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Perseus beats full-year guidance

26th July 2023

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Gold miner Perseus Mining has exceeded its gold production and cost guidance for the 2023 financial year, as gold production in the June quarter increased by 4%.

The miner on Wednesday announced that the company had recovered 535 281 oz of gold during the financial year ended June, pouring 538 641 oz, at an all-in sustaining cost (AISC) of $959/oz, exceeding the previously set production target of between 498 370 oz and 528 370 oz guidance and the AISC guidance of between A$1 000/oz and A$1 100/oz.

Gold production from the Yaouré and Sissingué mines in Côte d’Ivoire, and Edikan in Ghana in the three months to June reached 136 634 oz, with 137 586 oz of gold poured at an AISC of A$1 007/oz.

Gold sales during the quarter reached 140 533 oz, bringing financial year sales volumes to 537 564 oz, with average sales prices achieved in the full year reported at $1 803/oz. Sales prices in the June quarter were 9% higher than the March quarter, at $1 933/oz.

During the quarter, Yaouré produced 72 367 oz of gold at a production cost of $603/oz, while Sissingué added 4 035 oz of gold during the quarter, at a production cost of $1 558/oz. Gold production at Sissingué was 19% higher than the previous quarter with the start of commercial production at Fimbiasso.

Edikan produced 50 232 oz of gold at a production cost of $903/oz, with production in the June quarter slightly down from the March quarter as head grades decreased slightly.

Looking at the 2023 calendar year, Perseus has set a group production target of between 509 409 oz and 539 500 oz at an AISC of between $1 035/oz and $1 085/oz.

Edited by Creamer Media Reporter

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