News

April 20, 2009

Medusa Mining Is London-Bound To Spread The News About The Co-O Gold Mine In The Philippines

By Our Man in Oz

Expect a few polite utterings of “I told you so” when Medusa Mining’s Australian-based chief executive, Geoff Davis, pays courtesy calls and makes the odd presentation in London over the next few days. Davis himself might be too polite to use those exact words. But his supporters are certainly entitled to, and these include among their number Minesite itself. Last September this website was one of the first to alert readers to the emerging success of Medusa at its Co-O gold mine in the Philippines, and at an even more impressive copper discovery called Lingig. At the time, Medusa was trading at A99 cents and the wheels of the commercial world were about to come flying off courtesy, of the Lehman Brothers collapse and ensuing global financial crisis.

Undeterred by the chaos on world markets, and by a cheeky takeover attempt launched by those masters of the incomplete bid, Crosby Capital, Minesite persevered with its Medusa love affair – despite the prospects of being turned into stone as per Greek legend. In early November, Minesite again sang the praises of Medusa despite a fall in the share price to around A66 cents, with rising gold production starting to catch the attention of a few seasoned professional investors.

Look today, and...