COMO, WESTERN AUSTRALIA — (Marketwired) — 09/04/13 — Medusa Mining Limited (ASX: MML)(LSE: MML) („Medusa“ or the „Company“), through its Philippine operating company, Philsaga Mining Corporation, wishes to announce the following updates:
New Mill Circuit
The upgraded new milling circuit has been commissioned but, during load commissioning, a compartment of the SAG mill power pack failed. The controller to the power pack has also been deemed faulty and needs to be sent off site for repairs. This is a Vendor supplied, installed and commissioned package and the Vendor has recommended that the whole power pack and controller be returned to their workshops for repair. A complete new power pack unit will be supplied within the next 45 days, therefore, the mill will not be operating until the Vendor has installed and commissioned the new controller and power pack unit.
Production for the September Quarter will be marginally affected by the delay in the commissioning of the new mill but the guidance for the December Quarter will remain unchanged.
Level 8 Development
Since the announcement of 30 June 2013, development on Level 8 has started to achieve improving results, including:
DISCLAIMER
This announcement contains certain forward-looking statements. The words -anticipate-, -believe-, -expect-, -project-, -forecast-, -estimate-, -likely-, -intend-, -should-, -could-, -may-, -target-, -plan- and other similar expressions are intended to identify forward-looking statements. Indications of, and guidance on, future earnings and financial position and performance are also forward-looking statements. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of Medusa, and its officers, employees, agents and associates, that may cause actual results to differ materially from those expressed or implied in such statements. Actual results, performance or outcomes may differ materially from any projections and forward-looking statements and the assumptions on which those assumptions are based. You should not place undue reliance on forward-looking statements and neither Medusa nor any of its directors, employees, servants or agents assume any obligation to update such information.
ABN: 60 099 377 849
Contacts: Australia Medusa Mining Limited Peter Hepburn-Brown, Managing Director +61 8 9367 0601
United Kingdom SP Angel Corporate Finance LLP (Financial Adviser & Broker) Ewan Leggat/Laura Littley +44 (0)20 3463 2260
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