12:25 PM EST - Medusa Mining Limited : announced its Quarterly Activities Report for the period ending 31 December 2009. The company reported gold production of 21,108 ozs for December quarter, up from 12,158 ounces in the prior year quarter, at an average grade of 18.68 g/t gold and cash costs of $184 U.S. per ounce. Medusa received an average gold price of $1,111 U.S. per ounce from the sale of 21,108 ounces of gold for the quarter. The company's exploration budget for the full year is increased to $18 million U.S. Mine expansion to raise production to100 thousand ozs per annum in early 2010 is completed. Medusa Mining Limited
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