Perseus forecasts 2.7 million oz. gold production over five years
Perseus Mining (ASX, TSX: PRU) is forecasting annual gold production of 515,000-535,000 oz. at an all-in sustaining cost of $1,400-$1,500/oz. over the next five fiscal years ending 2030, the company said on Wednesday.The five-year outlook covers Perseus’ three existing mines — Edikan in Ghana, and Sissingué and Yaouré in Côte d’Ivoire — as well as the Nyanzaga project in Tanzania that is scheduled to begin mining in early 2027.Credit: Perseus MiningThe largest contributor over the five years will be Yaouré, accounting for one-third of the projected total production of 2.6-2.7 million oz. The mine, which entered commercial production in March 2021, is expected to produce 210,000 oz. annually over a 12-year mine life.Meanwhile, the Edikan mine — Perseus’ first producing asset — is expected to make up 28% of the group’s gold production until FY2030, while the Sissingué gold complex would provide 10% of its output. The recently committed Nyanzaga project in Tanzania is anticipated to contribute the remaining 28%.In its press release Wednesday, the Australian miner said it “has strong confidence” in its ability to deliver on this five-year outlook, underpinned by a mine plan with high geological and technical certainty, with 93% of the production forming part of the existing ore reserves.Total development capital of $878 million has been allocated to the operating assets during the period to achieve this production outlook, it added.Short-term setbackIn 2023, Perseus delayed its Meyas Sand project in Sudan to prioritize the development of Nyanzaga instead, a decision it says would drop its annual gold output below 500,000 oz. in 2026 and 2027. The company first achieved that annual production target in FY2022.Commenting on the group’s five-year outlook, CEO and managing director Jeff Quartermaine said: “It is clear that this is a temporary setback and that Perseus’s strategy of consistently producing between 500,000 to 600,0000 oz. of gold per year at a cash margin of not less than $500/oz., is eminently achievable.”“With cash and undrawn debt capacity currently exceeding $1.1 billion, Perseus is fully funded to not only deliver the five-year outlook as presented today but also consider a prudent mix of future growth opportunities beyond the current plan,” he added.Perseus Mining’s Toronto-listed shares fell 5.3% to C$3.24 apiece by 12:30 p.m. ET on the five-year outlook, giving the company a market capitalization of C$4.45 billion ($3.26 billion).Weiter zum vollständigen Artikel bei Mining.com
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