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Perseus Mining Announces to Commence Development of Yaoure Gold Project

06 May 2019  |  08:29:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Perseus to commence development of Yaoure Gold Project

Perseus Mining reported that its Board of Directors has formally approved construction of the Company's third gold mine, the Yaoure Gold Mine in Cote d'Ivoire. With a forecast capital cost of US$265m, Yaoure is expected to become a large scale, low-cost gold mining operation that will form an important part of the Company's asset portfolio for many years to come. Yaoure's US$265m development cost to be funded by US$150m credit facility, US$40m underwritten warrants, US$81m of existing cash and bullion plus future cashflows. The First gold production at Yaoure targeted for December 2020.

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