Medusa Mining Limited: SAG Mill Update

Medusa Mining Limited: SAG Mill Update 
COMO, WESTERN AUSTRALIA -- (Marketwired) -- 10/23/13 -- Medusa Mining
Limited (ASX:MML)(LSE:MML)("Medusa" or the "Company"), through its
Philippine operating company Philsaga Mining Corporation, wishes to
announce the following: 
As advised on the 4th September 2013, the Powercells that were used
to start the SAG Mill motor failed after commissioning. The Vendor
recommended that the Powercells be returned to China for repair and
that a new set of Powercells be ordered at the same time as insurance
The timetable given to repair the Powercells was approximately 15
days and to manufacture new Powercells was 45 days. The Company has
just received advice from the Vendor that the repaired Powercells
would be ready to ship back to the mine site on the 4th November 2013
and the new Powercells would be ready to ship to the mine site on the
30th November 2013. 
The repaired Powercells need to clear customs, be transported to
site, installed and tested. This is estimated to take two to three
As a consequence of this delay from the Vendor, the production for
the December quarter will be reduced, however it is difficult to
quantify this until the SAG mill is operating. 
As both mills can be operated at the same time, and to maximise
production during the SAG mill commissioning period, the current mill
will continue operating until the new mill is running at 2,500 tonnes
per day. 
ABN: 60 099 377 849
Medusa Mining Limited
Peter Hepburn-Brown, Managing Director
+61 8 9367 0601 
United Kingdom
SP Angel Corporate Finance LLP (Financial Adviser & Broker)
Ewan Leggat/Laura Littley
+44 (0)20 3463 2260
Press spacebar to pause and continue. Press esc to stop.