Edikan mine records 9% increase in gold output

edikanGold miner Perseus Mining Limited has reported a nine per cent quarter-on-quarter increase in 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


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