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Perseus Mining and Resolute Mining, gold mines focused on West Africa, benefited from strong buys this week thanks to positive news from their respective operations.
Perseus rose 10% yesterday after announcing record quarterly production. the back of an additional 26,020 ounces of its new Sissingue mine in Ivory Coast. The company led by Jeff Quartermaine produced 83,881 ounces in the June quarter, up 31% from the March quarter.
In addition to the ounces of Sissingue, Peresus also benefited from 57,861 ounces of Edikan Gold in Ghana. Best quarterly performance in the history of 6 and a half years of the mine.
Perseus said that the strong quarterly performance contributed to a record gold production of 201916oz in 2018, 45% higher than that of 2017.
M. Quartermaine said the transition to a group of two mines had generated Perseus expected to develop its third mine, Yaoure in Ivory Coast, later this year. Its shares closed up 4.5 ¢ at 48 ¢
Resolute shares continued their strong growth yesterday, reaching a new high of $ 1.42 on high-grade drilling results from its Syama project at Mali.
included an intersection of 5m at 493g / t gold of 167m and 41m at 12.2g / t from 208m at Tabakoroni depot of the company at 35km south of Syama. The company also recorded solid grades from drilling at Nafolo, adjacent to Syama.
General Manager John Welborn said the results represented the highest quality intersection ever reported to Syama in more than 30 years of exploration by Resolute and BHP. . Open pit mining will start in Tabakoroni this quarter, with an upgrade of the existing resource of 778,000oz scheduled for the end of the year.
Paul Hissey, Resource Analyst at RBC Capital Markets, said drilling results showed Syama's upside potential. The news of yesterday comes after an updated feasibility study for the Syama underground extension this week, which provided a 38 percent increase in resources to 3Moz, a four-year minelife extension and operating costs reduced to US $ 746 / oz
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