Perseus sets 2022 guidance at least 471 000 oz

Perseus Mining’s financial position continues to strengthen, with the company reporting net cash of $162-million as at December 31.

This follows the company returning $13-million of capital to shareholders, reducing debt by $50-million and investing $11-million in organic growth during the three months ended December 31.

Perseus produced 128 378 oz of gold in the quarter under review, which was a 66% year-on-year increase in production.

The company’s strong performance is forecast to continue in 2022. Perseus plans to produce between 230 000 oz and 265 000 oz of gold for the six months ending June 30, 2022.

Output for the full year is expected to reach between 471 000 oz and 506 000 oz of gold.

Meanwhile, the company’s exploration programmes on the Nkosuo prospect near the Edikan mine, in Ghana, and the CMA Underground prospect at the Yaouré mine, in Côte d’Ivoire, both returned excellent drilling results in the quarter under review, confirming the potential for strong organic growth of each mine.