Medusa Mining has started trading its shares on the Frankfurt Stock Exchange in Germany .

The company"s policy has been to diversify its shareholder base and the listing is being undertaken in conjunction with an awareness program of the company"s activities in the Philippines which includes all German newswires and financial websites, national newspapers and investment press, TV and radio as well as Bloomberg and Reuters screens.

Medusa is one of few new gold producers coming on stream and has a particularly robust resource of 240,000 ounces at a grade of 29.7 grams per tonne gold.

This resource is expected to expand significantly as exploration and underground development at a number of mine sites progresses.

On completion of an AIM listing anticipated in the latter part of this year and the completion of the merger with its Filipino partner, Philsaga Mining Corporation, the company will be unhedged and will not have any requirement for debt. Production is planned to increase from the initial rate of approximately 40,000 ounces which will be sourced from a number of operating mines.

The company controls more than 700sqkm of tenements over a 70km strike length of the richly endowed East Mindanao ridge with a centrally located plant capable of processing sufficient ore to increase gold production. Medusa says the exploration potential of the tenements is excellent for long life gold production and the company has a number of porphyry copper-gold targets identified for drilling next year.