logo-loader
viewPerseus Mining Ltd

Perseus Mining completes accommodation rooms at Yaouré Gold Project

The company remains on schedule to achieve the stretch target of first gold pour in December 2020 from what will be its third operating mine.

Perseus Mining Ltd - Perseus Mining completes accommodation rooms at Yaouré Gold Project
A new video highlights progress on the site during June

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 higher

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.

Quick facts: Perseus Mining Ltd

Price: 1.495 AUD

ASX:PRU
Market: ASX
Market Cap: $1.76 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Perseus Mining Ltd named herein, including the promotion by the Company of Perseus Mining Ltd in any Content on the Site, the Company receives...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Perseus Mining produces another strong quarter at West African gold mines

Perseus Mining Limited (ASX:PRU) (TSE:PRU) (OTCMKTS:PMNXF) has recorded another strong quarter at its West African operations with gold production higher and costs lower. Managing director and CEO Jeff Quartermaine tells Proactive’s Andrew Scott that production of 64,676 ounces was 12% higher...

3 weeks, 4 days ago

2 min read