[ 2016-10-27 ]

Edikan mine records 9% increase in gold output
production at its Edikan Gold mine, in Western
Region of Ghana, in the quarter ended September
30, on the back of improved mill performance.


The mine produced 43,776 ounces of gold in the
quarter, with the company on track to achieve its
full-year production guidance of 80,000 ounces to
100,000 ounces of gold.

Gold sales from the Edikan mine reached 43,952
ounces during the quarter, up from the 39,642
ounces sold in the previous quarter, with average
sales prices also up from $1,172 per ounce to
$1,223 per ounce.

Production costs had decreased by six per cent to
$1,095 per ounce for the September quarter, while
all-in sustaining costs were also down 10 per cent
quarter-on-quarter to $1,388 per ounce.

Perseus warned on Monday that production and costs
for the December quarter would be impacted on by a
planned shutdown to carry out plant upgrades.

The crusher is scheduled to be shut down for a
two-week period, with the mill scheduled for
shutdown in the second week of the crusher
shutdown.

The downtime has been accounted for in the
full-year production guidance.

Perseus Mining is a West African gold producer,
developer and explorer. Its lead project is the
Edikan Gold mine, formerly known as the Central
Ashanti Gold Project (CAGP), in Ghana.

Edikan comprises a group of large gold deposits
located in the Ashanti gold belt. Perseus started
gold production at Edikan mine in August 2011 and
entered commercial production on January 1, 2012.

Current reserves at Edikan stand at 2.3 million
ounces with additional measured and indicated
resources totalling 5.1 million ounces.

Perseus has commenced exploration at a number of
near-mine prospects, including Bokitsi, Mampong,
Pokukrom and the Agyakusu prospecting licence with
the goal of delineating further resources to
extend the life of Edikan.

Located east of Edikan, the Grumesa project has
0.5 million ounces of measured and indicated
resources and 0.25 million ounces of inferred
resources.

Ghana is the second largest gold producer in
Africa and a top 10 gold producer globally. The
country is set amongst one of the world’s most
prolific regions in terms of gold discoveries and
production growth over the past decade

Source - Ghanaian Times

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