PERTH (miningweekly.com) – Subject to securing the necessary debt funding, gold miner Perseus said it was hoping to start production at its Sissingue project, in Côte d’Ivoire, before the end of September this year.
At the end of April, the miner laid the first stone at its second gold mine.
A recent review of the 2010 feasibility study into the Sissingue project reduced capital costs from $115-million to $106-million, based on the delivery of an average 106 400 oz/y of gold over the six-year mine life, based on an initial probable reserve of 675 000 oz.
Perseus had previously said that a proportion of the $106-million project funding would be provided by debt financiers, with the balance of the funds being drawn from the company’s existing cash reserves.
The Sissingue project was expected to pour its first gold within 14 months of the start of construction.