News: MML Medusa Mining reduces production guidance for FY17

May 5 (Reuters) - Medusa Mining Ltd (MML)

• Revised production guidance for FY16-17
• Medusa has decided to reduce production guidance for FY17
• Production guidance for FY17 has been revised to between 77,000 to 80,000 ounces of gold
• June 2017 quarter production guidance is now between 20,000 to 23,000 ounces of gold
• During remainder of FY17, a lower rate of VHG mining is now anticipated
• Decided to reduce production guidance for FY17, due to an unexpected reduced rate of mining of very high grade gold stopes on levels 8 and 9 of CO-O mine
• Comparatively lower grade stope blocks in upper levels are now anticipated to be mined for remainder of the financial year