Medusa hopes review will deliver more gold
PERTH (miningweekly.com) – Gold junior Medusa Mining is hoping a review of its Co-O mine, in the Philippines, will increase its production outlook for 2014/15.
Based on the current production statistics for July and August, gold production would exceed 20 000 oz in the September quarter, the miner said on Wednesday.
At this production level, Medusa expected to start adding to its cash balance.
Meanwhile, the miner reported on Wednesday that since the commissioning of its new mill in the first quarter of 2014, the company had dealt with a number of teething issues, apart from the power cell failure.
Medusa noted that the vibratory feeder to the primary crusher was found to be unsuitable, and was taken off-line in December, with all subsequent mill feed loaded through an emergency feed station, which resulted in uncrushed run-of-mine rock being fed directly into the semi-autogenous grinding mill.
The vibratory feeder was replaced in July this year, and was now operating to design.
Furthermore, the construction of two new pre-leach tanks was under way in the leaching circuit, and would be completed later this year, while issues with various screens were also being resolved.
Mill recoveries were currently running at a minimum of 90%, Medusa said, and this would be optimised further once more technical improvements were completed.
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