The Yaouré gold project, in Côte d’Ivoire, remains on track to achieve the stretch target of first gold pour in December, dual-listed Perseus Mining reported last week.

Three employees at Yaouré tested positive for Covid-19 last month month, but the company said it had successfully contained the spread of the virus among its workforce.

“Notwithstanding the regrettable infections that occurred post quarter-end, the impact of Covid-19 has been negligible on the progress made to date at the Yaouré development project,” the company said in its June quarter activities report.

Perseus has incurred additional development costs of $1.12-million as a result of implementing measures to ensure full business continuity at Yaouré, but it stressed that this amount was provided for in the contingency sum included in the budget and was not expected to result in a cost overrun of the original construction budget of $265-million.

Development of the Yaouré project, which will produce 215 000 oz/y at an all-in sustaining cost (AISC) of $734/oz, was about 67% complete at the end of June. About 77%, or $204.4-million, of the project cost had been committed and 59%, or $156-million, had been paid to suppliers.

Meanwhile, Perseus reported that its two operating mines, Edikan, in Ghana, and Sissingué, in Côte d’Ivoire, had not been affected by Covid-19 during the quarter, with no reported cases among its employees. Covid-19, however, had added incremental operating costs of about $20/oz in the quarter, as the miner implemented measures to ensure business continuity and the safety and health of its staff at the mines.

“While we remain confident that the measures that Perseus has put in place at its mines and its development project will enable Perseus to remain fully operational, the potential unchecked spread of Covid-19 in West African countries remains a risk to the company in [the] coming months. The rate of increase in reported Covid-19 infections in both Ghana and Côte d’Ivoire in the past month has accelerated and indicates that the pandemic in both countries is far from over,” the gold miner said.

Perseus stated that it was thus challenging to forecast future gold production or costs with full confidence. However, it has set a guidance of 125 500 oz to 139 000 oz at an ASIC of $940/oz to $1 205/oz for the half-year to December 2020.

During the 12 months ended June 2020, Perseus recovered 257 639 oz at a weighted average AISC of $972/oz. Compared with the 2019 financial year, production was down 5% and AISC increased by 1%.