Name of the Project
Yaouré gold project.

Location
The project is located on the southern edge of Lake Kossou, 35 km north-west of the capital, Yamoussoukro, and 25 km east-north-east of Bouaflé, in central Côte d’Ivoire.

Client
Perseus Mining.

Project Description
A definitive feasibility study (DFS) has confirmed the high quality of the Yaouré project.

The project comprises two adjacent pits (CMA and Yaouré), with ore also expected to be sourced from three pre-existing heap-leach pads close to the run-of-mine pad.

Proven and probable reserves have been estimated at 26.8-million tonnes grading 1.76 g/t gold for 1.52-million ounces of gold.

The chosen method for the openpit reserves is conventional openpit mining using hydraulic excavators and trucks.

The process plant will comprise a primary crusher with a 6 MW semiautogenous mill and a 6 MW ball mill, pebble crushing, and a gravity and carbon-in-leach circuit with cyanide detoxification.

The plant will process 3.3-million tonnes a year on average over an 8.5-year mine life, recovering 1.37-million ounces over the period.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Based on a gold price of $1 250/oz, the project has a net present value (NPV), at a 10% discount rate, of $170-million and an after-tax internal rate of return of 27%, with a payback of 32 months.

At a 5% discount rate, the project has an NPV of $259-million.

Value
The estimated development capital cost is $262.7-million.

Duration
First gold is expected in 2020.

Latest Developments
A value engineering assessment (VEA) and the front-end engineering and design (FEED) study for the Yaouré gold project, in Côte d’Ivoire, has confirmed the 2017 DFS cost estimates.

The 2017 definitive feasibility study (DFS) estimated that Yaouré would produce 215 000 oz/y over its first five years of operations.

The project was estimated to require a capital investment of $262.7-million, of which $252-million would be spent on the processing plant and infrastructure, and a further $11-million on mining prestrip. 

The FEED study has estimated the captial cost for developing Yaouré at $264-million, with first gold expected in December 2020.

“With this estimate now in hand, we can confidently advance the implemention of our finance plan, which involves the deployment of a debt-funding package to complement a combination of existing cash reserves and expected future cash flow from our two existing operations, both of which are performing in line with internal expectations and contributing to a steady build in our net cash reserves,” Perseus MD Jeff Quartermaine has said.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Perseus Mining, tel +61 8 6144 1700, fax +61 8 6144 1799 or email info@perseusmining.com.