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Perseus keeps delivering strong in West Africa

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(Kitco News) - Perseus Mining said yesterday that its gold mining operations continue to perform well and that Edikan, Sissingué and Yaouré gold mines all contributed to Perseus maintaining its record of consistently strong operating performances.

The company stated that its December 2020 half-year gold production of 137,386 ounces was up 12% on the June 2020 half-year, and close to the top end of the production guidance range of 125,500 - 139,000 ounces. At US$1,000 per ounce, AISCs were slightly lower than the June half-year and within the guided AISC range of US$940 - US$1,025 per ounce.

At 68,614 ounces, quarterly gold production was in line with last quarter’s production while AISCs increased by 7% to US$1,036 per ounce.

Quarterly gold sales increased 10% and the average realised gold price increased 6% to US$1,687 per ounce, generating quarterly and half year notional cashflows from operations of US$44.6 million and US$88.3 million, respectively.

Perseus has set gold production and AISC market guidance for the June 2021 half-year at 175,000 to 190,000 ounces at an AISC of US$950 to US$1,150 per ounce.

Perseus now operates three gold mines in West Africa (Edikan in Ghana, Sissingué and Yaouré in Ivory Coast), with its third mine, Yaouré, pouring its first gold in December 2020. The company expects that its annual gold production will increase to more than 500,000 ounces per year by 2022.

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