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Perseus extends mine life for its Sissingué gold mine in Côte d’Ivoire

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(Kitco News) - Perseus Mining (TSX: PRU) announced today it has extended the life of mine for its Sissingué gold mine in Côte d'Ivoire.

According to the company's statement, the mine life for Sissingué has been extended to March 2026 with potential for further extension by processing low grade ore stockpiles.

Average annual gold production is currently forecast at 72,000 ounces at an average all-in site cost (ASIC) of US$1,261 per ounce.

The company said that the mine commenced commercial production in 2018 with an initial estimated 4.5-year mine life.

Managing Director and CEO Jeff Quartermaine commented, "The Sissingué gold mine has been an important part of Perseus's geopolitically diversified asset portfolio since commencing commercial production in 2018 with an estimated 4.5-year mine life. Since then, the mine has consistently produced gold in excess of forecasts and importantly, generated significant amounts of free cashflow."

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He added that the updated mine life incorporates the processing of ore from satellite deposits at Fimbiasso and Bagoé as well as the Sissingué gold mine, and results in the life of the Sissingué operation being extended out until at least March 2026.

Perseus 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.

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