Perseus increases output in Sept quarter
PERTH (miningweekly.com) – Gold miner Perseus Mining has reported a 6% increase in production for the three months to September, as both the Edikan mine, in Ghana, and the Sissingue mine, in Cote d’Ivoire, continued to perform strongly.
Gold production for the quarter reached a combined 68 772 oz, with Edikan producing 39 685 oz during the quarter and Sissingue producing 29 087 oz.
Gold sales for the quarter under review declined by 23% in the June quarter, to 60 441 oz, at an average sales price of $1 595/oz. The miner told shareholders on Tuesday that the June quarter sales were abnormally high owing to a deferral of sales in the March quarter.
At the end of the September quarter, gold forward sales contracts were in place for 215 277 oz of gold at a weighted average sales price of $1 434/oz, and the hedges will be delivered progressively over the period leading to the end of June 2022.
The company also held spot deferred sales contracts for a further 95 300 oz, at an average price of $1 586/oz.
Looking ahead at the December quarter, Perseus expected both the Edikan and the Sissingue mines to continue to produce strongly, while the Yaoure development, in Cote d’Ivoire, is expected to contribute to production for the first time.
Project development at Yaoure is some 85% complete, with $222.7-million of the budgeted $265-million already committed.
Gold production in the December half is expected to reach between 125 500 oz and 139 000 oz, with all-in sustaining costs expected at between $940/oz and $1 025/oz for the half-year.
Comments
The
functionality
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation