And Perseus managing director Jeff Quartermaine told a December quarter conference call that the project was already providing a distinct first mover advantage in the mineral rich country such that further potential opportunities were already coming Perseus' way.

With cash already at US$405 million at the end of December, Perseus will be able to fund Meyas internally, though Quartermaine said debt options were being considered.

Meanwhile 130,911oz were produced in the December quarter from Perseus' existing operations at all-in site costs of $983/oz, with the flagship Yaoure operation in Cote d'Ivoire contributing 65,352oz at AISC of 798/oz and Edikan in Ghana pouring 53,850oz at AISC of $1058/oz.

That capped a highly successful year for the company of 521,221oz produced at AISC $941/oz and increasing cash holdings by $243 million.

Speaking from the company's flagship Yaoure operation, Quartermaine said the current half-year production target for Perseus was 230,000-260,000oz at $1000-1200/oz.

Shares in debt-free Perseus were down 2.5% to A$2.26 in morning trade, capitalising the company at $3.1 billion.