Perseus misses Ghana gold target

Perseus Mining Limited will miss the target of gold output it set for the Edikan Gold mine in Ghana for the December 2012 quarter, the company announced January 2, 2013.

The miner said gold production at its Edikan Gold Mine in Ghana is now estimated to be 49,000 ounces for the December 2012 Quarter, down from the 58,500 it set on November 23,2012.

“The production shortfall resulted, principally, from low crusher output from the time of the November guidance until the planned December maintenance shutdown, followed by a much longer than expected shutdown of eight days in December for the liner change and remedial work, Perseus said in a press statement.

It adds “The production shortfall was exacerbated by a shortage of crushed material on the coarse ore stockpile to feed the mill during the crusher shutdown and lower recoveries largely attributable to milling a higher proportion of oxide ore to compensate for the lack of crushed primary ore.”

Perseus says it will provide update on the Edikan primary crusher and mill performance in mid-January 2013.

Perseus Mining in August 2011 became a producer at the Edikan Gold Mine.

By Ekow Quandzie