Perseus Mining has produced the first gold at Sissingué mine from Côte d’Ivoire in West Africa and expects to achieve full-scale commercial production before the end of March.
Perseus Mining managing director and CEO Jeff Quartermaine said: “The pouring of first gold at Sissingué is an important milestone for Perseus on several levels.
“Apart from the fact that our second producing mine, and our first mine in Côte d’Ivoire, is now operational ahead of schedule and on budget, the achievement of this milestone provides Perseus with a second cash-flow stream and reduces the company’s reliance for income on our first mine, Edikan in Ghana.”
The development of the Sissingué mine and associated infrastructure such as operations readiness initiatives was estimated to be $107m.
The company expects that the allocated budget will not be exceeded, based on current estimates.
A team recruited by Perseus has installed necessary operating systems at the site and is currently assuming the responsibility for every component of the mine and its infrastructure after it is handed over by the construction team.
The handover will be finalised during this quarter.
Perseus aims to produce more than 500,000oz of gold per annum after its three West African licences at Edikan, Sissingué, and Yaouré commercial production.