Perseus Mining (ASX:PRU) has revealed its five-year production outlook, with the expectation to recover between 2.6 and 2.7 million ounces of gold via its four operating mines in Ghana, Côte d’Ivoire.
During the five-year period, from FY26-30, between 515,000 and 535,000 ounces of gold is expected to be produced each year from the Yaouré, Nyanzaga, Edikan, and Sissingué mines.
The Yaouré Mine will contribute 34% of the total production, while Edikan will contribute 28% and Sissingué will contribute 10%.
Meanwhile, based on the current schedule, the Nyanzaga Project is expected to provide 28% of the metal production over the next five years.
The weighted average all-in sustaining cost over the period is forecast to be between US$1,400 ($2,148.50) and US$1,500 per ounce.
Perseus, which has a market capitalisation of $5.24 billion, says at a long-term gold price of US$2,400 per ounce, the company’s cash operating margin is expected to exceed US$500 per ounce at all mines over the five-year period.
CEO Jeff Quartermaine says in FY22, Perseus’ gold production reached 500,000 ounces for the first time and the company intends to maintain or exceed this level going forward.
“Perseus’ decision in 2023 to defer development of its Meyas Sand Gold Project in Sudan and pivot towards acquisition and development of the Nyanzaga Gold Project, will lead to a short-term shortfall in 2026 and 2027 relative to this target,” Quartermaine says.
“From the five-year outlook published today, it is clear that this is a temporary setback and that Perseus’ strategy of consistently producing between 500,000 to 600,000 ounces of gold per year at a cash margin of not less than US$500 per ounce, is eminently achievable.”
Quartermaine adds that with cash and undrawn debt capacity currently exceeding US$1.1 billion, the company is fully funded to deliver its outlook plan.
Perseus Mining is an Australian mining company operating several gold mines in Africa.
Write to Aaliyah Rogan at Mining.com.au
Images: Perseus Mining
