Topic: How To Invest

Could you comment on Medusa Mining? Thanks.

Article Excerpt

Medusa Mining, $2.85, symbol MLL on Toronto (Shares outstanding: 170.4 million; Market cap: $485.6 million), owns and operates the Co-O gold mine in the Philippines. Aside from trading on Toronto, Medusa has been listed on the Australian Stock Exchange since 2003. The Co-O mine produces around 65,000 ounces of gold per year. Medusa is expanding Co-O, and aims to raise its output to 100,000 ounces per year later this year. Medusa Mining faces political risk in the Philippines, especially in Mindanao, where its mine is located, and where Muslim rebels continue to battle the government for independence. The stock is okay to hold, but only for highly aggressive investors. …