At an estimated p/e of 2.8 [see CPLDC's post above] Medusa is...

At an estimated p/e of 2.8 [see CPLDC's post above] Medusa is grossly undervalued in my view!

The company has just issued an excellent Quarterly Statement. From that one can see that:
a] the recent improvements to the Co-O mines infrastructure were successfully completed
b] that the production guidance for the coming year will be 95-100 ozs
c] that the AISC costs for the quarter were $989/oz

To quote from the report:
"The Company produced a record 26,859 ounces of gold for the quarter, at an average head grade of 5.56 g/t gold and cash costs of US$380 per ounce, inclusive of royalties and local business taxes.
All In Sustaining Costs ("AISC") for the quarter was US$989 per ounce of gold and includes discretionary exploration expenditure of US$2.9 million. (September 2014 Quarter: AISC of US$1,238 per ounce, including discretionary exploration expenditure of US$2.7 million)"


In addition, the report stated that the average price received for the gold sold in the last quarter was $1204. This price is well below the current level of $1260/$1270/oz and Medusa will have already enjoyed an improved cash flow from the gold produced and sold since the start of 2015.

If the company was still quoted on the London market, I am sure that the share price would have reacted more positively to these excellent figures!

I was a London shareholder and was forced to sell Medusa shares when the company de-listed from the UK exchange,