Medusa Share Discussion Threads

[deka1] 31/7/2020 07:17

GOLD heading for 2000 very soon----- MEDUSA WILL BE MAKING 900 / OZ PROFIT YEEEEEEHAAA

[deka1] 31/7/2020 06:19

Andy ONLY opinions , thats all ,i dont agree with his advice of total avoidance of MML
You may agree with him thats your choice , i don't.

[andy] 30/7/2020 09:08

deka130 Jul '20 - 06:43 - 38263 of 38264 0 0 0

That guy sounds like a very disgruntled former holder of medusa LOL

-------

If you check him out, "that guy" reviews many mining stories, and declares at the bottom of the page, so to dismiss him as a "disgruntled former holder" whilst typical of the sort of derision you expect on ADVFN when someone posts less than uber bullish, is certainly wrong in this case.

[tightfist] 30/7/2020 07:52

Thanks deka; the Seeking Alpha chap makes some good points re.AISC and Jurisdiction, but the observations about guidance seem churlish (even misleading, especially in a COVID world) and we all know that line-of-sight to extensive reserves in narrow vein mining is challenging/expensive.
.
At least we are finally starting to generate some forward momentum?! tightfist

[deka1] 30/7/2020 06:43

That guy sounds like a very disgruntled former holder of medusa LOL,
the industry average AISC for gold miners is just over $1000/oz,so medusa are getting close to ind average , aisc

[c9ajl] 29/7/2020 17:11

Medusa Mining: Digging Into The Q4 Results | Seeking Alphahttps://seekingalpha.com/article/4361744-medusa-mining-digging-q4-results

[glavey] 29/7/2020 14:33

Let's hope not. On previous occasions diversions have just wasted money.

[deka1] 29/7/2020 06:44

Cheers Steve, a new project in the offing perhaps .

[stevea171] 28/7/2020 12:48

July 27, 2020

Special Report: In June, veteran business leader Andrew Teo joined the Myanmar Metals (ASX:MYL) board. What does Teo – who helped build private WA company BGC into Australia’s largest home builder – see in this near term mine development story?

From modest beginnings as a property developer in the 1960’s, BGC became Australia’s largest privately-owned companies by turnover.

For 35 years Teo sat at the right hand of late owner Len Buckeridge, running the accounting function, the treasury, the legal – you name it.

“We were very slim up top at BGC; it was a very hands-on style of management,” Teo told Stockhead.

“I was very much involved in growing that business.

“BGC was a very large organisation, and very large in terms of turnover – close to $3 billion. At one stage we had about 7500 direct and indirect employees and contractors.

“I take great pride in that journey.”

In 2010, Teo joined the board of profitable 100,000oz per annum gold producer Medusa Mining (ASX:MML), and in 2013, became chairman.

“We have a gold mine plus a few tenements in the Philippines, and as part of my role as chairman of Medusa I am always searching for other Asian assets,” Teo says.

Myanmar was one place Medusa had a look; it is a country with a lot of mineral potential, Teo says.

[deka1] 28/7/2020 07:16

ANNOUNCEMENT
31st January 2020
ESTABLISHMENT OF DECLINE TO PROVIDE LONG-TERM
INFRASTRUCTURE SOLUTION AT THE Co-O MINE
(ASX: MML)
 Comprehensive study completed on future infrastructure options at
the Co-O Mine to access the orebody below the limitations of
existing shaft infrastructure;
 Study concludes that the establishment of a decline is the best
option to access ore below Level 12, extend the life of mine and
enhance operational and exploration flexibility at the Co-O Mine;
 Current Ore Reserve of 350,000 ounces extends to Level 12 with
high-grade mineralisation intersected in drilling below Level 16 and
remaining open at depth, constrained only by the limits of drilling;
 Decline construction expected to take 36 months with gold
production to continue at previously planned levels throughout the
construction period;
 Estimated capital cost of US$48 million, the majority of which could
be funded from existing cash reserves of US$25 million and future
operational cash flow;
 Final stages of planning and engagement with underground mining
contractors in progress with the project expected to commence in
the current H1 2020.

[stevea171] 27/7/2020 17:49

PF. The cost of the decline is approx $60 million incl equipment over 3 years.
Main construction has not yet started. Yet they have $47 million cash at 30/6 and their cash will likely exceed the full cost in the next 3 months at the present rate of accumulation.
But still no dividend.

It's no wonder Teo can't find a CEO replacement.
Who would want to be a sock puppet for him and a company with no vision?
In Western Australia and the gold mining world MML's reputation as a go ahead gold miner must be rock bottom!

[deka1] 27/7/2020 10:37

Quarterly Activities Report for the
Period Ended 31 June 2020

Production: 21,947 ounces at average head grade of 6.59 g/t gold (Mar 2020 Qtr: 24,802 ounces at 6.25 g/t gold).
Cash Costs: US$692 per ounce (Mar 2020 Qtr: US$657 per ounce).
All-In-Sustaining-Costs (“AISC”): US$1,116 per ounce (Mar 2020 Qtr: US$1,118 per ounce).
Mill performance: Gold recovery averaged 95.8% (Mar 2020 Qtr: 95.2%).
Mine development: Total advance of 8,087 metres of horizontal and vertical development (Mar 2020 Qtr: 8,420 metres).
FY2020 production guidance achieved: 95,057 ounces of gold produced in FY2020 was within guidance and AISC of US$1,132 per ounce was marginally above the top end of guidance.
COVID-19: Measures taken to reduce the health risk to our people while at work and no COVID-19 cases recorded at site. A general community quarantine directive remains in place at end of quarter.

[pigeonfeeder] 27/7/2020 09:05

I am no longer a shareholder, but to me it doesn't make sense to pay a dividend until the decline has been paid for.

When the decline build was announced, management mentioned that they had arranged a financing facility with banks should it be required. With the current PoG I assume it won't be required, but why pay a dividend until you know you have enough cash to pay for the decline?

[speedsgh] 27/7/2020 08:34

Unfortunately I suspect the directors are too pre-occupied wondering how they can keep the gravy train going to give a thought to the wishes of the company's shareholders.

[tightfist] 27/7/2020 08:23

Now 39% of Market Cap is in cash - amazing! Just dream where we could get to with decent and stable management...... and a distribution policy that respects shareholders.....

[c9ajl] 27/7/2020 08:03

Quarterly Reporthttps://www.medusamining.com.au/wp-content/uploads/2020/07/200727_june2020quarterlyreport.pdf

[stonedyou] 18/7/2020 22:36

risa5
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[stonedyou] 18/7/2020 22:36

risa5
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[stonedyou] 18/7/2020 19:23

risa5
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[stonedyou] 18/7/2020 19:23

risa5
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[stonedyou] 18/7/2020 19:23

risa5
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[stonedyou] 18/7/2020 19:23

risa5
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