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The Nut Shell

Medusa Mining (OTC:MDSMF) is one of the lowest cost gold producers operating the underground Co-O mine in the Philippines. The company's share price has been lagging its peers as shown in the chart below despite the favourable economics of its asset. We believe that the reasons for this lag are twofold:

  1. the ongoing mine expansion has been hampered and delayed by various obstacles;
  2. mining legislation in the Philippines is in limbo and investors finding it hard to gauge the country risk exposure in the current state of uncertainty.

In the present article we will concentrate on these two points before summarizing the favourable metrics of Medusa's assets. The combination of these data points will lead...

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