The shareholding in Montage, representing 9.6% of these excellent, was thought-about by Perseus to be non-core, the corporate mentioned in an Aug. 21 information launch.
Montage at present holds the advanced-stage Koné venture in Côte d’Ivoire. An up to date feasibility research this 12 months highlighted a 16-year low-cost gold operation able to producing 300,000 oz. per 12 months by means of the primary eight years. Its life-of-mine all-in sustaining value is estimated at $998/oz.
Perseus acquired the Montage frequent shares in Might of 2022 by means of its acquisition of Orca Gold, whose principal asset was a 70% curiosity within the Block 14 venture (since renamed Meyas Sands venture) in Sudan.
“We’re more than happy to have efficiently accomplished the sale of the Montage shareholding at a value that may largely offset the price of our current acquisition of a strategic stake in Predictive’s Bankan gold venture in Guinea, which we imagine is a doubtlessly engaging gold growth venture,” Perseus CEO Jeff Quartermaine mentioned.
Backed by US funding agency Blackrock, Predictive is transferring the Bankan venture in direction of the event part, with an environmental and social influence evaluation (ESIA) and a pre-feasibility research (PFS) accomplished in April 2024. The PFS outlined an preliminary gold reserve of over 3 million oz., with common manufacturing of 269,000 oz. every year over a 12-year mine life.
Perseus at present operates three gold mines in Africa: Edikan in Ghana, and Sissingué and Yaouré in Côte d’Ivoire. Collectively, these mines produced 509,977 oz. within the 2024 fiscal 12 months.