EXPLORATION & DEVELOPMENT

Yaoure gets Perseus go-ahead

Perseus Mining has given the formal go ahead for development of the Yaoure gold project in Cote d’Ivoire, setting the gold miner on course for a production profile more than 500,000 ounces per annum by early next decade.

Michael Quinn
Yaoure in Cote d'Ivoire

Yaoure in Cote d'Ivoire

First gold from opencut mining is pegged for December 2020, with the project's US$265 million capital cost funded out of a $150 million debt facility and Perseus' cash holdings.

The project is to feature a 3.3 million tonne per annum plant with average annual gold production of 215,000oz at all-in-sustaining-costs of US$734/oz for first five years of production.

Development risk is mitigated by Perseus' recent development in Cote d'Ivoire of the Sissingue operation.

Sissingue project builder Lycopodium has got the job at Yaoure.

Perseus acquired the Yaoure project in 2016 via its takeover of Amara Mining.

Perseus is currently producing at an annual run rate of about 280,000-300,000oz

Shares in Perseus closed Friday at A44c, capitalising the company at $514 million.

At that price the stock is at similar levels to 12 months ago.

 

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.