Perseus Mining Limited (ASX:PRU) (TSE:PRU) (OTCMKTS:PMNXF) has passed another milestone in the development of its third operating gold mine, Yaouré in Côte d’Ivoire, with completion of the accommodation rooms in the mine camp.
The tiered accommodation rooms along with the kitchen, dining room and dry mess facilities were completed on June 28 with the rest of the development work at the project on schedule.
Work on the other ancillary buildings is continuing. Including site training and mine technical office, the plant administration and clinic & emergency response facilities, and the high-security entrance.
Shares have been almost 7% higher to A$1.505, a new seven-year high.
Perseus has released a video update on progress at the project during June.
At the mine the run-of-mine (ROM) pad is being constructed, work on the fuel storage facility has commenced and mobilisation of the mining fleet is underway.
The process plant site is also a hive of activity with the primary crusher, including conveyor CV1 and reclaim tunnel, progressing while the Ball and SAG mills, the CIL tanks and HV switchyard are taking shape.
At the tailings storage facility, the wall is being built and the HDPE liner installation is underway.
With the off-site infrastructure, work is being carried out on the river abstraction and 90Kv powerline corridor while stringing of the 90Kv powerline is in progress.
Third operating mine
The Yaouré Gold Project is in central Côte d’Ivoire, 40 kilometres from the capital Yamoussoukro and 6.5 kilometres from hydroelectric power and permanent water supplies at Kossou dam and Bandama River.
A DFS completed by Perseus in 2017 demonstrated Yaouré to be an economic, robust and low-cost project.
The DFS showed an IRR 27% at a gold price of US$1,250 per ounce with annual production of 215,000 ounces at AISC of US$734 per ounce over the first five years of an initial, 8.5 year, mine plan.
It will be the company’s third West African mine behind Edikan and Sissingue and is integral to the company’s plan to grow annual gold production to 500,000 ounces.