Meyas Sands Gold Project Update
April 16 2023 - 6:40PM
MEYAS SAND GOLD PROJECT UPDATE
Perth, Western Australia/April 17, 2023/
Perseus Mining Limited (PRU:ASX/TSX) owns 70% of the Meyas Sand
Gold Project (MSGP), in northern Sudan, located approximately 75
kilometres south of the border with Egypt and more than 1,000
kilometres north of Sudan’s capital city, Khartoum.
During the weekend, international and domestic media outlets
reported on instances of armed conflict between the Sudanese
military and an influential militia group, in and around
Khartoum.
While Perseus does maintain a small office in Khartoum to
service the MSGP, its presence in the capital city is minor.
Perseus’s staff, both in Khartoum and on site at MSGP, are safe and
no damage has been reported to any of its physical assets or
infrastructure.
Perseus is maintaining a “business as usual” approach while
actively monitoring the situation, along with a team of
international security specialists. The safety of all of Perseus’s
staff is the number one priority in this situation and Perseus has
a range of measures in place to appropriately respond to any change
in circumstances.
Perseus’s Managing
Director and CEO Jeff Quartermaine said: “Our Meyas Sand
Gold Project, which was acquired nearly 12 months ago, is located
more than 1,000km away from Khartoum – more than the distance from
London to Berlin or 1.5 times the distance from Sydney to
Melbourne. All of our people are safe, and our physical assets are
not damaged by the reported events in Khartoum. We are monitoring
the situation very carefully and are prepared to act if
necessary.
To the end of February 2023, Perseus had invested approximately
US$23 million in MSGP, preparing for a possible Final Investment
Decision (FID) on MSGP in the second half of CY2023. As such, our
Sudanese exploration and pre-development assets currently comprise
a relatively small part of our portfolio.
All of our gold production activities that currently deliver
more than 500,000 ounces of gold per year at an AISC of less than
US$1,000 per ounce, take place in West Africa, specifically, Ghana
and Cote d’Ivoire which are not in any way impacted by the reported
events.
Perseus will publish our March 2023 Quarter report on Wednesday
April 19, 2023, that will indicate that the Company is in very good
shape and continues to deliver material benefits to all of our
stakeholders.”
This announcement was approval for release by Jeff
Quartermaine, Managing Director and CEO.
CAUTION REGARDING FORWARD LOOKING
INFORMATION:
This report contains forward-looking information
which is based on the assumptions, estimates, analysis and opinions
of management made in light of its experience and its perception of
trends, current conditions and expected developments, as well as
other factors that management of the Company believes to be
relevant and reasonable in the circumstances at the date that such
statements are made, but which may prove to be incorrect.
Assumptions have been made by the Company regarding, among other
things: the price of gold, continuing commercial production at the
Yaouré Gold Mine, Edikan Gold Mine and Sissingué Gold Mine without
any major disruption due to the COVID-19 pandemic or otherwise, the
receipt of required governmental approvals, the accuracy of capital
and operating cost estimates, the ability of the Company to operate
in a safe, efficient and effective manner and the ability of the
Company to obtain financing as and when required and on reasonable
terms. Readers are cautioned that the foregoing list is not
exhaustive of all factors and assumptions which may have been used
by the Company. Although management believes that the assumptions
made by the Company and the expectations represented by such
information are reasonable, there can be no assurance that the
forward-looking information will prove to be accurate.
Forward-looking information involves known and unknown risks,
uncertainties, and other factors which may cause the actual
results, performance or achievements of the Company to be
materially different from any anticipated future results,
performance or achievements expressed or implied by such
forward-looking information. Such factors include, among others,
the actual market price of gold, the actual results of current
exploration, the actual results of future exploration, changes in
project parameters as plans continue to be evaluated, as well as
those factors disclosed in the Company's publicly filed documents.
The Company believes that the assumptions and expectations
reflected in the forward-looking information are reasonable.
Assumptions have been made regarding, among other things, the
Company’s ability to carry on its exploration and development
activities, the timely receipt of required approvals, the price of
gold, the ability of the Company to operate in a safe, efficient
and effective manner and the ability of the Company to obtain
financing as and when required and on reasonable terms. Readers
should not place undue reliance on forward-looking information.
Perseus does not undertake to update any forward-looking
information, except in accordance with applicable securities
laws.
ASX/TSXU CODE: PRUCAPITAL
STRUCTURE:Ordinary shares: 1,367,879,570Performance
rights: 12,124,393REGISTERED OFFICE:Level 2437
Roberts RoadSubiaco WA 6008Telephone: +61 8 6144 1700Email:
IR@perseusmining.comwww.perseusmining.com |
CONTACTS:Jeff
QuartermaineManaging Director &
CEOjeff.quartermaine@perseusmining.comNathan
RyanCorporate Relations+61 4 20 582
887nathan.ryan@nwrcommunications.com.au |
Perseus Mining (TSX:PRU)
Historical Stock Chart
From Sep 2024 to Oct 2024
Perseus Mining (TSX:PRU)
Historical Stock Chart
From Oct 2023 to Oct 2024