Perseus Mining Limited’s (ASX:PRU) (TSE:PRU) (OTCMKTS:PMNXF) Edikan and Sissingué operations in West Africa continued to perform strongly in the September 2020 quarter relative to the prior quarter, with gold production up 6% to 68,772 ounces.
The company’s gold sales decreased 23% to 60,441 ounces during the quarter, weighted average gold sales price increased 3% to US$1,595 per ounce and notional cashflow increased 8% to US$43.1 million.
Edikan and Sissingué are forecast to continue to produce strongly in the December 2020 quarter, and Yaouré is now expected to contribute to the Perseus group’s production performance in this period for the first time.
Gold production and all-in sustaining cost (AISC) guidance for the December 2020 half year remains unchanged at 125,500 to 139,000 ounces at an AISC of US$940 to US$1,025 per ounce.
Production and cost guidance
Development of Yaouré remains on schedule to achieve the stretch target of pouring first gold in late December 2020.
The project development is 85% complete, with US$222.7 million (84%) of the US$265 million budgeted project cost committed and US$191.4 million (72%) paid to suppliers of goods and services, by September 30 2020.
Yaouré Development Project - financial status
Perseus had cash and bullion on hand on September 30 2020 of US$147.4 million. Corporate debt remains fully drawn to the facility limit of US$150 million giving a net debt position of US$2.6 million.
Quarterly balance of cash and bullion, interest-bearing liabilities and net cash and bullion