Perseus Mining Reports Production Surge in Sissingue Mine Project in Ivory Coast

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Gold mining firm Perseus Mining has reported a surge in production from January to March after the Sissingue gold mine in Ivory Coast started production at the beginning of this year.

Perseus group gold production for the first quarter was reported at 64 027 oz, compared with the 56 699 oz produced in the previous quarter, with the Edikan mine, in Ghana, producing 54 622 oz of gold in the quarter under review, and Sissingue some 9 405 oz.

The Sissingue gold mine reached commercial production at the end of March.

Perseus told shareholders on Monday that the Edikan mine continued its trend of solid production achieved in the previous four quarters, despite the plant run time being 5% lower than the previous quarter, as a planned maintenance shutdown was brought forward from the June quarter.

The impact of this on production was partially offset by 1.5% higher hourly throughput rates during the period, the company explained.

Perseus has maintained its half-year and full-year production guidance of between 140 000 oz and 160 000 oz, and between 250 000 oz and 285 000 oz respectively.

Meanwhile, a development decision on the Yaouré gold project, also in Ivory Coast, is expected towards the end of 2018.

A final feasibility study has estimated that the project could deliver around 1.36-million ounces of gold over an eight-and-a-half year mine life, with the project expected to require a capital investment of $262.7 million.


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