MDN Inc. Reports Tulawaka Q3 2012 Results; Stocks Hit Year Lows Today
MDN Inc. (MDN.TO) today reported third quarter 2012 operational results from the Tulawaka gold mine in Tanzania, in which it has a 30% participating interest.
At Tulawaka, there was an increased focus on underground development work aimed at extending the mine life. As a result, there was a 30% decline in ore tonnes mined compared to third quarter 2011. Together, with the lack of surface stockpiles, this led to continued batch processing of the underground material blended with mineralised waste.
MDN fell 3% to 15 cents, hitting year lows. Over 35,000 MDN shares have changed hands.
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