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Perseus reports record quarterly gold production in Africa

July 21, 2021

Africa-focused gold mining company Perseus Mining announced today that its three operating gold mines, Edikan in Ghana, and Sissingué and Yaouré in Côte d’Ivoire, performed strongly in the June 2021 quarter, producing a combined total of 102,788 ounces of gold, 16% more than in the prior quarter and 50% more than in the December 2020 quarter, exceeding the top end of production guidance.The weighted average production costs at Yaouré, Sissingué and Edikan were US$921 per ounce, while AISCs of US$1,047 per ounce of gold were recorded during the quarter. These costs were 8% and 5% higher respectively thancomparative costs incurred in the previous quarter, the company said.Guidance for gold production and AISC for the December 2021 half year set by Perseus at 225,000 to 255,000 ounces at a cost of US$925 to US$1,025 per ounce.The company added it remains on track to achieve its goal of producing more than 500,000 ounces of gold per year at a cash operating margin of not less than US$400 per ounce in FY2022.Additionally, Perseus noted that exploration programmes continued to generate encouraging results from prospects close to each operating mine, demonstrating potential to organically grow the group’s inventory of mineral resources and ore reserves.