Perseus Mining’s production dips at Ghana mine
PERTH (miningweekly.com) – Dual-listed Perseus Mining has reported a slight decline in production during the first quarter of its 2014 financial year, owing to lower material movements and processing at its Edikan mine, in Ghana.
Gold production for the three months to September declined to 45 830 oz, which was 4% below the June quarter production of 47 565 oz.
Nearly 17% less ore was mined during the quarter under review and the head grade reduced by 13%. The lower first-quarter head grade was in line with expectations, Perseus said on Tuesday, adding that it reflected the strategy of processing a blend of ore drawn from stockpiles and the existing openpits.
The decreased head grade was partially offset by a 3% improvement in the gold recovery rate and improvements in the availability and use of the Edikan processing plant.
Cash costs for the quarter were 5% lower than in the June quarter, as Perseus’ cost-cutting measures took effect. The company said that it expected further efficiency gains and cost improvements in future reporting periods.
Cash cost for the quarter were $1 342/oz.
Meanwhile, during the quarter under review, Perseus sold 49 069 oz of gold, at an average price of A$1 342/oz, compared with the 52 626 oz sold during the previous quarter, at a sales price of A$1 308/oz.
Earlier this month, ASX- and TSX-listed Perseus announced an updated life-of-mine (LoM) plan for the Edikan mine, extending the project’s life by nearly one year, to 2024.
The new LoM plan estimated that average gold production of 230 000 oz would be reached, at an all-in cash cost of $937/oz from 2014 to 2024. The company’s production guidance for the financial year to the end of June 2014 remained unchanged at 200 000 oz.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.
VISIT SHOWROOM
Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
