MML are an existing gold producer on the island of Mindanao, and are looking to expand production towards 100,000 ozs Pa during 2007.

Mining costs are low, around $250 per oz, and with gold around the $650 level, there is a healthy margin.

MML have returned good grades in recent exploration, and have an exploratory copper project within their licence area.


recent analysis - Click HERE


MML look undervalued compared to their peers, IMO.

Another yummy rise.....

The finance boss of Philippines-focused gold miner Medusa Mining has spent 65,000 topping up his holding in the company.

Roy Daniel took 25,000 shares at A$4.44 (263p) a time and now has about 1.4m, which represents nearly 1% of the company.

Shares in Medusa Mining have been performing well recently, helped by the strong gold price.

In July the company celebrated an uplift in the resource estimate at its Co-O mine in the Philippines.

Super-dooper increases here.....one to pile into...

A propectors dream,with a bag of gold at the end.

Pushing ever higher...the more gold increases, the more producers selling at spot will increase in value !.

AGM held in perth,gold at $1345,MML flying up over 10% at one stage.
cyril

Maiden dividend to be paid 8/11/2010. Ex/div 11/10/2010. Market cap now over 1 billion. Super rise today.

Up near 7% overnight on volume of 1.4m,hoping for a similar rise on the LSE?

As good as gold.

Vanguard increases holdings by an impressive 1.2%,7.19 to 8.39%.

http://www.asx.com.au/asxpdf/20110328/pdf/41xp95hs4zjwsj.pdf

http://www.investegate.co.uk/Article.aspx?id=201104050710002765E

With gold at these high prices, and new discoveries from medusa, the share price can only go one way. It was also nice to collect a cash dividend a couple of weeks ago.

New high.

Gold at new high and MML as near as dam it,up 2%.nice article.

http://www.proactiveinvestors.co.uk/companies/news/27653/medusa-shares-pause-for-breath-brokers-point-to-a-golden-future-27653.html

10th May 2011

TAMBIS MAPPING HIGHLIGHTS REGIONAL POTENTIAL

Medusa Mining Limited (ASX and AIM - MML; TSX - MLL) ("Medusa" or the "Company"), through its Philippines operating company Philsaga Mining Corporation ("Philsaga"), advises that regional and detailed mapping which commenced in October 2010 has highlighted excellent potential for additional discoveries of breccia-hosted, epithermal veins and quartz stockwork gold mineralisation within a large intrusive-breccia complex mapped over an area measuring approximately 7 kilometres in length and 3 kilometres in width along a well defined northeasterly trending structural and alteration corridor.

New outcrops of porphyry and related styles of copper mineralisation have also been located at the Sawahon Creek prospect, at the lower Bananghilig River prospect, and southwest of the Bananghilig Gold Deposit in the extensive skarn area which is associated with the fertile copper-bearing Supon diorite and the adjacent Kamarangan porphyry copper-molybdenum prospect.

Drilling is continuing with six drilling rigs at the Bananghilig Deposit with the Company aiming to provide a drilling update during the September 2011 quarter.

Geoff Davis, Managing Director of Medusa, commented:

"This on-going mapping has significantly enhanced the regional potential of the Tambis District. The outlining of a large intrusive-breccia complex with extensive alteration zones and containing the known diatreme breccia-hosted Bananghilig Deposit, milled breccia hosted mineralisation at Canugas as well as numerous mineralised epithermal veins and quartz stockworks, and the outcropping Sawahon Creek porphyry copper prospect and other copper prospects, all auger well for defining new deposits.

"We see strong similarities with the Wafi Golpu Project in PNG with respect to the regional setting, rock types, mineralisation styles and potential. A comparative interpreted cross-section to the Figure 4 contained in this report is shown on page 10 of the presentation of the Harmony- Morobe Mining Joint Venture Analyst Tour dated March 2011.

"In addition there are many similarities to the richly mineralised Baguio District north of Manila which has produced approximately 28 million ounces of gold and 2.8 million tonnes of copper."

MML flying on the strength of latest update.

http://www.advfn.com/p.php?pid=nmona&article=48334001

Very positive. Looking for a new high above 5.50.

4.80. and climbing. Gold at new record high.Quartly report due shortly.Date to remember, ex. div.about 10/10 11.Payment about10/11/11,to be confirmed.

Recent imitial substancial holder.

http://www.asx.com.au/asxpdf/20110815/pdf/420d407lrrgvyx.pdf

Medusa Mining Limited

24 August 2011

MEDUSA MINING LIMITED

(ASX & LSE: MML)

Co-O MINE CONCEPTUAL EXPLORATION TARGET ENHANCED BY DRILLING

24 August 2011

Medusa Mining Limited ("Medusa" or the "Company"), through its Philippines operating company, Philsaga Mining Corporation, advises that the release of the new resource model for the Co-O Mine and on-going exploration drilling results have significantly increased the support for the Conceptual Exploration Target ** for the Co-O Mine of:

3,000,000 ounces in 9,800,000 tonnes to 7,000,000 ounces in 23,500,000 tonnes using a grade range of 9 to 11 g/t gold with a preferred average grade of 10 g/t gold.

The combination of past production of approximately 450,000 ounces and the current global resource of 1,960,000 ounces indicates the deposit size is approaching the lower end of the Conceptual Exploration Target size range.

Detailed mapping and data compilation of the Co-O Mine vein system has been completed. It is a well preserved, intermediate sulphidation epithermal vein system with a large near surface, mushroom-shaped argillic alteration zone measuring over 1,500 by 1,500 metres in area and which grades into propylitic alteration to the east and at depth. The alteration and mineralisation trends indicate that the source of mineralising fluids is likely to be from beyond the current eastern end of the vein system.

Geoff Davis, Chairman of Medusa, commented:

"The Co-O Mine continues to expand, the more we drill the more we find, and we still cannot see an end to this extensive epithermal vein system. It is currently approximately 1.6 kilometres long and open to the east, and around 750 metres wide across the strike of the veins and still open both north and south, and as shown by drilling, it is also open at depth.

The size of the alteration envelope suggests there is the possibility of more vein systems contributing to this very large argillic alteration zone.

Drilling will continue with the six surface rigs and five underground rigs for the foreseeable future."

** The potential target size and grade is conceptual in nature, and there has been insufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in the target being defined as a mineral resource.

CONCEPTUAL EXPLORATION TARGET SIZE

Discussion

Drilling since the previous estimate of the Conceptual Exploration Target announced on 18 January 2010 has continued to expand the vein system, as supported not only by the new global resource estimate of 1,960,000 ounces, but also by drill hole intersections in a significant number of veins to the north and east of the of the previous resource model.

The range for the Conceptual Exploration Target remains well supported at 3,000,000 ounces in 9,800,000 tonnes to 7,000,000 ounces in 23,500,000 tonnes using a grade range of 9 to 11 g/t gold with a preferred average grade of 10 g/t gold:

The additional support for this target is listed below:

- The total ounces already accounted by the current global resource and past production is approximately 2,310,000 ounces.

- An increase of 100 metres of strike length from 1,500 metres to 1,600 metres as supported by drilling as described in the announcement dated 6 July 2011.

- A change in the Specific Gravity ("SG") to the SG currently used of 2.62 for the resource estimates (previously 2.45 previously) resulting in a 7% increase in tonnes as reported in the announcement dated 22 July 2010.

- As shown on the composite longitudinal projection in Figure 2 (please see link below for Figure 2), all new drill holes since 30 June 2011 in the deposit with assays of >= 0.2 metres at >= 3 g/t gold up to 30 June 2011 are incorporated and support the mineralisation continuing to depth. The assays support levels between 500 metres and 750 metres below surface is a function of the amount of drilling completed to date.

Figure 1 (please see link below for Figure 1) shows the veins at Level 6 used in the new resource estimate published on 27 July 2011.

Figure 2 (please see link below for Figure 2) shows the projection of all drill intersections below Level 6. The new drill results from 01 July 2010 to 30 June 2011 enhance the support for mineralisation to continue to depth and to the east.

Table I. Co-O Mine Conceptual Exploration Target matrix **


Strike Depth below Aggregate Gold Conceptual
length Level I vein width Conceptual grade contained
(metres) (metres) (metres) tonnes (g/t) ounces
1,500 500 5 9,825,000 10 3,159,000
8 15,720,000 10 5,054,000
10 19,650,000 10 6,318,000
750 5 14,737,000 10 4,738,000
8 23,580,000 10 7,581,000
10 29,475,000 10 9,477,000
1000 5 19,650,000 10 6,318,000
8 31,440,000 10 10,109,000
10 39,300,000 10 12,636,000
2,000 500 5 13,100,000 10 4,212,000
8 20,960,000 10 6,739,000
10 26,200,000 10 8,424,000
750 5 19,650,000 10 6,318,000
8 31,440,000 10 10,109,000
10 39,300,000 10 12,636,000
1,000 5 26,200,000 10 8,424,000
8 41,920,000 10 13,479,000
10 52,400,000 10 16,848,000

Notes:

(i) Approximately 450,000 ounces already mined from the deposit;

(ii) SG of 2.62 used for all estimates

(iii) Tonnes and ounces estimates rounded down to nearest 1,000; and

(iv) Highlighted cases indicate most geologically reasonable based on current knowledge

** The potential target size and grade is conceptual in nature, and there has been insufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in the target being defined as a mineral resource.

Co-O MINE GEOLOGY AND ALTERATION

The Co-O epithermal vein system is hosted by Eocene to Oligocene (within the Tertiary era) gently north-dipping, basaltic andesitic lavas to andesitic lavas and volcaniclastics. The sequence is intruded by andesitic to dioritic dykes and stocks and cut by north-trending faults with the Oriental Fault identified as the most significant fault at this stage.

The quartz veins are dominantly westerly trending and sub-vertical, with lesser 30 to 50 dipping. Some of the vein characteristics are:

- the veins are polyphasal exhibiting massive, banded and vein breccia textures and comprise two gold bearing phases, the first being a quartz- chalcedony +/- calcite phase deposited at a temperature of approximately 180 C, and a second phase comprising blocky calcite-quartz +/- barite;

- the high gold grades are associated with crustiform-colloform banding; and

- the sulphides comprise mainly pyrite, <1 to 5%, and minor sphalerite, chalcopyrite, galena.

Early fluid inclusion studies in the upper levels of the mine concluded:

- the temperature of formation was 200 to 250oC and within approximately 500 metres of the surface;

- the salinities of 1 to 13 wt% NaCl equivalent; and

- that the above ranges fall well within the epithermal range of deposition.

Figures 3 and 5 show the surface geology and the geology in cross-section. (Please see link below for Figures 3 and 5)

Figures 4 and 6 show the surface alteration and the alteration in cross-section. (Please see link below for Figure 4 and 6)

Alteration types identified are:

- silicic (quartz +/- illite-calcite) - confined to vein zones and hydrothermal breccias;

- argillic (illite +/- quartz-calcite) - surrounds the veins - millimetres to 100s of metres;

- chloritic (chlorite+/-smectite-calcite) - increases and finally dominates at depth with; and

- propylitic (chlorite-epidote +/- smectite-calcite).

At surface the mapped alteration shows that the:

- veins are within a laterally extensive mushroom-shaped argillic envelope which is

- in excess of 1.5 km x 1.5 km in area, and

- associated with gold vein mineralization;

- outlying chloritic to propylitic zone is overprinted by argillic alteration; and

- propylitic zone is considered to be regional in extent, i.e. pre-mineral.

The alteration patterns at depth are:

- the argillic envelope abruptly tapers down along the veins until only a few metres to millimetres wide;

- the chloritic to propylitic alteration zone increases and finally dominates at depth; and

- there appears to be no identifiable pattern between the chloritic and propylitic zones.

For further information please contact: