- Write by:
-
Monday, May 6, 2019 - 10:10:55 AM
-
1127 Visit
-
Print
Mining News Pro - Perseus Mining has approved the construction of its third gold mine, the Yaouré gold project in Côte d’Ivoire.
According to Mining News Pro - With a forecast capital cost of US$265 million ($378.7 million), Perseus aims to have the mine in production by December 2020.
The decision by Perseus’ board follows the recent grant of an exploitation permit by the Côte d’Ivoire Government for the company’s Ivorian subsidiary, Perseus Yaouré SARL.
Perseus’s development funding plan includes deploying a US$150 million revolving credit facility, alongside US$40 million of underwritten warrants.
It will also use US$81 million of existing cash and bullion from other gold mines and future cashflows.
The development of the mine will take immediate effect, allowing for the execution of engineering and supply contracts between Perseus and engineering company, Lycopodium.
Perseus has previously collaborated with Lycopodium on the development of its Sissingué gold mine, also located in Côte d’Ivoire.
The approval of the mine adds to Perseus’ growing portfolio, which also includes the Edikan mine in Ghana.
Perseus’ chief executive officer and managing director Jeff Quartermaine said the company was excited to continue its development in West Africa.
“A large amount of effort has gone into preparation and planning of the development of Yaouré and with the experience that our team developed from the successful execution of the Sissingué Mine development plan,” Quartermaine said.
“We are confident that Yaouré will also be developed on time and on budget and in the process further establish Perseus’s reputation as a reliable and capable developer and operator of gold mines in West Africa.”
Short Link:
https://www.miningnews.ir/En/News/369582
The four largest indigenous communities in Chile’s Atacama salt flat suspended dialogue with state-run copper giant ...
A prefeasibility study for Predictive Discovery’s (ASX: PDI) Bankan gold project in Guinea gives it a net present value ...
Representatives from the Peñas Negras Indigenous community, in northwestern Argentina, clashed with heavily armed police ...
Newmont confirmed on Wednesday that two members of its workforce died this week at the Cerro Negro mine located in the ...
Chinese investors are snapping up stocks tied to high-flying metals from copper to gold, aiding an onshore market facing ...
Outflows from global physically backed gold exchange traded funds (ETFs) continued for a 10th month in March, but at a ...
i-80 Gold fell by over 11% at market open Tuesday following its announcement of a C$100 million ($74m) public offering ...
Australia’s Westgold Resources said on Monday it had agreed to acquire Toronto-listed Karora Resources in a ...
Chinese coal prices are likely to keep falling until the start of the peak summer season, suppressing imports of the ...
No comments have been posted yet ...