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Perseus Mining exceeds FY23 gold production guidance

July 26, 2023 at 10:40 AM EDT

ⓘ This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness.

Perseus Mining Ltd (ASX:PRU, TSX:PRU, OTC:PMNXF) managing director and CEO Jeff Quartermaine talks Proactive through the company’s key operating highlights for the June quarter and full 2023 financial year.

Quarterly gold production came in at 136,634 ounces. Gold production and all in sustaining costs significantly outperformed market production and cost guidance for the June 2023 half year and 2023 financial year.

Meanwhile, quarterly gold sales of 140,533 ounces were up 4% on the March 2023 quarter.

The company also reported robust quarterly cashflows, strengthening its net cash and bullion balance by US$51 million.

At the end of the quarter, Perseus held US$522 million in cash and bullion with zero debt.

In addition, Perseus’ total economic contribution to its host countries of Ghana, Côte d’Ivoire and Sudan was roughly US$158 million, representing roughy 58% of revenue during the three-month period.

Some of the quarter’s organic growth activities included mineral resource drill outs and feasibility studies for Yaouré’s CMA Underground Project, which are progressing on schedule.