Press Releases

Genmab Reaches Second Milestone in Lundbeck Collaboration Feb 10, 2012 04:42AM

- Second pre-clinical milestone met in Lundbeck collaboration - €1 million milestone payment to Genmab

COPENHAGEN, Denmark, Feb. 10. 2012 (GLOBE NEWSWIRE) -- Genmab A/S (OMX: GEN) announced today it had reached the second pre-clinical milestone in the collaboration with H. Lundbeck A/S, triggering a €1 million payment. Genmab has reached the second milestone in the collaboration with H. Lundbeck A/S to create and develop human antibody therapeutics for disorders of the central nervous system (CNS). The milestone triggers a payment of €1 million to Genmab. Under the collaboration with Lundbeck Genmab creates novel human antibodies to three targets identified by Lundbeck and Lundbeck has access to Genmab's antibody creation and development capabilities, including its state of the art, fully automated pre-clinical antibody screening and characterization capabilities and its proprietary stabilized IgG4 and UniBody therapeutic antibody platforms. Under the terms of the agreement, Genmab received an upfront payment of €7.5 million in October 2010 (approximately DKK 56 million). Lundbeck fully funds the development of the antibodies. If all milestones in the agreement are achieved, the total value of the agreement to Genmab would be approximately €38 million (approximately DKK 283 million), plus single-digit royalties. "We are very pleased to have met the in vitro proof of concept milestone for another target in the Lundbeck collaboration. This partnership is progressing well, with this second milestone coming shortly after we achieved the first preclinical milestone in December last year," said Jan van de Winkel, Ph.D., Chief Executive Officer of Genmab. About Genmab A/S Genmab is a publicly traded, international biotechnology company specializing in the creation and development of differentiated human antibody therapeutics for the treatment of cancer.  Founded in 1999, the company's first marketed antibody, ofatumumab (Arzerra®), was approved to treat chronic lymphocytic leukemia in patients who are refractory to fludarabine and alemtuzumab after less than eight years in development.  Genmab's validated and next generation antibody technologies are expected to provide a steady stream of future product candidates.  Partnering of innovative product candidates and technologies is a key focus of Genmab's strategy and the company has alliances with top tier pharmaceutical and biotechnology companies.  For more information visit www.genmab.com.  Contact: Rachel Curtis Gravesen, Senior Vice President, Investor Relations & Communication T: +45 33 44 77 20; M: +45 25 12 62 60; E: r.gravesen@genmab.com This Company Announcement contains forward looking statements. The words "believe", "expect", "anticipate", "intend" and "plan" and similar expressions identify forward looking statements. Actual results or performance may differ materially from any future results or performance expressed or implied by such statements. The important factors that could cause our actual results or performance to differ materially include, among others, risks associated with pre-clinical and clinical development of products, uncertainties related to the outcome and conduct of clinical trials including unforeseen safety issues, uncertainties related to product manufacturing, the lack of market acceptance of our products, our inability to manage growth, the competitive environment in relation to our business area and markets, our inability to attract and retain suitably qualified personnel, the unenforceability or lack of protection of our patents and proprietary rights, our relationships with affiliated entities, changes and developments in technology which may render our products obsolete, and other factors. For a further discussion of these risks, please refer to the risk management sections in Genmab's most recent financial reports, which are available on www.genmab.com. Genmab does not undertake any obligation to update or revise forward looking statements in this Company Announcement nor to confirm such statements in relation to actual results, unless required by law. Genmab®; the Y-shaped Genmab logo®; HuMax®; HuMax-CD20®; HuMax®-EGFr; HuMax®-IL8; HuMax®-TAC; HuMax®-CD38; HuMax®-TF; HuMax®-Her2; HuMax®-cMet, HuMax®-CD74, DuoBody™ and UniBody® are all trademarks of Genmab A/S. Arzerra® is a trademark of GlaxoSmithKline. Company Announcement no. 02 CVR no. 2102 3884 Genmab A/S Bredgade 34 1260 Copenhagen K Denmark

Attachments:

02 lundbeck second milestone_100212_uk.pdf  

Source: Genmab A/S

ASSA ABLOY: Correction: A strong quarter with record sales and earnings Feb 10, 2012 04:24AM

STOCKHOLM, SWEDEN -- (MARKET WIRE) -- 02/10/12 -- Correction, under the headline FOURTH QUARTER the correct figure is:

"Exchange-rate effects had a negative impact of SEK 38 M on the Group's income before tax."

Fourth quarter

* Sales increased during the quarter by a full 22%, including 4% organic growth, and totaled SEK 11,744 M (9 648).

* Strong growth in Asia, Africa, Global Technologies and Entrance Systems, while the markets in Europe and North America were stable.

* Acquisitions of Albany Door Systems and Securistyle were completed and agreement signed for the acquisition of Dynaco. The combined annualized sales from these companies is SEK 1,850 M representing 5% growth.

* Operating income (EBIT) amounted to SEK 1,881 M[1] (1,606), an increase of 17%. The operating margin was 16.0%[1] (16.6).

* Net income amounted to SEK 118 M[2] (1,071).

* Earnings per share rose by 20% to SEK 3.43[3] (2.86).

* The restructuring program was expensed with SEK 1,420 M.

* Operating cash flow reached a record high SEK 2,794 M (2,085).

Full year

* Sales increased by 13%, including 4% organic growth, and totaled SEK 41,786 M (36,823).

* Operating income (EBIT) amounted to SEK 6,624 M[1] (6,046), representing an increase of 10%. The operating margin was 15.9%[1] (16.4).

* Net income amounted to SEK 3,869 M[2] (4,080).

* Earnings per share rose by 13% to SEK 12.30[3] (10.89).

* Strong operating cash flow amounted to SEK 6,080 M (6,285).

* The Board of Directors proposes a dividend of SEK 4.50 per share (4.00).

[1] Excluding restructuring costs in 2011 amounting to SEK -1,420 M for the quarter and for the year.

[2] If restructuring and one-time items are excluded, net income in 2011 was SEK 1,285 M for the quarter and SEK 4,605 M for the year.

[3] Excluding restructuring and one-time items in 2011 amounting to SEK -1,167 M for the quarter and SEK -736 M for the year.

SALES AND INCOME

                                  Fourth quarter      Full year
                                 ------------------------------------
                                   2010   2011 Change   2010   2011 Change
--------------------------------------------------------------------------
Sales, SEK M                      9,648 11,744   +22% 36,823 41,786   +13%

  of which,

  Organic growth                                  +4%                  +4%

  Acquisitions                                   +20%                 +17%

  Exchange-rate effects            -385   -195    -2% -1,626 -2 309    -8%

Operating income (EBIT), SEK M[1] 1,606  1,881   +17%  6,046  6,624   +10%

Operating margin (EBIT), %[1]      16.6   16.0          16.4   15.9

Income before tax, SEK M[1]       1,405  1,723   +23%  5,366  5,979   +11%

Net income, SEK M[2]              1,071    118      -  4,080  3,869      -

Operating cash flow, SEK M        2,085  2,794   +34%  6,285  6,080    -3%

Earnings per share (EPS), SEK[2]   2.86   3.43   +20%  10.89  12.30   +13%

[1] Excluding restructuring costs in 2011 amounting to SEK -1,420 M for the quarter and for the year.

[2] If restructuring and one-time items are excluded, net income in 2011 was SEK 1,285 M for the quarterand SEK 4,605 M for the year.

COMMENTS BY THE PRESIDENT AND CEO

"It is with great satisfaction that I can report that the fourth quarter set new records in both sales and earnings," says Johan Molin, President and CEO. "Sales increased by a full 22%, while operating income increased by 17%. It was particularly pleasing that the Group's increasing exposure on the emerging markets meant that total organic growth amounted to a good 4% despite a weak demand on the mature markets.

"A number of innovative new products in both the mechanical and electromechanical areas were launched during the year, and the share of sales coming from new products rose to over 20%, almost a doubling compared to earlier figures. In addition, the acquisitions of ActivIdentity and LaserCard during the year mean that the Group now can offer complete systems for advanced public ID solutions. The strategic acquisition of Crawford meant that ASSA ABLOY took a leading position in the growing field of entrance automation.

"Operating income for the full year increased by a good 10%, supported by efficiency improvements and the continuing relocation of production to low- cost countries. Operating cash flow continued strong and exceeded 100% of pre-tax profit.

"Acquisition activity was high throughout the year, and 18 acquisitions with a combined annualized sales of SEK 6,800 M were completed, representing 18% growth. The largest transaction during the year was the acquisition of Cardo and the subsequent divestments of Cardo Flow Solutions and Lorentzen & Wettre. During January the acquisitions of Albany Door Systems in America and Securistyle in Britain were completed. An agreement has also been signed for the acquisition of Dynaco in Belgium. This means that for 2012 the strategic target of 5% annual acquired growth has already been achieved.

"Looking forward into 2012, continued good growth on the emerging markets is expected, but at a lower level than last year. On the mature markets a stable development is expected with an unchanged or slightly positive sales trend. The underlying business cycle continues to be affected by the uncertainty on the financial markets and budget restrictions in many countries, which primarily impacts the market segments that are dependent on public financing."

FOURTH QUARTER

All figures for earnings exclude one-time items amounting to SEK -1,420 M on the operating result (EBIT) and SEK -1,167 M on the net income.

The Group's sales totaled SEK 11,744 M (9,648), an increase of 22% compared with 2010. Organic growth for comparable units was 4% (6). Acquired units contributed 20% (9). Exchange-rate effects had a negative impact of SEK 195 M on sales, that is -2% (-5).

Operating income before depreciation, EBITDA, amounted to SEK 2,151 M (1,851). The corresponding EBITDA margin was 18.3% (19.2). The Group's operating income, EBIT, amounted to SEK 1,881 M (1,606), an increase of 17%. The operating margin was 16.0% (16.6).

Net financial items amounted to SEK -158 M (-201). The Group's income before tax amounted to SEK 1,723 M (1,405), an improvement of 23% compared with the previous year. Exchange-rate effects had a negative impact of SEK 38 M on the Group's income before tax. The profit margin was 14.7% (14.6). The underlying estimated effective tax rate on an annual basis amounted to 23%. Earnings per share amounted to SEK 3.43 (2.86), an increase of 20%.

FULL YEAR

All figures for earnings exclude one-time items amounting to SEK -1,420 M on the operating result (EBIT) and SEK -736 M on the net income.

Sales for 2011 totaled SEK 41,786 M (36,823), representing an increase of 13% compared with 2010. Organic growth was 4% (3). Acquired units contributed 17% (8). Exchange-rate effects affected sales negatively by SEK 2 309 M.

Operating income before depreciation, EBITDA, amounted to SEK 7,646 M (7,041). The corresponding margin was 18.3% (19.1). The Group's operating income, EBIT, amounted to SEK 6,624 M (6,046), an increase of 10%. The corresponding operating margin (EBIT) was 15.9% (16.4).

Earnings per share increased to SEK 12.30 (10.89) Operating cash flow amounted to SEK 6,080 M (6,285).

RESTRUCTURING MEASURES

During the quarter the new restructuring program announced during the fall of 2011 began. A total of 17 production units will be shut down and a number of others will change from full production to final assembly. The cost to be set against earnings was SEK 1,420 M gross and SEK 1,016 M net after the capital gain from the Cardo transaction. Payback time is estimated at just over three years.

Payments related to all restructuring programs amounted to SEK 183 M in the quarter.

All restructuring programs proceeded according to plan and have led to a reduction in personnel of 145 people during the quarter and 5,894 people since the projects began. A further 1,644 people will leave by the end of 2014.

At the end of the quarter provisions of SEK 1,665 M remained in the balance sheet for carrying out the programs.

COMMENTS BY DIVISION

EMEA

Sales for the quarter in EMEA division totaled SEK 3,524 M (3,364), with organic growth of 1% (2). The market situation improved to some extent during the quarter with growth in Scandinavia, Finland, Germany, the UK and Eastern Europe. Sales in France and Belgium were stable while the trend in southern Europe, mainly Spain and Italy, was negative. Acquired growth amounted to 5%. Operating income totaled SEK 640 M (604), which represents an operating margin (EBIT) of 18.2% (18.0), the highest-ever figure for the division. Return on capital employed amounted to 25.4% (26.3). Operating cash flow before interest paid totaled SEK 851 M (858).

AMERICAS

Sales for the quarter in Americas division totaled SEK 2,228 M (2,291), with organic growth of 0% (6). New construction in the institutional segment was more stable than earlier in the year and the sales trends for high-security products and electromechanics were good. Sales on the Residential market showed good growth. At the same time the trends for Security Doors and Latin America were weak. Acquired growth was less than 1%. Operating income totaled SEK 450 M (459) and the operating margin was 20.2% (20.1). Return on capital employed amounted to 21.9% (21.0). Operating cash flow before interest paid totaled SEK 525 M (492).

ASIA PACIFIC

Sales for the quarter in Asia Pacific division totaled SEK 1,990 M (1,766), with organic growth of 9% (12). Growth was good in China, Korea, South-East Asia and India. Australia was affected negatively by falling demand from the commercial segment, and New Zealand showed a continuing negative trend resulting from the earthquakes. Acquired growth amounted to 4%. Operating income totaled SEK 280 M (246), representing an operating margin (EBIT) of 14.1% (13.9). The quarter's return on capital employed amounted to 26.0% (27.3). Operating cash flow before interest paid totaled SEK 617 M (561).

GLOBAL TECHNOLOGIES

Sales for the quarter in Global Technologies division totaled SEK 1,510 M (1,325), with organic growth amounting to 7% (18). HID had strong growth in access control, logical access and secure issuing of smart cards, but e- government and identification technology showed a more restrained trend during the quarter. Large project orders at low margins were delivered to authorities in countries including Indonesia and Romania. Hospitality continued to record strong growth despite low activity in new construction on the hotel market. Demand for NFC locks was very strong and more than 70% of new sales were in this category. Acquired growth amounted to 9%. The division's operating income amounted to SEK 237 M (224), giving an operating margin (EBIT) of 15.7% (16.9). The operating margin was affected by 1.2 percentage points by dilution from negative exchange-rate effects and the acquisition of LaserCard and ActivIdentity. Return on capital employed amounted to 14.7% (15.4). Operating cash flow before interest paid totaled SEK 430 M (359).

ENTRANCE SYSTEMS

Sales for the quarter in Entrance Systems division totaled SEK 2,704 M (1,118), with organic growth amounting to 7% (-2). Growth was good for Besam, Crawford and FlexiForce and generally in the service sector too. Ditec was affected by the negative trends in southern Europe and Normstahl by reduced demand on the residential market. Acquired growth amounted to 141%. Operating income totaled SEK 449 M (198), giving an operating margin of 16.6% (17.7). The operating margin was affected by 1.2 percentage points by dilution from negative exchange- rate effects and the acquisition of Crawford (Cardo). Return on capital employed amounted to 15.6% (18.0). Operating cash flow before interest paid totaled SEK 713 M (141).

ACQUISITIONS

During the quarter Metalind in Croatia and a number of minor acquisitions were consolidated. This means that a total of 18 companies were acquired and consolidated during the year. The combined acquisition price for these 18 companies, excluding disposal groups, amounted to SEK 7,096 M, and preliminary acquisition analyses indicate that goodwill and other intangible assets with indefinite useful life amount to SEK 5,985 M. The acquisition price is adjusted for acquired net debt and estimated earn-outs. Estimated earn-outs at the acquisition dates amount to SEK 446 M.

On 11 January it was announced that ASSA ABLOY had completed the acquisition of the American company Albany Door Systems, one of the global leaders in industrial automatic high-speed doors. The company has about 700 employees and its sales in 2012 are expected to reach SEK 1,300 M.

On 23 January it was announced that ASSA ABLOY had signed an agreement for the acquisition of the Belgian company Dynaco, a leading manufacturer of automatic high-speed doors specializing in sales to a global network of distributors. The company has 140 employees and its sales in 2012 are expected to reach SEK 450 M.

On 27 January it was announced that ASSA ABLOY had acquired the British company Securistyle. Securistyle is active in window fittings and its product offering includes high-quality hinges, handles and window locks. The company has 205 employees and its sales in 2012 are expected to reach SEK 225 M.

SUSTAINABLE DEVELOPMENT

ASSA ABLOY Hospitality, which produces locks and safes for the hotel industry, has phased out all brass in its highest-volume product. The plated brass has been replaced by stainless steel with the same appearance as before. Stainless steel is a far more environmentally friendly product than plated brass, partly through eliminating the whole plating process. It is also significantly cheaper and requires less transporting and reduced stockholding. It is estimated that the change to stainless steel has led to a reduction of 72 tons in brass consumption.

The 2011 Sustainability Report, reporting on the Group's targets and giving other information about sustainable development, will be published at the time of the Annual General Meeting in April 2012.

PARENT COMPANY

'Other operating income' for the Parent company ASSA ABLOY AB totaled SEK 1,808 M (1,623) for the full year. Income before tax amounted to SEK 2,297 M (954). Investments in tangible and intangible assets totaled SEK 116 M (11), of which acquired assets accounted for SEK 114 M (-). Liquidity is good and the equity ratio was 39.3% (52.9).

DIVIDEND AND ANNUAL GENERAL MEETING

The Board of Directors proposes a dividend of SEK 4.50 (4.00) per share for the 2011 financial year. The Annual General Meeting will be held on 25 April 2012.

ACCOUNTING PRINCIPLES

ASSA ABLOY applies International Financial Reporting Standards (IFRS) as endorsed by the European Union. Significant accounting and valuation principles are detailed on pages 86-91 of the 2010 Annual Report. From 2011 ASSA ABLOY is implementing the International Financial Reporting Standard IFRS 5, 'Non- current Assets Held for Sale and Discontinued Operations'. Non-current assets are classified as assets held for sale when their carrying amount will be largely recovered in a sales transaction and a sale is viewed as being highly probable. They are reported at the lower of carrying amount and fair value less costs to sell if their carrying amount can be largely recovered in a sales transaction and not through continuing use and it is highly probable that a sale will occur.

This Year-end Report was prepared in accordance with IAS 34 'Interim Financial Reporting' and the Annual Accounts Act. The Year-end Report for the Parent company was prepared in accordance with the Annual Accounts Act and RFR 2 'Reporting by a Legal Entity'.

TRANSACTIONS WITH RELATED PARTIES

No transactions that significantly affected the company's position and income have taken place between ASSA ABLOY and related parties.

RISKS AND UNCERTAINTY FACTORS

As an international Group with a wide geographic spread, ASSA ABLOY is exposed to a number of business and financial risks. The business risks can be divided into strategic, operational and legal risks. The financial risks are related to such factors as exchange rates, interest rates, liquidity, the giving of credit, raw materials and financial instruments. Risk management in ASSA ABLOY aims to identify, control and reduce risks. This work begins with an assessment of the probability of risks occurring and their potential effect on the Group. For a more detailed description of risks and risk management, see the 2010 Annual Report. No significant risks other than the risks described there are judged to have occurred.

OUTLOOK*

Long-term outlook

Long term, ASSA ABLOY expects an increase in security-driven demand. Focus on end-user value and innovation as well as leverage on ASSA ABLOY's strong position will accelerate growth and increase profitability.

Organic sales growth is expected to continue at a good rate. The operating margin (EBIT) and operating cash flow are expected to develop well.

* Outlook published on 28 October 2011:

Long-term outlook

Long term, ASSA ABLOY expects an increase in security-driven demand. Focus on end-user value and innovation as well as leverage on ASSA ABLOY's strong position will accelerate growth and increase profitability.

Organic sales growth is expected to continue at a good rate. The operating margin (EBIT) and operating cash flow are expected to develop well.

Stockholm, 10 February 2012

Johan Molin
President and CEO

FINANCIAL INFORMATION

The Quarterly Report for the first quarter will be published on 24 April 2012. The Annual General Meeting will be held on 25 April at the Museum of Modern Art in Stockholm.

ASSA ABLOY is holding an analysts' meeting at 10.00 today at Operaterrassen in Stockholm.

The analysts' meeting can also be followed on the Internet at www.assaabloy.com. It is possible to submit questions by telephone on: +46 8 5052 0270, +44 207 509 5139 or +1 718 354 1226

This information is that which ASSA ABLOY is required to disclose under the Swedish Securities Exchange and Clearing Operations Act and/or the Swedish Financial Instruments Trading Act.

The information is released for publication at 08.00 on 10 February.

Q4 2011: http://hugin.info/1014/R/1584582/495762.pdf

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that:

(i) the releases contained herein are protected by copyright and other applicable laws; and

(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: ASSA ABLOY via Thomson Reuters ONE

[HUG#1584582]

FURTHER INFORMATION CAN BE OBTAINED FROM:
Johan Molin
President and CEO
Tel: +46 8 506 485 42

Tomas Eliasson
Chief Financial Officer
Tel: +46 8 506 485 72

Source: ASSA ABLOY

Medusa Mining Limited: Investor Presentation February 2012 Feb 10, 2012 04:11AM

TORONTO, ONTARIO -- (MARKET WIRE) -- 02/10/12 -- Medusa Mining Limited (ASX: MML)(LSE: MML) -

Please find attached an Investor Presentation which the Company will present in Sydney and Melbourne commencing Monday 13 February 2012.

Please find below Competent Persons' Consents in relation to resource and reserve information which appears therein.

Medusa Mining Limited

Information in this report relating to Exploration Results is based on information compiled by Mr Geoff Davis, who is a member of The Australian Institute of Geoscientists. Mr Davis is the Managing Director of Medusa Mining Limited and has sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activity which he is undertaking to qualify as a "Competent Person" as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" and is a "Qualified Person" as defined in "National Instrument 43- 101" of the Canadian Securities Administrators. Mr Davis consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Cube Consulting Pty Ltd

Information in this report relating to Mineral Resources has been estimated and complied by Mark Zammit of Cube Consulting Pty Ltd. Mr Zammit is a member of The Australasian Institute of Mining & Metallurgy and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" and is a "Qualified Person" as defined in "National Instrument 43-101" of the Canadian Securities Administrators. Mr Zammit consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Cube Consulting is an independent Perth based resource industry consulting firm specialising in geological modelling, resource estimation and information technology.

Carras Mining Pty Ltd

Information in this report relating to Ore Reserves is based on information compiled by Dr Spero Carras of Carras Mining Pty Ltd. Dr Carras is a Fellow of the Australasian Institute of Mining & Metallurgy and has 30 years of experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" and is a "Qualified Person" as defined in "National Instrument 43-101" of the Canadian Securities Administrators. Dr Carras consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Carras Mining is an independent Perth based resource industry consulting firm specialising in geological modelling and resource and reserve estimations.

To view the investor presentation, please visit the following link: http://file.marketwire.com/release/765189.pdf

ABN: 60 099 377 849

Contacts:
Medusa Mining Limited
618-9367 0601
618-9367 0602 (FAX)
admin@medusamining.com.au
www.medusamining.com.au

Source: Medusa Mining Limited

Medusa Mining Limited: Investor Presentation February 2012 Feb 10, 2012 04:11AM

TORONTO, ONTARIO--(Marketwire - Feb. 10, 2012) - Medusa Mining Limited (ASX: MML)(LSE: MML) -

Please find attached an Investor Presentation which the Company will present in Sydney and Melbourne commencing Monday 13 February 2012.

Please find below Competent Persons' Consents in relation to resource and reserve information which appears therein.

Medusa Mining Limited

Information in this report relating to Exploration Results is based on information compiled by Mr Geoff Davis, who is a member of The Australian Institute of Geoscientists. Mr Davis is the Managing Director of Medusa Mining Limited and has sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activity which he is undertaking to qualify as a "Competent Person" as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" and is a "Qualified Person" as defined in "National Instrument 43- 101" of the Canadian Securities Administrators. Mr Davis consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Cube Consulting Pty Ltd

Information in this report relating to Mineral Resources has been estimated and complied by Mark Zammit of Cube Consulting Pty Ltd. Mr Zammit is a member of The Australasian Institute of Mining & Metallurgy and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" and is a "Qualified Person" as defined in "National Instrument 43-101" of the Canadian Securities Administrators. Mr Zammit consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Cube Consulting is an independent Perth based resource industry consulting firm specialising in geological modelling, resource estimation and information technology.

Carras Mining Pty Ltd

Information in this report relating to Ore Reserves is based on information compiled by Dr Spero Carras of Carras Mining Pty Ltd. Dr Carras is a Fellow of the Australasian Institute of Mining & Metallurgy and has 30 years of experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" and is a "Qualified Person" as defined in "National Instrument 43-101" of the Canadian Securities Administrators. Dr Carras consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Carras Mining is an independent Perth based resource industry consulting firm specialising in geological modelling and resource and reserve estimations.

To view the investor presentation, please visit the following link: http://file.marketwire.com/release/765189.pdf

ABN: 60 099 377 849

FOR FURTHER INFORMATION PLEASE CONTACT:
        Medusa Mining Limited
        618-9367 0601
        Fax: 618-9367 0602(FAX)
        admin@medusamining.com.au
        www.medusamining.com.au

Source: Medusa Mining Limited

Anticipated Impact of Cessation of Program With a Foreign Customer on Elbit Systems' 2011 Fourth Quarter Net Profit Feb 10, 2012 03:50AM