PERTH (miningweekly.com) – Dual listed gold miner Perseus Mining is on track to achieve its full year production targets after another strong quarter in the three months to September.
The ASX- and TSX-listed company produced 72 477 oz of gold in the quarter under review, compared with the 83 881 oz produced in the June quarter.
The quarterly production included 54 595 oz from its Edikan mine, in Ghana, which was down slightly from the 57 861 oz produced from the mine in the previous quarter, while the Sissingue mine, in Cote d’Ivoire, produced 17 882 oz, down from the 26 020 oz produced in the last quarter of the 2018 financial year.
Perseus said on Thursday that gold production from the Edikan mine was in line with expectations, while production from Sissingue was slightly lower than planned, owing to the impact of an unusually damp wet season at the mine site, which temporarily disrupted mining and processing scheduled during the quarter under review.
Gold sales for the quarter reached 98 361 oz, generating average sales prices of $1 225/oz, while Perseus reported total all-in site costs of $950/oz.
Looking ahead, Perseus expected to produce between 260 000 oz and 300 000 oz of gold in the full year, with group average all-in sustaining costs expected to reach between $925/oz and $1 050/oz.
Meanwhile, Perseus is also expected to start full scale construction of its Yaouré gold project, in Cote d’Ivoire, in early 2019, with first gold expected in late 2020.
Yaouré would cost some $264-million to develop and would produce 215 000 oz/y over its first five years of operations, with life-of-mine average all-in site costs estimated at $759/oz.