Perseus sets conservative target for 2019
PERTH (miningweekly.com) – Dual listed Perseus Mining has set a production target of between 130 000 oz and 150 000 oz for the next six months to December, following a strong June quarter and full year.
The miner said on Friday that based on actual operation performances at both its Edikan and Sissingue mines, in Ghana and Cote d’Ivoire respectively, the December half-year production guidance could prove to be conservative.
However, while the guidance was conservative, the company was yet to process the harder ore types at its Sissingue operation, and as a result, recoveries and throughput rates for the ores were yet to be confirmed, and certain assumptions regarding the potential impact of weather on operating performances also remained to be validated.
The ASX- and TSX-listed gold miner earlier this week reported record gold production from its West African mines during the three months to June, reaching 83 881 oz.
For the half-year ending June, gold production was reported at a record 147 908 oz, while full year production for the period ending June also reached a record 255 916 oz.
Perseus said on Friday that the average gold price achieved during the quarter was $1 312/oz, producing cash margins of $399/oz or $33.4-million of notional free cash flow from operations.
The miner sold 82 251 oz of gold during the three months to June, and 240 315 oz in the full year, with average sales prices in the full year recorded at $1 288/oz.
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