• About
  • Advertise
  • Privacy Policy
  • Contact
Wednesday, June 7, 2023
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

Perseus Mining sets Gold Production Record, Produces 112,786 oz in Q3 2021

October 22, 2021
Stephen KotochiebyStephen Kotochie
in Extractives/Energy
0
gold

Gold bars stacked together

Perseus Mining posted a robust performance as gold throughput from the operations of its combined mining sites, has produced 112,786 ounces of gold in Q3 2021.

This increase in gold output represents a 10 per cent rise from that of end-Q2 2021 and up 28 per cent at end-Q1 2021. The Company’s three operating gold mines include Yaouré and Sissingué in Côte d’Ivoire, and Edikan in Ghana.

Among the three mines, Yaouré Gold Mine was the major contributor to the Group’s strong quarterly result. It produced 64,558 ounces of gold at an All-In-Sustaining Cost of US$671 per ounce, generating notional cashflow of US$65.8 million.

RelatedPosts

UK’s Neptune Energy Involves in Acquisition Talks with ENI

Asante Gold Reports More Than $270 million Revenue in Gold Sales in the First Quarter of 2023

Bulk Oil Distribution Companies Lament Preferential Treatment of BOST in Fuel Allocation As their Losses Skyrocket to $1 million

Perseus also noted that exploration programmes on its Nkosuo prospect near Edikan and the CMA underground prospect at Yaouré returned excellent drill results.

The weighted average production costs at the operations were US$857 per ounce, while a weighted average All-In-Sustaining Cost (AISC) of US$966 per ounce of gold was recorded by the Group during the quarter. These costs were 7 per cent and 8 per cent respectively lower than comparative costs incurred in the previous quarter.

Gold sales from all three operations totalled 107,650 ounces, 1 per cent more than last quarter. The weighted average gold price realised from sales of gold during the quarter was US$1,655 per ounce, slightly more than the price received in Q2 2021.

Perseus’s average cash margin for the third quarter was US$689 per ounce, US$84 per ounce or 15 per cent more than that achieved during the second quarter. Notional operating cashflow from operations was US$77.8 million, US$15.7 million or 26 per cent more than that generated in the prior period.

“Perseus has continued to strengthen its strong sustainability performance relative to our safety, social and environmental objectives and targets.”

Performance of Edikan and Sissingué Mines

Moreover, this was driven by quarter-on-quarter production growth of 10 per cent derived largely from the strong production performance at Yaouré, combined with a commensurate decline in AISC at that mine.

Gold production in the Edikan Mine in Ghana posted 32,161 ounces of gold, 24 per cent less than recorded in the second quarter. Gold sales of 29,345 ounces were 32 per cent less than in the prior quarter, at a weighted average realised gold price of US$1,602 per ounce.

This generated a cash margin of US$28 per ounce, and notional cashflow of US$0.9 million, US$16.5 million less than in the prior period. In short, this was a substandard performance by the Edikan mine relative to expectations.

Furthermore, Sissingué in Côte d’Ivoire, registered a more than expected 16,067 ounces of gold at a production cost of US$830 per ounce and an AISC of US$931 per ounce. The weighted average sales price of 18,250 ounces of gold sold during the quarter was US$1,624 per ounce. This amounted to cash margin of US$693 per ounce.

Notional cashflow generated from the Sissingué operations amounted to US$11.1 million for the quarter, US$9.4 million. This was less than in the prior quarter largely due to the planned reduction in head grade, thus increasing AISC. Also, a 31 per cent decrease in gold production during the period as well as a marginally lower realised gold price led to this decline.

READ ALSO: Ghana’s Revenues to Recover to 15.9 per cent of GDP in 2022- Fitch Solutions

Tags: goldminingPerseussustainability

Related Posts

UK’s Neptune Energy Involves in Acquisition Talks with ENI
Extractives/Energy

UK’s Neptune Energy Involves in Acquisition Talks with ENI

June 7, 2023
Asante Gold Reports More Than $270 million Revenue in Gold Sales in the First Quarter of 2023
Extractives/Energy

Asante Gold Reports More Than $270 million Revenue in Gold Sales in the First Quarter of 2023

June 2, 2023
Bulk Oil Distribution Companies Lament Preferential Treatment of BOST in Fuel Allocation As their Losses Skyrocket to $1 million
Extractives/Energy

Bulk Oil Distribution Companies Lament Preferential Treatment of BOST in Fuel Allocation As their Losses Skyrocket to $1 million

June 3, 2023
CBOD Clarifies Its Stance On Gold-for-Oil Policy
Extractives/Energy

CBOD Clarifies Its Stance On Gold-for-Oil Policy

June 1, 2023
TotalEnergies Secures a 20-Year License Renewal for Nigerian Block
Extractives/Energy

TotalEnergies Secures a 20-Year License Renewal for Nigerian Block

May 30, 2023
Monetisation Of Fiscal Deficit Lessening Monetary Policy – Prof. Bokpin
Extractives/Energy

Bank of Ghana Unveils Plans To Exit From Gold-for-Oil Programme To Stabilize Economy

May 26, 2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Previous Post

Legal Practitioner Suggests 10-20% Investment of National Cathedral Funds into expanding law school

Next Post

Benin votes to legalize abortion

Sign up for The Vaultz analytic wire

Get weekly news analysis from top editors at The Vaultz and stay informed on trending economic and business issues from across the globe.
Use of Single Currency will Promote African Economic Integration- Dr Yeo
Economy

Use of Single Currency will Promote African Economic Integration- Dr Yeo

by Stephen M.CJune 7, 2023
Gertrude Torkornoo Accepted As Chief Justice By Parliament
General News

Gertrude Torkornoo Accepted As Chief Justice By Parliament

by Samuel Y. OtibuJune 7, 2023
They Don’t Have Kobo, They’re All Sleeping Around – Sally Frimpong Mann Attacks
Entertainment

They Don’t Have Kobo, They’re All Sleeping Around – Sally Frimpong Mann Attacks

by Esther Korantemaa OffeiJune 7, 2023
Let’s Collaborate To Halt Climate Change– Lands Minister To Academia
General News

Let’s Collaborate To Halt Climate Change– Lands Minister To Academia

by Angeller AshongJune 7, 2023
UK’s Neptune Energy Involves in Acquisition Talks with ENI
Extractives/Energy

UK’s Neptune Energy Involves in Acquisition Talks with ENI

by Stephen M.CJune 7, 2023
Kegame Reshuffle Military Hierarchy
Africa

Kegame Reshuffle Military Hierarchy

by Sampson AnnorJune 7, 2023
Use of Single Currency will Promote African Economic Integration- Dr Yeo
Gertrude Torkornoo Accepted As Chief Justice By Parliament
They Don’t Have Kobo, They’re All Sleeping Around – Sally Frimpong Mann Attacks
Let’s Collaborate To Halt Climate Change– Lands Minister To Academia
UK’s Neptune Energy Involves in Acquisition Talks with ENI
Kegame Reshuffle Military Hierarchy
Snow
FIND OUT MORE

The Vaultz News

Copyright © 2021 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2021 The Vaultz News. All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In