Perseus Mining Limited: September Quarter Report
October 19 2022 - 6:30PM
PERSEUS MINING LIMITED: SEPTEMBER
2022 QUARTER
REPORT
Perseus delivers record gold
production
and reduces
AISC by 12% to US$879 per
ounce
PERTH, Western Australia/ October
20, 2022/Perseus Mining Limited
(“Perseus” or the “Company”) (TSX & ASX: PRU) reports on its
activities for the three months’ period ended September 30, 2022
(the “Quarter”).
PERFORMANCE INDICATOR |
UNIT |
MARCH 2022
QUARTER |
JUNE 2022
QUARTER |
JUNE 2022
HALF YEAR |
SEPTEMBER 2022
QUARTER |
CALENDAR 2022 YEAR TO
DATE |
Gold produced |
Ounces |
130,523 |
122,327 |
252,850 |
137,460 |
390,310 |
Gold poured |
Ounces |
132,644 |
120,409 |
253,053 |
139,553 |
392,606 |
Production Cost |
US$/ounce |
789 |
881 |
834 |
762 |
808 |
All-In Site Cost (AISC) |
US$/ounce |
908 |
1,004 |
955 |
879 |
928 |
Gold sales |
Ounces |
131,044 |
111,897 |
242,941 |
58,767 |
301,708 |
Average sales price |
US$/ounce |
1,701 |
1,705 |
1,703 |
1,6451 |
1,691 |
Notional Cashflow |
US$ million |
104 |
85 |
189 |
1122 |
299 |
Notes:
- With no sales of
Sissingué gold during the quarter, the weighted average sales price
for the Group equates to the weighted average sale price for Edikan
and Yaouré only.
- The Group’s
notional cash flow is the sum of the notional cashflow of each
mine. With no Sissingué gold sold during the quarter, the
calculation of notional cash flow for Sissingué is based on the
average sales price for the group less Sissingué’s AISC, applied to
its gold production.
- Operating highlights include:
Record quarterly gold production
of 137,460 ounces, 12%
more than in the June 2022 quarter. Perseus is on track to achieve
its market guidance range of 240,000 to 265,000 ounces for the
December 2022 half year.
Material improvement at the
Edikan Gold Mine with gold
production up 82% from previous quarter to 52,127 ounces at an AISC
of US$1,060 per ounce, 43% lower than the June quarter.
The Group’s weighted average AISC
reduced 12% to
US$879 per ounce
during the
quarter, well below market
guidance of $1,000 - $1,100 per ounce for the December 2022 half
year.
Weighted average quarterly sales price of US$1,645 per ounce,
generated an average cash margin
of
US$766
per ounce of gold for the
September 2022 quarter.
Notional cashflow from
operations of
US$112
million, a 32% increase from the prior
quarter.
The Group’s Total Recordable Injury Frequency Rate
(TRIFR) was reduced from 1.29 at
the end of the June quarter to 1.19 during the
quarter.
- Planning of Front-End Engineering
and Design (FEED) and confirmatory and sterilisation drilling at
the Block 14 Gold Project in Sudan has advanced
with key contracts having been awarded and work due to start in
October.
- Organic
growth activities continued to
deliver excellent results, with a preliminary
feasibility study (PFS) completed and a maiden Ore Reserve
estimated for the first stage of Yaouré’s CMA Underground
Project.
- Perseus’s financial
position continues to strengthen with available
cash and bullion of US$354 million, following debt repayment of
US$25 million in the September quarter. Perseus has a net cash
position of US$329 million at 30 September 2022, approximately
US$51 million more than the previous quarter.
- 20221020 TSX September 2022 Quarter Report_Final
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