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PERTH, Western Australia, April 5, 2019 (GLOBE NEWSWIRE) – Perseus Mining Limited ("Perseus" or the "Company") (TSX and ASX: PRU) is pleased to announce that, within the three month period up to and including As of March 31, 2019, the group again produced gold in line with the expectations of its two mines in West Africa, Edikan and Sissingué.
Strong points
- Reconciliation in March 2019 Gold production of 67,144 ounces in the quarter was 5% higher than the corresponding quarter in 2018;
- Perseus' quarterly gold production includes 44,680 ounces of the Edikan mine in Ghana and 22,464 ounces of gold at the Sissingué gold mine in Côte d'Ivoire;
- A total of 69,139 ounces of gold were paid during the quarter;
- Accounting year to date, gold production of 207,691 ounces;
- Achieving targets of 130,000 to 150,000 ounces of gold and 271,000 to 291,000 ounces of gold for the six months and 2019 fiscal year of June 2019 respectively;
- Perseus expects to release its full report for the March 2019 quarter, including overall site costs, cash flow from operations and quarter end cash and bullion balances on April 16, 2019.
Mr. Jeff Quartermaine, Managing Director and General Manager of Perseus, said: "This is the ninth consecutive quarter in which Perseus has recorded good operational performance from its West African gold mines. During this period, the company has established a credible record of delivering on promises by consistently achieving production and market cost projections. Given the significant improvement in our operating results recently, as evidenced by the strong performance of Edikan anded, achieving the Company's goal of producing 500,000 ounces of gold per year from 2022 appears within the limits of our operational capabilityed Gold Mine is in development and we look forward to getting this result in due course. "
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Declaration of competent person:
All production targets for Edikan and Sissingué mentioned in this report are based on estimated ore reserves that have been prepared by competent persons in accordance with the requirements of the JORC Code.
The information contained in this report regarding estimates of mineral reserves and mineral resources for the EGM deposits was reported for the first time by the Company in accordance with the 2012 JORC Code and NI 43-101 in a market press release issued on January 1, 2010. August 29, 2018. The Company confirms that it is not aware of any new information or data significantly affecting the information contained in this publication on the market and that all the significant badumptions on which these estimates are based and the objectives of production, or the resulting forecast financial information, continue to apply and have not materially changed. The Company further confirms that the significant badumptions underlying the ore reserve estimates described in the "Ashanti Central Gold Project Technical Report, Ghana" of May 30, 2011 continue to apply.
The information contained in this report regarding mineral resources for Sissingué was first disclosed in accordance with the 2012 JORC Code and NI 43-101 in a market announcement published on December 15, 2016 and includes an update of the 39 June 30, 2018. and an adjustment of the model limited to a pit shell of US $ 1,800 / oz, announced in a market announcement on August 29, 2018. The information in this report relating to mineral resources for Fimbibado were first disclosed in accordance with the JORC Code 2012 and NI43-101 in a published market announcement on February 20, 2017 and include a model adjustment limited to a pit shell of US $ 1,800 / oz, reported in a market announcement on August 29, 2018. The information contained in this report concerns the ore reserves of Sissingué and Fimbibado was reported for the first time. the company in accordance with the 2012 JORC Code and NI43-101 in a market announcement published on March 31, 2017 and includes a depletion update as at June 30, 2018 that was announced in a market announcement on August 2018. The Company confirms that it has no knowledge of new information or data significantly affecting the information contained in these market announcements and the badumptions underlying these estimates and production targets, or the forecast financial information derive, continue to apply and have not changed significantly. The Company further confirms that the significant badumptions underlying the ore reserve estimates described in the "Technical Report – Sissingué Gold Project in Côte d'Ivoire" of May 29, 2015 continue to apply.
Caution regarding forward-looking information:
This report contains forward-looking information that is based on management's badumptions, estimates, badyzes and opinions in light of its experience and perception of trends, current and expected future developments, and other factors. which, in the opinion of the management of the Company, are relevant and reasonable in the circumstances at the time such statements are made, but which may prove to be inaccurate. The Company has made badumptions including: the price of gold, the continued commercial production at the Edikan gold mine and the Sissingué gold mine without major disruption, the development of a Yaouré, receiving the required government approvals, the accuracy of the capital and operating cost estimates, the company's ability to operate safely, efficiently and effectively and the company's ability to obtain a funding as required and on reasonable terms. Readers are cautioned that the foregoing list is not exhaustive of all factors and badumptions that may have been used by the Company. Although management believes that the badumptions made by the Company and the expectations expressed by this information are reasonable, there can be no badurance that the forward-looking information will prove to be accurate. Forward-looking information involves known and unknown risks, uncertainties and other factors that could cause the Company's results, performance or achievements to be materially different from anticipated future results, performance or achievements expressed or implied by such information. prospective. . These factors include, among others, the actual price of the gold market, the actual results of ongoing exploration, the actual results of future exploration, changes in project parameters as and as a result of the evaluation of the plans, as well as the factors presented in the report of the Company publicly filed documents. The Company believes that the badumptions and expectations reflected in the forward-looking information are reasonable. In particular, badumptions have been made regarding the Company's ability to continue exploration and development, 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 on a reasonable and reasonable basis. 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.
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