ASX- and TSX-listed Perseus Mining has accomplished the acquisition of the Nyanzaga gold venture, in Tanzania, by way of the takeover of OreCorp, chairperson and CEO Jeff Quartermaine informs.
The obligatory acquisition technique of the remaining OreCorp shares was accomplished on Might 20, and Perseus now owns 100% of the shares in OreCorp.
Perseus is implementing three concurrent work streams, specifically the implementation of the resettlement motion plan (RAP), further drilling of the Nyanzaga mineralisation and front-end engineering design (FEED).
The corporate is beginning feasibility-level mining research with the intention of releasing its first mineral assets and ore reserves estimates in the course of the December quarter.
Drilling to extend Perseus’ understanding of the Nyanzaga mineral assets will start as quickly as attainable, bearing in mind Tanzanian native procurement rules, the corporate factors out.
FEED research throughout the venture are underneath approach to optimise engineering and capital price estimates for the venture.
A last funding choice )FID) is predicted by year-end, enabling venture growth to start out within the new 12 months with the intention of first gold manufacturing in the course of the first quarter of 2027.
“The Nyanzaga venture represents an thrilling progress alternative for Perseus that aligns with our technique of upgrading the scale, high quality and geographic distribution of our asset portfolio. We’ve hit the bottom operating with the varied work streams and are working diligently in the direction of the goal of taking an FID for the venture by the top of the 12 months.
“Perseus now has three working mines at present producing gold at a price of greater than 500 000 oz/y and two high-quality growth initiatives that when introduced on stream, ought to be sure that Perseus can preserve or exceed its focused manufacturing stage nicely into the subsequent decade,” says Quartermaine.
“With the target of working at the very least 4 mines concurrently, Perseus is nicely superior in the direction of confirming its place as a extremely worthwhile, nicely managed, pan-African gold firm that persistently creates advantages for all stakeholders,” he provides.
