Perhaps it has been about building a business first on a solid...

Perhaps it has been about building a business first on a solid foundation - with the shareholders to be rewarded during the boom times where Medusa is not burdened by borrowing debt (interest and capital repayments). Medusa has self funded its development and is carrying very little debt (this fact is often ignored). It also has extensive spare production capacity.

In my opinion I tend to agree that the amount of exploration activity has been large and impressive. What other posters have failed to mention again is that Medusa is both a gold producer and a gold explorer. The company will give a resource update in April I believe. In times approaching Peak Gold exploration activity is pivotal.

Given January is almost complete we are already 1/3 of the way through the March Quarter. The production forecast for the full year hasn't changed irrespective of the lower production figures for the December Quarter (which included the Christmas / New Year Period of down time). It is my understanding that the production will level out over the full financial year. DYOR