Gold steadies as traders focus on uncertain 2025 rate path
Gold has hit successive records this year and is set to close 2024 more than 25% higher.
Perseus Mining (ASX/TSX: PRU) has successfully completed the first pour
of gold at its Yaouré Gold mine in Côte d’Ivoire, five weeks ahead of schedule.
With construction of the Yaouré processing plant and associated infrastructure largely complete, the company expects to declare commercial production during the March 2021 quarter.
Perseus acquired Yaouré when it merged with Amara Mining plc in April 2016. Since then, the company has completed an extensive program of confirmatory drilling and test work and prepared a definitive feasibility study (DFS).
Initially, lower grade oxide ore mainly from decommissioned heap leach pads will be processed in the Yaouré plant pending access to higher grade fresh ore from the CMA pit. During the first five years of the Yaouré mine life, Perseus forecasts annual gold production averaging around 215,000 ounces at a weighted average all-in sustaining cost (ASIC) of approximately $750 per ounce.
With the development and commissioning of Yaouré, Perseus will own and operate three gold mines (Edikan, Sissingué and Yaouré) in two West African countries (Ghana and Côte d’Ivoire).
“The company is on track to increase annual gold production to at least 500,000oz by FY2022,” Perseus said in a press release.
