https://www.engineeringnews.co.za

Perseus narrowly misses Edikan gold guidance

3rd July 2013

By: Creamer Media Reporter

  

Font size: - +

JOHANNESBURG (miningweekly.com) – ASX- and TSX-listed Perseus Mining narrowly missed its half-year production guidance at its Edikan mine, producing 104 329 oz of gold.

The Australia-headquartered company expected output from the Ghana-based gold operation to be between 105 000 oz and 125 000 oz in the six months ended June.

Following record production in the March quarter, Perseus said that the June quarter had started slower as it had to find an optimum balance between throughput rate and gold recovery.

By the end of June, production was closing in on targets, with monthly output coming in at 17 685 oz.

MD Jeff Quartermaine said that the guidance shortfall of 0.6% was “well within” the margin for error in a producing mine, especially a large-scale operation such as Edikan.

“With the recent strengthening of our operating management ranks at Edikan and a very sharp focus on cost-efficient production, we are well placed to undertake the task of restoring market confidence in our ability to consistently produce profitable ounces of gold,” he added.

For the full year ended June 30, a total of 208 029 oz were produced.

The company said it would publish details of its reconciled gold production for the June quarter, including all-in site costs and plans for the next 18 months of production, in its quarterly activities report on July 15.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

The Beneficiation Academy
The Beneficiation Academy

The Beneficiation Academy is a certified training institution that follows all compliance legislation and is accredited with various Sector...

VISIT SHOWROOM 
The Southern African Institute of Mining and Metallurgy
The Southern African Institute of Mining and Metallurgy

The SAIMM started as a learned society in 1894 after the invention of the cyanide process that saved the South African gold mining industry of the...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.059 1.312s - 140pq - 2rq
Subscribe Now