Perseus Mining sticks to FY guidance despite Q3 production dip

The news: Gold producer Perseus Mining remains on track to achieve full-year guidance despite a drop in third quarter production.

The numbers: Gold output for the March quarter dropped to 121,605 ounces, down 8% from the prior quarter, while all-in site cost came in at USD1,209 per ounce, up from USD1,127 an ounce in the previous three months. Gold sales were also down 14% to 117,585 ounces on the back of lower production.

The context: Perseus said production dropped at its Sissingué Gold Complex in Côte d’Ivoire due to a reduction in head grade and at the Edikan mine in Ghana due to a planned ramp-down. This was offset by a slight increase in output at the Yaouré gold mine in Côte d’Ivoire. However, the company still expects to deliver FY25 production between 469,709 and 504,709 ounces at USD1,250 to USD1,280 per ounce.