ASX/TSX-listed Perseus Mining has accepted offers from three leading international banks to provide US$150 million for funding its Yaouré gold mine in Côte d’Ivoire.
Perseus Mining’s CEO and MD Jeff Quartermaine says:
“The agreement on the terms of the debt facility with our banking syndicate was a critical step that needed to be completed to enable the development of the Yaouré Gold Mine.
“Perseus acquired Amara Mining in April 2016 with the specific objective of developing the Yaouré, which was then considered one of the best undeveloped gold resources in West Africa.
“Since acquiring the project, our technical teams have validated our original belief and methodically created a compelling commercial case to develop the gold mine.
“With our international banking syndicate agreeing to provide debt finance, we have put in place the final piece of the funding plan required to deliver our original vision.
“As a management team we believe that the mineral resources and reserves reported to date represent a proportion of the potential of this property.
“We are looking forward to the challenge of, firstly, developing Yaouré on time and on budget and then operating the gold mine in line with expectations.
“In addition to this, we recognise the enormous untapped exploration potential within the Yaouré tenements and with access to funding we expect to be able to materially add to the expected life and value to investors of this operation.”