Medusa Mining Limited present its interim financial results for the six months to 31 December 2010, highlighted by a record half-yearly Net Profit After Tax (“NPAT”) of US$58.1 million, up 105%.

• Earnings before interest, tax, depreciation and amortisation (“EBITDA”) of US$63.3 million, up 101% from US$31.5 million in the prior corresponding period;
• Earnings per share (“EPS”) of US$0.310 on a weighted average basis, based on NPAT of US$58.1 million (six months to December 2009: EPS of US$0.168 based on NPAT of US$28.3 million);
• Revenues increased 90% to a record US$78.3 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$1,291 per ounce from the sale of 48,883 ounces of gold for the half-year to December 2010 (corresponding period to December 2009: 39,162 ounces at US$1,047 per ounce);
• The Company remains debt free and had total cash and cash equivalent in gold on metal account of US$87.2 million at 31 December 2010 (corresponding period to 31 December 2009: US$35.5 million).

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