PERTH (miningweekly.com) – Dual listed gold miner Perseus Mining has reported a solid quarter of production during the three months to March.
Perseus’ three operating gold mines, Yaouré and Sissingué in Côte d’Ivoire, and Edikan in Ghana combined to produce 130 275 oz of gold in the March 2023 quarter, in line with the 130 911 oz recovered in the December quarter, while 130 512 oz of gold was poured in the quarter under review, down slightly from the 130 992 oz poured in the previous quarter.
During the quarter, Yaouré produced 64 753 oz of gold at a production cost of $677/oz and an all-in sustaining cost (AISC) of $803/oz, while Edikan produced 53 720 oz of gold at a production cost of $916/oz and an AISC of $1 067/oz.
During the quarter, Sissingué produced 11 534 oz of gold at a production cost of $1 276/oz and an AISC of $1 458/oz. A further 269 oz of gold were produced from ore mined from the Fimbiasso deposit, as these satellite pits ramp up into commercial production, for a total of 11 803 oz for the Sissingué Gold Complex.
Gold sales for the March quarter were down to 135 111 oz from the 203 154 oz sold in the December quarter, with the weighted average gold price realised reaching $1 821/oz, $73/oz more than the December 2022 quarter price of $1 748/oz.
Looking ahead, Perseus told shareholders on Wednesday that Yaouré was in line to achieve its market guidance of between 117 500 oz and 130 000 oz for the half-year ended June, while Edikan’s production for the half-year was targeted at between 87 500 oz and 100 000 oz.
Production from Sissingué in the half-year is expected to reach between 25 000 oz and 30 000 oz, bringing the company’s total production target to 230 000 oz to 260 000 oz for the half-year. For the full 2023 financial year, Perseus is targeting production of between 498 370 oz and 528 370 oz.