The half-year production was at the top end of the guided production range of 120-140,000 ounces and costs also were comfortably within the guided cost range of US$850-1,000 per ounce.
Production for the half was 2.8% higher than the prior June half 2019.
Yaouré development project on schedule and budget
By 31 December 2019, US$165.5 million or 62% of the budgeted project cost of US$265 million had been committed for the development of Perseus’s third gold mine, Yaouré in Côte d'Ivoire.
Of the US$165.5 million committed, US$99.3 million has been paid in cash to suppliers of goods and services.
As per the graph below, December 31 cash and bullion was at US$80.6 million after Yaouré capital expenditure during the quarter of US$72.4 million.
Offsite procurement and development works remain largely on schedule to achieve the stretch target of first gold pour in December 2020.
Busy March quarter ahead
A number of work programs are ongoing during the current March quarter including:
- Edikan: Complete an assessment of the feasibility of developing the Esuajah South orebody;
- Sissngue: Complete an initial Mineral Resource and Ore Reserve estimate for Zanikan and apply for permits;
- Sissngue: Continue drilling at the various prospects in the Zanikan area and other prospects within trucking distance of Sissingué; and
- Yaouré : Continue full-scale construction.