Perseus Mining
The site in Cote d'Ivoire where Perseus Mining's Yaoure will be built

The government of Côte d’Ivoire has granted ASX/TSX-listed gold miner Perseus Mining’s Ivorian subsidiary, Perseus Yaouré SARL its exploitation permit to develop and operate its third gold mine Yaouré in Côte d’Ivoire.

Located near the Ivorian capital of Yamoussoukro adjacent to the Koussou hydro-electric power station, the Yaouré gold mine is expected to become a large scale, low-cost gold mining operation that will form a core asset within Perseus’s asset portfolio for many years to come.

Receipt of the exploitation permit is the final permit that Perseus requires to start developing the Yaouré mine and follows Perseus’s recent announcements that it has accepted an offer of debt financing from a syndicate of international banks and confirmed its financing plans for the mine development.

With all major prerequisites for the development of the Yaouré gold mine now in place, the board of Perseus will convene in the very near future to resolve to commence full scale project development.

Perseus’s CEO and MD Jeff Quartermaine says:

“The granting of the exploitation permit to enable development of the Yaouré gold mine is a major milestone for Perseus that firmly places us on the path to achieving our stated goal of producing more than 500 000 ozs of gold at an all-in cost of less than US$850/oz from multiple mines in several jurisdictions in West Africa.”

“When developed, Yaouré is expected to be a large scale, low cost mining operation capable of generating substantial benefits for all of Perseus’s stakeholders, including not only our shareholders who have been keenly awaiting this milestone, but also our host government and local communities, employees and providers of a range of goods and services.”

On behalf of the Board and the entire team at Perseus, I thank the government of Côte d’Ivoire for granting us the exploitation licence and in doing so, recognising Perseus’s credentials as a capable, reliable and responsible participant in the Ivorian gold mining industry.”