Photo by: Bloomberg
PERTH (miningweekly.com) – Dual-listed gold miner Perseus Mining has reported a 6% increase in gold production for the quarter ended December, compared with the previous three months.
Second-quarter gold production of 48 360 oz and half-year output of 94 190 oz were in line with the company's guidance.
ASX- and TSX-listed Perseus said on Tuesday that 2.87-million cubic metres of ore was mined at the Edikan gold mine, in Ghana, during the quarter, which was nearly 12% more than in the September quarter.
The quarter-on-quarter increase in material movement reflected a 25% increase in waste movements, combined with a 24% decrease in the quantity of ore mined, relative to the previous quarter.
During the period under review, run-of-mine stockpiles decreased by 550 744 t, to 3.9-million tons, grading 0.5 g/t gold for some 68 321 oz of gold.
Perseus noted that the reduction in the stockpiles reflected the company’s plans to process stockpiled ore to offset reduced ore production, while mining focused on stripping Stage 3 of the AG pit.
Meanwhile, head-grade of the ore treated during the quarter declined by 5%, compared with the September quarter, in line with expectations and reflective of the company’s strategy of processing a blend of ore drawn from stockpiles and the existing openpits.
The effect of the decreased ore grade on production was offset by an improvement in the gold recovery rate and improvements in the availability and use of the process plant.
Looking ahead, Perseus said it expected to produce between 99 000 oz and 109 000 oz of gold in the six months to June and that its full-year output would be between 190 000 oz and 210 000 oz.