first_img whatsapp KCS-content MINE operator Medusa Mining has reported a record first-half net profit of $65.8m (£42.9m).The figure, for the year to 30 June, is up 131 per cent, boosted by increased gold production and higher prices. Revenue was also up 121 per cent to £94.6m, the company said.Medusa, which said it remained debt-free, received an average gold price of $1,100 per ounce from the sale of 64,020 ounces.It had total cash and bullion of $55.8m at the end of the year, up from $26.5m.Medusa, which is Philippines-based, produced a record 89,679 ounces of gold from its Co-O mine. Its budget for the new fiscal year was for 100,000 ounces at cash costs of around $190 per ounce.Managing director Geoff Davis said: “The company is in the fortunate position of being a low-cost gold producer in an economic climate where gold is trading near record highs.” Show Comments ▼ whatsapp Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof Medusa Mining reports a record first-half profit Tags: NULL Share Tuesday 31 August 2010 8:00 pmlast_img