Medusa Mining Limited Update on Bananghilig Scoping Study (1116C)
11 April 2013 - 6:30PM
UK Regulatory
TIDMMML
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: admin@medusamining.com.au
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 +44 (0)20 3463
& Broker) 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
END
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