West African focussed mining and exploration company Perseus Mining has delivered its fourth consecutive quarter of strong operating performance across all parts of its business.
Highlights of 4Q17 include:
- Perseus’s Edikan Gold Mine in Ghana (Edikan) produced 56 699 oz of gold for the quarter, 11% more than in the previous quarter and 76% more than the corresponding period in 2016.
- Annual gold production of 208 226 oz in calendar year 2017 was the highest annual total since commercial production started in 2012.
- Edikan’s quarterly production cost was US$998/oz and its all-in site cost (AISC) was US$1093/oz, 2% less than the prior quarter and 41% less than the corresponding period in 2016. On an annual basis, the AISC was US$1109/oz, 28% less than in 2016.
- The average price of gold sold during the quarter was US$1260/oz and for the full year, US$1275/oz, generating positive cash margins of US$167 per ounce and US$166/oz in each of the periods.
- Development of the Sissingue´ Gold Mine in Cote d’Ivoire (Sissingue´), Perseus’s second operating mine, progressed strongly with first gold being poured at Sissingue´ on 26 January 2018, a month ahead of schedule and on budget. The mine is on track to start commercial gold production on or before 31 March 2018.
- The positive definitive feasibility study for the Yaoure´ Gold Project in Cote d’Ivoire (Yaoure´), Perseus’s planned third gold mine, confirmed that Yaoure´ is economically attractive and has a strong production and relatively low-cost profile over its currently defined 8.5-year mine life, with significant potential for extension.
Read the article online at: https://www.globalminingreview.com/finance-business/30012018/perseus-mining-reports-positive-4q17-results/