Perseus Mining Limited (ASX:PRU) witnessed it’s best annual production till now!!

Perseus updated the market about its gold production for the June 2018 Quarter and confirmed that it has produced a record quantity of gold from its two West African mines and in the process has emphatically demonstrated the success of its plan to transform from a single mine producer into a successful multi-mine, West African focussed explorer, developer and gold producer. The Group has produced 83,881 ounces of gold in June Quarter which included 57,861 ounces from the Edikan gold mine in Ghana (the second best quarter in the mine’s 6.5 year history of commercial production) and 26,020 ounces of gold from the recently commissioned Sissingué gold mine in Côte d’Ivoire. This reflected a growth of 31 per cent more than in the March 2018 quarter and 63 per cent more than in the corresponding quarter in 2017. Further, the Company will release a full report for its June 2018 Quarter (including in all-in site costs and year-end cash balances) on 13 July 2018.

If we check on half-yearly basis, Perseus produced 147,908 ounces of gold which was within the range of production guidance that was previously announced that is 140,000 to 160,000 ounces of gold. This includes 112,843 ounces from Edikan and 35,425 ounces from Sissingué and which in turn reflects an increase of 37 per cent relative to the December 2017 Half Year gold production of 108,008 ounces and is 48 per cent more than in the June half year in 2017. Now if we combine the production of two half years, the Company’s annual gold production for the financial year ended 30 June 2018 will be 255,916 ounces of gold that is an improvement of 45 per cent relative to the previous financial year. This has been the best annual production in the Company’s history, by a significant margin. This made ASX:PRU move upward by 11.5 per cent and traded at $0.485 (as on 5 July 2018; 03:25 PM AEST).


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