PERTH (miningweekly.com) – Higher grades at the Co-O gold mine, in the Philippines, have seen ASX-listed Medusa reporting higher production in the three months to March, compared with the previous quarter.
Medusa on Monday reported that production during the three months to March reached 29 858 oz, compared with the 23 120 oz produced in the December quarter.
The higher head grade also resulted in cash costs for the quarter declining from $567/oz to $510/oz, while the all-in sustaining costs declined from $1 156/oz to $939/oz.
At the end of the quarter, Medusa had some $19.7-million in cash and cash equivalent gold on account, after taxes and working capital movements.