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Perseus Mining Signs Yaouré Mining Convention

THE BOURSE WHSIPERER: Perseus Mining (ASX: PRU) announced that a Mining Convention has been executed in the city of Abidjan, Côte d’Ivoire by representatives of the State of Côte d’Ivoire and Perseus’s Ivorian subsidiary, Perseus Mining Yaouré SA.

Perseus Mining explained the Convention provides a guarantee of fiscal stability and sets out a range of other rights and obligations that will apply to the company during the life of its Yaouré gold mine located in central Côte d’Ivoire.

“The signing of the Yaouré Mining Convention is a major milestone on the path to bringing the Yaouré gold mine into production,” Perseus Mining managing director and CEO Jeff Quartermaine said in the company’s announcement to the Australian Securities Exchange.

“With the document now signed, we can move forward with confidence in the knowledge that the fiscal laws on which our decision to develop the mine was based, will not change during the life of the mine.”

Construction of the Yaouré gold mine is being completed at a total cost of US$265 million.

Development work started in June 2019 and is progressing on schedule and on budget with first gold is expected to be poured in December 2020, one month ahead of the currently contracted completion date.

When commissioned, Yaouré will become Perseus’s third gold mining operation, joining the Sissingué gold mine, also in Côte d’Ivoire, and the Edikan gold mine located in Ghana, in Perseus’s multi-mine, geopolitically diverse portfolio of mines.

“At this stage, an open pit mine with an expected mine life of 8.5 years has been defined at Yaouré, however, it is considered likely that the life of the mine will be extended well beyond this limit as the very considerable mineral potential of the tenements on which the mine is located, is progressively unlocked,” Quartermaine continued.

“In this regard, work has begun on delineating Mineral Resources that can be mined using underground mining techniques and at this stage the results of this work are encouraging.

“Yaouré will be Perseus’s third gold mine and our second gold mine in Côte d’Ivoire.

“When Yaouré is fully operational, Perseus will be producing in excess of 500,000 ounces of gold per year.

“The average all-in site cost of producing gold at Yaouré over the first five years of the mine is forecast to be US$734 per ounce, meaning that if gold prices are maintained at current levels, then very strong cashflows will be generated and available for funding benefits for our stakeholders.”

 

Email: info@perseusmining.com

Web: www.perseusmining.com

 

THE DAILY ROADHOUSE

 

 

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Perseus Mining Shuffles Seats at Boardroom Table

THE DRILL SERGEANT: Perseus Mining (ASX: PRU) made its intentions known that it will be proposing the appointment of David Ransom to the role of non-executive director at the company’s upcoming Annual General Meeting.

 

Perseus Mining Shuffles Seats at Boardroom Table

THE DRILL SERGEANT: Perseus Mining (ASX: PRU) made its intentions known that it will be proposing the appointment of David Ransom to the role of non-executive director at the company’s upcoming Annual General Meeting.

Perseus Mining explained that the appointment of Ransom would bring the total number of directors serving on the company’s Board to six, including five independent, non-executive directors.

On paper, Ransom appears well-qualified, holding a Bachelor of Science (First Class Honours), and a Doctor of Philosophy (PhD) (Structural Geology), he has directly managed exploration programs for a range of companies in Australia and Canada and served as an independent consultant to the global mining industry for many years.

More recently, Ransom has been resource analyst/portfolio manager with responsibility for the Materials and Energy portfolio at the microcap investment fund, Acorn Capital Limited.

He has stepped away from his executive position at Acorn to resume an active role in the industry.

Apart from his academic resume and global industry experience, Ransom has previously served as a director of a number of ASX and TSX companies.

“Dave has a huge amount of relevant work experience gained over many years in the international mining business and with first class professional qualifications to match, his skills set, and his knowledge perfectly complement those of the current members of our Board,” Perseus Mining chairman Sean Harvey said in the company’s announcement to the Australian Securities Exchange.

“Given his outstanding skills and experience in the fields of exploration and geology combined with his deep knowledge of the mining industry globally, Dave’s appointment will be very timely in terms of Perseus’s strategy of focusing on organic growth as the primary means of replacing and expanding its significant Reserve inventory.

“I know I speak for all directors in sincerely welcoming Dave to Perseus and we look forward to receiving his guidance and benefitting from his wealth of technical knowledge and experience as we continue our journey to transform Perseus into a highly credible, mid-tier gold producer, developer and explorer.”

Ransom’s appointment follows the announcement of the retirement of Colin Carson, a founding director of the company, who has decided to retire as an executive Director at the AGM.

Since forming the company in 2004, Carson has served as an executive director.

Carson’s wealth of corporate history and knowledge will not be totally lost to the company, however, as he has agreed to continue serving as a part time consultant for the foreseeable future.

“It is with reluctance and sadness that we have accepted Colin’s decision to retire as an executive director of Perseus after many years of first-class service to the company,” Harvey said.

“In his typically selfless manner, Colin has formed the view that with Perseus’s recent successful transition into a successful, multi-mine, multijurisdictional gold producer, it is time to make way for new blood to join the Perseus Board and to refresh the skill sets available to guide the company through its next exciting phase of growth.”

 

Email: info@perseusmining.com

Web: www.perseusmining.com