PRECIOUS METALS

Perseus sees Sissingue singing for another four years

Operation was miner's first in Cote d'Ivoire

Sissingue, Cote d'Ivoire

Sissingue, Cote d'Ivoire

While Sissingue established a beachead for Perseus in Cote d'Ivorie, it is very much the company's second tier asset in that country, with Yaoure, the flagship operation, producing more than 75,000oz in the December quarter alone.

Perseus also has its eyes on the Kone project in Cote d'Ivoire, a potential Yaoure-like development currently owned by Montage Gold.

Perseus is in the process of acquiring Orca Gold, which has a 31% stake in Montage.

The scrip transaction is flagged to complete in June.

Perseus started the current quarter with cash and bullion of $212 million and debt of $50 million.

Shares in Perseus were down 1% to A$1.93 in morning trade, capitalising the company at $2.4 billion.

The stock has gained 80-90% over the past year.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

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