Listed on ASX and TSX, Perseus Mining produced during the previous quarter of the year which ended in September, 43,776 ounces of gold at its Edikan mine in Ghana, thus 9% more than what it produced at the mine the year before, during the same quarter.

The result was due to better performances at the processing plant. The company is thus on the good way to achieve its production targets for the year knowingly 80,000-100,000 oz Au.

Meanwhile, it sold during Q3 2016 43,952 oz of gold, against 39,642 oz the year before, with average sales prices also increasing from $1,172/oz in 2015 to $1,223/oz this year. Production costs decreased by 6% during over the period to $1,095/oz and global costs fell 10% to $1,388/oz.

The miner said output and costs for the ongoing quarter (Q4) will be impaired by the halting of activities in the framework of upgrading of the processing plant.

Proven and probable ore reserves at Edikan have been estimated in March 2016 at 58.4 million tons grading 1.2g/t Au and holding 2,275,000 ounces of gold. Perseus Mining holds, besides the Edikan project in Ghana, the Sissingué gold project in Cote d’Ivoire.

Louis-Nino Kansoun