Gold production will progressively increase to more than 500,000 ounces per annum once Yaouré is in full production in 2021/22.
Perseus is focused on discovering, acquiring and developing a portfolio of good quality gold producing assets in West Africa.
Quality management, a strong safety culture and excellent social license are critical to our success.
Group gold production for financial year 2020 totalled 257,639 ounces at a weighted average All-in Site Cost of US$972 per ounce.
At 30 June 2020, Perseus’s global Ore Reserves totalled 3.3 million ounces of gold while Mineral Resources included 7.1 million ounces of gold.
Perseus’s exploration activities are focused on extending the Company’s Ore Reserve inventory at and around our existing operations in Ghana and Cote d’Ivoire as well as discovering new development opportunities elsewhere in West Africa.
Edikan Gold Mine in Ghana was Perseus’s first mine, achieving commercial production in January 2012. Since pouring first gold in late 2011, Edikan Gold Mine has produced nearly 1.75 million ounces of gold and has approximately six years of remaining mine life, based on currently defined Ore Reserves.
Sissingué Gold Mine was developed ahead of time and on budget in January 2018. Its higher-grade gold ore is sourced from one main open pit and several smaller satellite open pits. Sissingué has produced more than 250,000 ounces of gold to date and has generated sufficient cash to fully repay development capital within 26 months from first gold. The opportunity exists for Perseus to materially extend the life of the very efficient Sissingué operation through the delineation of additional economically mineable Mineral Resources on the nearby Fimbiasso and Bagoé exploration licence areas.
Yaouré Gold Mine poured first gold in December 2020, becoming Perseus’s third operation. It is expected to produce more than 200,000oz gold per year over the first five years of its mine life at an average AISC of around US$734. To date, Perseus’s business growth team have identified a number of highly encouraging nearby exploration targets that will be followed up in coming periods with the expectation of delineating sufficient addition mineable Resources to materially extend the current 8.5 year mine life of Yaouré.