Perseus Mining shares lift on Yaouré project approvals
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More news: Perseus Mining shares rallied after the gold producer received approvals for the development and operation of its underground project at the Yaouré gold mine in Côte d'Ivoire.
Shares were up 2% to $4.28 at 3pm AEST. The stock is up 62.6% over the last 12 months.
Perseus Mining secures approvals for underground mining at Yaouré project
The news: Gold company Perseus Mining has received approvals for the development and operation of its underground project at the Yaouré gold mine in Côte d'Ivoire.
The context: The presidential decree was issued following the approval of an environmental and social impact assessment earlier this year.
The establishment of the underground operation below the existing open pit will extend the mine life at Yaouré until at least 2035, the company said.
First ore production from the underground operation is planned for January 2026, with commercial production scheduled for March 2027.
What they said: "Receiving the presidential decree authorising the development of Côte d'Ivoire's first underground mine is a major milestone for Perseus, allowing us to immediately proceed with the cutting of portals and ultimately gaining access to further important ore sources for processing through the Yaouré processing facility," said Perseus CEO and managing director Jeff Quartermaine.
"While receipt of the formal authorisation comes later than originally planned, the delay has allowed us time to complete all infrastructure works required to support the operation..."
The source: ASX
