Medusa Mining makes amendments to Bananghilig scoping study

Medusa Mining has announced a number of amendments and clarifications to certain parameters of the scoping study on the Bananghilig Gold Deposit.

It said the indicative cash costs will be $565 per ounce, excluding royalties, rather than including, as previously announced on April 9th.

The indicative mining OPEX will now be $10.50 per tonne, having been $15.50 previously.

It also confirmed that the cost of pre-strip is included in the CAPEX costs of $220m.

In addition, the waste to ore strip ratio has been amended to 4:1 (after pre-strip) from 5:1 previously.

Furthermore, having initially given an indicative diluted head grade of 1.3g per tonne gold, it has now said this is the figure for the indicative recovered head grade.

The share price declined 3.97% to 290p by 13:50.

NR