JOHANNESBURG (miningweekly.com) - Delivering its fourth consecutive quarter of strong operating performance across all parts of its business, ASX- and TSX-listed Perseus Mining on Tuesday reported 2017 calendar year gold production of 208 226 oz, the highest since commercial production started in 2012.
This was supported by its Ghana-based Edikan mine producing 56 699 oz in the December quarter, 11% more than the previous quarter and up 76% year-on-year.
The mine's quarterly production cost also amounted to $998/oz, while its all-in site cost (AISC) was $1 093/oz, 2% less than the prior quarter and 41% less than the corresponding period in 2016.
On a yearly basis, the AISC was $1 109/oz, 28% less than in 2016.
The average price of gold sold during the quarter was $1 260/oz and for 2017, $1 275 oz, generating positive cash margins of $167/oz and $166/oz in each of the periods.
Meanwhile, the miner noted that a positive definitive feasibility study for its Yaouré gold project in Côte d'Ivoire, its planned third gold mine, confirmed that the mine was economically attractive and had a strong production and relatively low cost profile over its currently defined 8.5-year mine life, with significant potential for extension.
The company's production and cost guidance for the June half-year and full year remained unchanged.