion Threads

[deka1] 09/4/2020 18:26

CTR hi, MML big employer in the area, over 4000 I think,don't know if it makes a difference to their decisions ,and at this time no covid cases in the area,


"The safety of our workforce and host communities is of the upmost importance to us. Since the outbreak of COVID-19, all necessary precautions have been put in place to avoid or minimise any COVID-19 health risk to our people while at work. There has been no known case among employees, or in the workplace, or in the municipalities where they belong."

[crossing_the_rubicon] 09/4/2020 11:10

Chance of exemption must be infinitesimally small...

Mining gold hardly a key industry.

[tightfist] 09/4/2020 08:36

$7.5m extra cash in the first 3 months! Underlines the anomaly.....

[deka1] 09/4/2020 08:00

Operational Update

Medusa Mining Limited (“Medusa”; or the “Company”;), through its Philippines affiliate, Philsaga Mining Corporation (“PhilsagaR21;), provides the following update on operations at the Co-O Gold Mine.
The safety of our workforce and host communities is of the upmost importance to us. Since the outbreak of COVID-19, all necessary precautions have been put in place to avoid or minimise any COVID-19 health risk to our people while at work. There has been no known case among employees, or in the workplace, or in the municipalities where they belong.
On 6 April 2020, Agusan Del Sur, the province in which the Co-O mine is located, has been placed under Enhanced Community Quarantine (ECQ), following an Executive Order (EO) issued by the Provincial Governor in response to COVID-19. Medusa’s current understanding is that the ECQ mandates people in the province having to stay at home, other than those working in essential or exempt industries.
Philsaga management had submitted to relevant authorities’ applications for exemption, seeking approval for continued operations on a controlled scale, with both the mine and the mill being manned by personnel residing nearby, so as not to totally hamper the economic interests of the people and the different sectors dependent on the company. We expect the outcome by early next week.
As a contingency, the Company has placed the operations on temporary suspension and has secured permission from the provincial government to have sufficient crew to conduct continuous care and maintenance activities. This measure would enable the immediate recommencement of operations when the ECQ will be lifted or should the exemptions be granted, whichever is earlier. A temporary suspension of operation for more than 7 days after the Holy Week may impact FY20 guidance.
The impacts of COVID-19, the ECQ and travel restrictions will continue to be monitored closely and Medusa will respond accordingly. We will work diligently to maintain the safety of our people, achieve the best results practicable and keep shareholders informed of any developments.
The Company is in a strong financial position with a cash equivalent balance of US$32.5m (US$25.0m at 31st December) and short term loan facility of ~US$5.7m as at 31 March 2020.

[rhuvaal2] 06/4/2020 09:39

I've been in Ruffer a few years and would have been better off in cash.... sold them today and am wondering what to do with this gold mine having a lead weight around its' neck..

edit: so tantalising, MML being the cheapest gold producer

[c9ajl] 06/4/2020 08:13

https://www.medusamining.com.au/wp-content/uploads/2020/04/200406_annual2020mineralresourcesandreservesupdate.pdf

[roguetreader] 03/4/2020 08:55

Yep, RICA has been a good choice for me so far, all be it a relatively small one.

[stevea171] 03/4/2020 08:18

Ruffer view. Lastly, I want to express a personal view. It’s one which reflects that of all of us at Ruffer – of gratitude to you for sticking it out over the lean times. To do so, you had to trust us that a shock was on the way, and that we would rise to meet it. (I had more confidence in the first of those than the second…). The battle to keep clients safe is not won – alas, it is never won. But the first onslaught of a bear market has been successfully navigated, and this review ends with a reiteration of our investment priorities – first and second, to keep portfolios safe, third, to make them sing.

In January - amid the roaring meltup in stocks - Ruffer proclaimed:

"the central plank of what we’re doing – that there’s a dislocation ahead, speaking of wealth-destruction and illiquidity – well, our sureness of that makes us lions!"

His firm's philosophy is built around the fact that clients love making money, but they hate losing it more than they like making it... something we suspect many "gurus" who have 'come-up' in the last decade of central bank largesse are about to discover this lesson the hard way.

[swallowsflysouth] 02/4/2020 11:39

Phillipines reaching for a new low. Villagers complaining of food shortages. Presidental re-action is shoot those who break the lockdown. Wonderful. A sign of things to come ?

[deka1] 31/3/2020 06:37

GOLD $2000/oz by end year imo,

[deka1] 31/3/2020 06:17

and you raja,stay safe

[arja] 30/3/2020 10:29

does not seem to have helped much deca1 . I still checkout this stock occasionally but
now mainly trade the indices with CFD or spreadbet as MUCH safer than trading stock, all the best at this tragic time

[ilostthelot] 20/3/2020 23:31

Just catching up yes Deka I still hold a few. I'll ride it out now. Bottom drawer.

[tightfist] 20/3/2020 09:00

Good to see them out getting MML’s name out there!

[stevea171] 20/3/2020 08:24

Explainer: How does gold hedging impact shareholder returns?

“Essentially, [hedging] was set up as a risk management system to guarantee revenue for a company during tough times or when there’s a risk,” David McGowan, head of small cap gold producer Medusa Mining (ASX:MML), told Stockhead.

Medusa Mining, which has a sub-$100m market cap, is one of the few juniors that isn’t hedged.

“There’s a lot of things not going quite right or to plan at the moment in the world, so the gold price has gone up significantly,” McGowan said.

“It means our revenue goes up as well, essentially being unhedged.

“Given that we produce at [costs of] somewhere between $1025 and $1125, that’s a nice little margin on top that we didn’t plan for, but we’ll take.”

There are other unhedged juniors, but not many.

[tightfist] 18/3/2020 08:04

IMO they look to have turned in the short-term but who is to say whether they can sustain these levels or whether it’s another false dawn, soon to become a false bottom and a higher-low?
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It’s interesting to see the daily changes in direction of PoG versus the large ETF’s versus Small Miners. And whether news will make any impact in this environment by the end of the trading day? tightfist

[deka1] 18/3/2020 06:54

Market Summary > Medusa Mining Limited
ASX: MML
0.48 AUD +0.030 (6.74%)

18 Mar, 15:59 GMT+11

are the golds on the turn ?

[stevea171] 14/3/2020 15:54

From a US researcher: "A government official told me that they thought the entire country would be under shut down for a week confinement period and that we might only be one to two weeks away from this happening."

I imagine something similar could happen here with 200 new cases yesterday. The exponential curve is now steepening. Cases expected to double every 2.6 days. By next w/e we could have many thousands of cases tested and a hundred thousand with the virus untested. A medical professor at a US University estimates there could be beween 25 and 50 times the number with the coronavirus walking about in the community compared to the official number testing positive.

It was thought that as with the flu it is likely to be a seasonal thing with die off in the summer. Well, in Australia it is summer time now. In just one day from Thursday to yesterday the number of cases went up by 41% from 140 to 200. That could be an early indication of what to expect here later when we get to May or June.

[stevea171] 14/3/2020 15:47

This spyware is clever stuff!!

My top holdings are: Petropavlovsk (POG) just promoted to the Ftse250 and AAZ. Also have ALTN which should move much higher by the end of April with results.

[tightfist] 14/3/2020 15:31

Hi Steve, I hadn’t yet spotted your spycam looking over my shoulder, surveying my portfolio - holding numbers one and two easily identified!😀 tightfist

[stevea171] 14/3/2020 09:08

Well done Tightfist. You will get your money back plus some at Altyn or Serabi.

You would think the money bags directors, Teo and Co, would step in here and support the share price by buying millions of cheap shares.
But will they?
Of course not!
They may be stupid
but not that stupid .....

[tightfist] 14/3/2020 08:50

Hi Steve, agreed, I take all your points and particularly unswervingly thumbing their noses at the those who actually own the company - the shareholders.....
.
But, hands up, in view of their continuing apparent distain for shareholders even I have been reducing my holding over the last two months - to redeploy capital elsewhere in the gold miner space.
.
Cheers, tightfist