Medusa Mining Limited present its full year financial results for the year ended 30 June 2010, highlighted by a record net profit after tax* (“NPAT”) of US$65.8 million, up 131% (adjusted underlying NPAT was a record US$71.7 million, up 152%).

• Earnings before interest, tax, depreciation and amortisation (“EBITDA”) of US$73.7 million, up 142% (adjusted underlying EBITDA of US$79.6 million, up162%);
• Earnings per share (“EPS”), of US$0.378 on a weighted average basis, based on NPAT of US$65.8 million, up 102% (adjusted underlying EPS of US$0.412, up 120%);
• Revenues increased 121% to a record US$94.6 million, due to increased gold production and a higher price received on sale of gold. Medusa is an un-hedged gold producer and received an average gold price of US$1,100 per ounce from the sale of 64,020 ounces of gold for the year (adjusted underlying revenues totalled US$102.2 million, up 139%);
• The Company remains debt free and had total cash and bullion of US$55.8 million at year end (2009: US$26.5 million). The adjusted underlying cash and bullion figure was US$63.4 million.

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