Data source: S&P Global Market Intelligence
3rd April 2018
Perseus Mining Ltd. declared commercial production, effective April 1, at the Sissingué gold mine in Ivory Coast, as the mine exceeded all criteria, including its mill throughput, gold recovery and mining rates, to upgrade its status.
As of March 31, the mine was cash flow positive, with the ramp-up of operations at the mine completed ahead of schedule, according to the company’s April 2 statement.
The company produced first gold at Sissingué on Jan. 26, one month ahead of schedule.
CapEx for the development of the mine and infrastructure, excluding early works, is forecast at US$106.7 million, in line with the company’s budget.
The company will use the cash flows from both the Sissingué and the Edikan mines to partially fund the development of the Yaouré mine, also in Ivory Coast.
Perseus is on track to achieve its production guidance of between 140,000 and 160,000 ounces of gold in the second half of fiscal 2018, as well as its full-year fiscal 2018 forecast of between 250,000 and 285,000 ounces of gold.
