This signifies that the development and commissioning of Sissingué is nearing completion.
First gold is expected to be produced at Sissingué ahead of schedule, prior to the end of January 2018, and the ramp up to full scale commercial production is expected to be achieved by 31 March 2018.
The estimated capital cost of the full development of the Sissingué mine and infrastructure, excluding early works but including operational readiness initiatives, was US$107 million and on current estimates this budget will not be exceeded.
Based on the updated life of mine plan for Sissingué published in March 2017, estimated gold production totals 358 000 oz over the life of mine including approximately 80 000 ozpa for the first 3.25 years and approximately 70 000 ozpa over the full five year life of mine.
Forecast average weighted all-in site costs, including all direct production costs, royalties, waste stripping costs and sustaining capital expenditure, are estimated at approximately US$625/oz in the first 3.25 years of production and approximately US$630/oz over the full mine life.
Significant potential exists to increase Sissingué’s currently delineated mineral resources, ore reserves and mine life.
Exploration programmes targeting mineralisation located within trucking distance of the mine have been developed and are scheduled to be implemented once the mine is generating positive cash flows.
“The introduction of crushed ore to the mill at Sissingué on Saturday was an important milestone in the journey towards bringing our second operating gold mine into production. We are looking forward very much to starting gold production later in January 2018 and to seeing Sissingué ramp up to full scale production and positive cash flow by the end of the March quarter,” says MD and CEO of Perseus, Jeff Quartermaine.
“At that point, Perseus will be transformed from a single mine, single country business to a multi-mine, multi-jurisdiction operation and we will be well on the way to achieving our goal of producing in excess of 500 000 ozpa of gold from late 2021 from our three West African operations, namely Edikan, Sissingué and Yaouré.”