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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Medusa Mining | LSE:MML | London | Ordinary Share | AU000000MML0 | ORD NPV (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 97.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Joint Venture with Bunwan Mining 11 April 2008 MEDUSA MINING LIMITED (AIM: MML) JOINT VENTURE WITH BUNAWAN MINING CORPORATION Medusa Mining Limited ("Medusa" or the "Company"), the Australian based company operating and developing gold mines in the Philippines, wishes to clarify its position with respect to the ASX announcement by Sierra Mining Corporation ("Sierra") on 8 April 2008 that Sierra will not be proceeding with the Joint Venture Agreement ("JVA") between the respective Filipino operating companies, Philsaga Mining Corporation ("Philsaga") for Medusa and Bunawan Mining Corporation ("Bunawan") for Sierra. Medusa and Philsaga reject any assertion by Sierra and Bunawan that the JVA has come to an end because of the non-fulfilment of any conditions precedent to the operation of the JVA. The JVA is a binding document that has been relevantly registered in the Philippines, remains in force and under which Philsaga is continuing to fulfil its obligations including clearing up access issues which will enable Philsaga to have unfettered access to all of the tenement area. However, in light of the position of Sierra to not proceed with the placement of 9.9% of Sierra shares to Medusa under the August 2007 Heads of Agreement (between Medusa and Sierra), Medusa agrees not to take up the placement. For further information, please contact: Medusa Mining Limited +61 8 9367 0601 Geoffrey Davis, Managing Director Roy Daniel, Finance Director Fairfax I.S. PLC +44 (0)20 7598 5368 Nominated Adviser / Joint Broker Ewan Leggat Mirabaud Securities Limited +44 (0)20 7321 2508 Joint Broker Peter Krens Bankside Consultants +44 (0)20 7367 8888 Michael Padley / Louise Davis - ---END OF MESSAGE---
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