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BRIEF-Medusa Mining reduces production guidance for FY17

Published 05/05/2017, 06:21 pm
Updated 05/05/2017, 06:30 pm
BRIEF-Medusa Mining reduces production guidance for FY17
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May 5 (Reuters) - Medusa Mining Ltd MML.AX

* Revised production guidance for FY16-17

* Medusa has decided to reduce production guidance for FY17

* Production guidance for FY17 has been revised to between 77,000 to 80,000 ounces of gold

* June 2017 quarter production guidance is now between 20,000 to 23,000 ounces of gold

* During remainder of FY17, a lower rate of VHG mining is now anticipated

* Decided to reduce production guidance for FY17, due to an unexpected reduced rate of mining of very high grade gold stopes on levels 8 and 9 of CO-O mine

* Comparatively lower grade stope blocks in upper levels are now anticipated to be mined for remainder of the financial year Source text for Eikon: ID:nASX3cQ8D Further company coverage: MML.AX

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