medusa in fy2011, page-20

Bobwins1,

Good to see you on Hot Copper!

You are unlikely to get big increases in reserves at Co-O because of the nature of the vein system. Management intend to just replace depletion year-on-year from underground development as surface drilling is an expensive waste of shareholders funds when they have complete confidence in the continuity of the veins at depth.

Different matter at Bananghilig of course. That is a much more common disseminated ore body accessible by open pit from surface and looking to be very prospective indeed. There are also the other gold & copper concessions surrounding Co-O which may well provide good news on the resources front in the months ahead. A US$21m FY11 exploration programme would appear very likely to produce results!

Just as an aside: we have a well attended bulletin board on ADVFN in the UK:
www.advfn.com/cmn/fbb/thread.php3?id=19067100
and we would welcome you there. It is free to register for the BBs so don't be a stranger :-)

All the best
CPDLC