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Perseus Mining produces 521 koz of gold in 2022, exceeds guidance

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(Kitco News) - Africa-focused gold miner Perseus Mining (TSX: PRU) today reported that its 2022 calendar year gold production of 521,221 ounces exceeded production guidance range of 492,850 to 517,850 ounces.

The company said that all-in site cost (AISC) of US$941 per ounce achieved in 2022 was below the cost guidance range of US$980 to US$1,025 per ounce.

"Notional cashflow from operations of US$101 million in the quarter resulted in the full calendar year notional cashflow total of US$402 million, 46% more than in the corresponding period,” Perseus added.

The company also noted that strong performance is forecast to continue in the June 2023 Half Year with gold production of 230,000 to 260,000 ounces at an AISC of US$1,000 to US$1,200 per ounce.

Perseus said it is on track to produce 498,370 to 528,370 ounces at an AISC of US$1,000 to US$1,100 per ounce for the Financial Year ending 30 June 2023.

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.

The company has recently acquired Orca Gold, and now owns 70% of the Block 14 development project in Sudan, and a 31.4% stake in the Kone gold project in Ivory Coast.

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