Bank backing Perseus' key Yaoure development

PERSEUS Mining has got the tick of approval from its bankers for its big ticket Yaoure project in Cote d’Ivoire, with Macquarie, Nedbank and Societe Generale committing to provide a revolving cash advance facility of US$150 million.
Bank backing Perseus' key Yaoure development Bank backing Perseus' key Yaoure development Bank backing Perseus' key Yaoure development Bank backing Perseus' key Yaoure development Bank backing Perseus' key Yaoure development

Development of Yaoure will be a key focus.

 
 
 
Yaoure has estimated cost tag of $265 million, with Perseus noting it currently has over $80 million in cash.
 
Making up the difference will be ongoing cash flows provided by its existing mines in Ghana and Cote d'Ivoire, and proceeds from the exercise of warrants that are due to expire later this month.
 
If fully exercised the warrants could bring in a further $40 million, though as of the end of last week, the company's share price was only just above the A44c exercise price.
 
Yaoure is set to become Perseus' key asset, with its development anticipated to take the company's production past the 500,000 ounces per annum mark at all-in-site-costs of less than US$850 per ounce from 2022.
 
Shares in Perseus were up 2% to A47c in early trade, capitalising the company at nearly $500 million.