Companies: MML   

Philippines-focused Medusa Mining will start drilling at its Lingig copper discovery in the first quarter of next year.

The Western Australia-based company says the first drill hole it puts down will repeat and drill past the bottom of a hole drilled in 1974 by Filipino and Japanese technologists under an aid programme for the country's East Mindanao. According to Medusa, this 150-metre intersection ended in 'high-grade mineralisation', with the last two metres containing 4.93 per cent copper, 0.4 grammes of gold and ten grammes of silver per tonne of ore.

Highlighted by Growth Company Investor before last year's AIM float placing at 27p, and again at 56.5p in September, Medusa shares now trade at 67p, valuing the company at £52.2 million. Hold on.

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Medusa Mining	AIM	£44.26m	30.25p	3.25p
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Other company articles:
Medusa claims more gold			14/08/2008
Exploration Insights by Robert Tyerman			02/06/2008
Medusa finds high grades			07/05/2008
Medusa prepares to drill			13/11/2007
Resource boost at Medusa			04/09/2007