Sissingue is a US$107 million development that is currently flagged to produce an average of about 70,000 ounces per annum over the life of mine.
The development means Perseus now has two operations in West Africa, with Edikan in Ghana being the other.
As well as reducing the company’s risk profile, Sissingue establishes Perseus’ development credentials, which “is particularly relevant in the context of … plans to start development of (its) third gold mine at Yaouré, also in Côte d’Ivoire, later this year”.
Development of the third operation will increase Perseus’ output to more than 500,000oz per annum.
Shares in Perseus were down 1% to A45c in early trade, capitalising the company at $465 million.
The stock is up about 50% over the past six weeks.