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LONDON, United Kingdom -- Medusa Mining Ltd. said it has obtained permits and has begun preparations for drilling at the Lingig Porphyry copper project, which is expected to start by end of June.

"This 1974 discovery has encouraging mineralization characteristics and the drill program is designed to confirm and extend the earlier results laterally and at depth," Geoff Davis managing director of Medusa said.

"We believe that the Lingig porphyry copper project has the potential to be a significant discovery," Davis added.

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• SingTel to offer Apple's iPhone to customers later this year
• Stockholders mtgs, gov’t data this week
• Shares close sharply lower on inflation, US concerns

• (UPDATE 2) Q2 growth slows to 4.6%
• Gov't revises down Q1 GDP growth to 4.7%
• (UPDATE) Central bank hikes interest rates by 25 bps
• (UPDATE) PSE to extend trading by two hours in 2009
• Mining investments reach over $200 million in Q2
• Oil rises for fourth day to above $119 on storm fears
• Bread prices to increase as local millers hike flour price
• (UPDATE) Oil nears $119, euro rallies on ECB talk
• ASEAN concludes Australia, New Zealand free trade pact
• (UPDATE) Shares close 0.3 percent higher
• Asian bond spreads stay flat ahead of new issuance
• Asian units mostly firmer, Thai baht hurt by politics
• August inflation seen at 11.8-12.6%
• Euro rises further in Asia
• ASEAN, China aim to finalize investment pact
• ASEAN concludes free trade deal with India -- ministers
• Dollar slips against euro, oil
• US, Europe, Japan planned dollar rescue -- Nikkei
• Enforcement of child labor laws weak -- US study
• Gov’t paid P406.8B in debts in first 7 months