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Perseus Mining announces updates resources, reserves and life of mine plan at Sissingue

Mining News - Published on Wed, 31 Oct 2018

Image Source: SteelGuru
Mineral Resources and Ore Reserve statements that we have released indicate thot our recent exploration programs have not only replaced the ore that hos been processed since the mine was commissioned earlier this year but has also modestly increased the inventory. Going forward we expect that this pattern will be repeated with incremental increases in Mineral Resources and Ore Reserves being achieved through the drill out of satellite deposits resulting in an extension of Sissingu&s mine life well beyond the originally envisaged 5 year period."

Life of mine Ore Reserves as at 31 August 2018 total 380,000 ounces of gold, a 9% increase compared to Reserves as at 30 June 2018
Life of mine production averaging 78,000 ounces per annum for remaining 4.6 years of mine life including 86,000 ounces per annum for the next three years
Life of mine after tax cash flows from 1 July 2018 of US$165 million (A$234 million) at gold price of US$1,200 per ounce, approximately A$0.23 per share
US$32.1 million (A$46 million) cash or 30% of development costs, generated in first six months of commercial production
Forecast life of mine All in Sustaining Costs ("AISC") of US$756 per ounce, reflecting actual operating costs and forecast sustaining capital requirements
Sissingue updated Resource estimate reconciles to within 2% of actual mine production to date
Exploration drilling results at Sissingue and nearby Fimbiasso have the potential to increase the remaining mine life beyond 4.6 years.

Source :

Posted By : Joykumar Irom on Wed, 31 Oct 2018
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