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PRECIOUS METALS

Medusa looks at 130,000oz in 2016

PHILIPPINES-focused Medusa Mining has reported a loss of $US218.1 million for financial year 2015, largely because of writedowns on development expenditure and an impairment on plant and equipment.

Barry Avery
Inspection of core from exploration by Medusa on Mindanao Island in the Philippines.

Inspection of core from exploration by Medusa on Mindanao Island in the Philippines.

The total writedown, of $259.6 million, came from the combination of $187.3 million (development), $68.1 million (plant) and $4.13 million (mineral properties). Revenue, however, rose 46% to $123 million...

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