PERTH (miningweekly.com) – Gold miner Perseus Mining has reported a 12% increase in gold production for the six months to December, reaching the top-end of its guidance range.
The ASX- and TSX-listed miner produced 137 386 oz of gold during the six months under review, with 68 614 oz of gold recovered in the December quarter. In the six months to December, 133 717 oz of gold was poured, with 65 657 oz poured in the three months to December.
Gold sales for the half-year period reached 127 085 oz, while quarterly sales were reported at 66 644 oz, with sales prices averaging $1 643/oz for the half-year, and $1 687/oz for the quarter.
All-in sustaining costs (AISC) for the half-year reached $1 000/oz, and $1 036/oz for the quarter.
Perseus told shareholders on Thursday that notwithstanding the challenges associated with the Covid-19 pandemic, the company’s three operating mines had performed well in the December quarter, with Yaouré, in Cote d’Ivoire, marking its first gold pour during the quarter.
Commissioning of the Yaouré project is in progress, and commercial production will be declared once all completion tests have been satisfied.
During the first five years of the Yaouré mine life, the project is expected to produce some 215 000 oz/y at an AISC of some $750/oz. An updated life-of-mine plan for the mine is scheduled for release in the March quarter.
Meanwhile, Perseus has set a production guidance of between 175 000 oz and 190 000 oz for the second half of the 2021 financial year, with AISC expected to reach between $950/oz and $1 150/oz.
The company also noted that organic growth opportunities are being investigated on existing licence areas, particularly at Bagoé, near Sissingué in Cote d’Ivoire, and on the Yaouré mining lease, which is expected to deliver incremental growth in mineral resources and ore reserves.