- Perseus Mining (PRU) has completed the first gold pour at its Yaouré Gold Mine in Côte d’Ivoire five weeks ahead of schedule
- The company will now focus on satisfying performance tests and positioning to declare commercial production
- Perseus is expecting to achieve both during the March quarter which is when the first shipment of gold is expected to occur
- The company is on track to achieve its goal of producing more than 500,000 ounces of gold per year
- Perseus is up a slight 1.74 per cent on the market and shares are trading at $1.32
Perseus Mining (PRU) has completed the first gold pour at its Yaouré Gold Mine five weeks ahead of schedule.
The Yaouré Gold Mine lies in central Côte d’Ivoire, 40 kilometres from the capital, Yamoussoukro.
A definitive feasibility study completed in 2017 showed the project to be economic, low-cost, and robust, with potential to produce 215,000 ounces of gold per year.
Yaouré covers 360 square kilometres and has a mine life of 8.5 years.
Now that Perseus has largely completed construction on the processing plant and associated infrastructure, it will focus on satisfying performance tests and positioning to declare commercial production.
Perseus expects to achieve both during the March quarter, which is when the first shipment of gold is expected to occur.
“Pouring our first gold at Yaouré yesterday represented the achievement of a major milestone in the construction and commissioning of Perseus’ third gold mine,” CEO and Managing Director Jeff Quartermaine said.
“Being able to successfully develop the Yaouré Gold Mine, ahead of schedule and under budget during a year in which the COVID-19 pandemic has severely disrupted many businesses around the world, is a testament to the skill, resilience and dedication of our in-house development team, technical and commercial support staff, our contractors and consultants,” he added.
Perseus now owns and operates three gold mines – Edikan, Sissingué, and Yaouré – in two West African countries and will be on track to achieve its goal of producing more than 500,000 ounces of gold per year.
Perseus is up a slight 1.74 per cent on the market and shares are trading at $1.32 at 11:40 am AEDT.