News Articles for Perseus Mining

GOLD WRAP: Ramelius grade drops; strong quarter for Forrest-backed Greatland; Perseus cash and gold above $1.2 billion.

Perseus Mining boss Jeff Quartermaine says an ideal mix of higher prices and operational performance paved the way for a successful FY25.

Defence and gold drove the growth in value of Western Australia's listed companies last financial year, fueled geopolitical uncertainty and economic instability.

Perseus Mining's long-serving managing director and chief executive Jeff Quartermaine will retire from the goldminer in September, to be replaced by Newcrest Mining alum Craig Jones.

Former Tourism WA managing director Carolyn Turnbull has taken the the chief executive position at Nammos Hotels & Resorts, and has relocated to Dubai for the role.

Perth-headquartered Perseus Mining will self-fund the construction of an $820 million a new goldmine in Tanzania, the first new mine of its kind in the nation in almost two decades.

Predictive Discovery's push for its Guinea-based Bankan gold project to become a tier-1 gold mine received a timely boost on Tuesday.

Perseus Mining has appointed Byrnecut as its primary mining contractor after approving a $124 million underground development at its Yaouré gold mine in Côte d'Ivoire.

Gold exploration company Predictive Discovery has received a massive boost, with its Guinea-based Bankan gold project receiving a key government endorsement.

African gold producer Perseus Mining has upped its stake in Predictive Discovery but has reiterated its not currently eyeing a takeover of the developer.

A booming gold price has helped ensure a strong 2024 financial year for Perseus Mining, which posted a net profit after tax of $US364.8 million, or $536.4 million.

Cashed-up African gold producer Perseus Mining will reap $66 million from the sale of shares in Toronto-listed Montage Gold Corp, acquired in its $215 million 2022 takeover of Orca Gold.

African-focused Perseus Mining has appointed Amanda Weir as its chief operating officer, effective from Monday.

African goldminer Perseus Mining has spent more than $65 million on a strategic stake in fellow ASX-lister Predictive Discovery, but says it is not currently seeking to take over the company.

Aurum Resources has launched a scoping study to assess the development potential of its Boundiali gold project in Côte d'Ivoire after locking in metallurgical experts in a push to deliver a resource estimate by year's end. After a recent raft of high-grade hits and strong metallurgical test results, the appointments also signal the next step in pushing the project quickly towards a prefeasibility study.

Perseus Mining has met its annual guidance, producing 509,977 ounces of gold for the 2024 financial year.

Aurum Resources has revealed a glimmering suite of wide gold hits from a recent diamond drilling campaign at its Boundiali project in West Africa's Côte d'Ivoire – peaking at 90m going 1.16g/t from 143m. The new assay collection also includes 59m at 1.42g/t gold from 68m with 13m at 3.92g/t and 23m at 1.36g/t from 293m featuring a 5m chunk going a solid 3.32g/t.

Perseus Mining boss says the company has a great opportunity to reach or potentially surpass its annual production guidance of 491,000-517,000 ounces of gold for the 2024 financial year.

Resources company OreCorp has announced several changes to its board, a day after Canada-based Silvercorp Metals gave its blessing to Perseus Mining's off-market takeover bid for the company.

OreCorp's Board has unanimously recommended that its shareholders accept an amended takeover proposal from Perseus Mining, in the absence of a superior offer.

Perseus Mining has increased its offer consideration for takeover target OreCorp, upping its all-cash bid from 55 cents per share to 57.5 cents per share.

Shares in Aurum Resources jumped more than 30 per cent this morning after it recorded a whopping 73m intercept going 2.15g/t gold from 172m at its Boundiali project in the West African nation of Côte d'Ivoire. The impressive drill hit contained several high-grade sections, with highlights showing a 4m segment grading 18.63g/t gold from 185m including 1m at a staggering 72.11g/t from 188m.

Aurum Resources has uncovered high-grade gold in a diamond drilling program at its Boundiali project in in Côte d'Ivoire, with assays showing a headline 4m interval grading an eye-catching 22.35g/t from 226m. But the standout intersection was not sitting solo, with other results including 5m at 4.73g/t from 53.5m including 1.1m grading a healthy 20.35g/t and 16.64m at 1.45g/t from 56.26m including 10.4m going 2.11g/t.

OreCorp's board has backed Canadian miner Silvercorp Metals' takeover offer, sticking to its recommendation for approval over rival bidder Perseus Mining.

Aurum Resources has appointed experienced African gold miner Caigen Wang as its new managing director as the company works-up the shallow, wide gold-bearing orebody at its Boundiali project in Côte d'Ivoire. Wang is no stranger to maturing African gold discoveries, taking Tietto Minerals from a market cap of about $30 million to nearly $700 million at its Abujar gold mine, also in Côte D'Ivoire.

Assays from the first eight diamond drill holes at Aurum Resources' Boundiali gold project in Côte d'Ivoire, West Africa suggest wide, shallow gold mineralisation with more assays on the horizon. The best results were 16m at 1.24 grams per tonne from 117m including a 6m thick section grading 2.44g/t from 127m, 7.39m at 1.94g/t from 139.34m including 5.35m at 2.53g/t from 141.37m.

Perseus Mining will launch an off-market takeover bid for OreCorp, initiating a battle with Canadian company Silvercorp Metals for control of the Subiaco-based gold developer.

American West Metals has appointed current non-executive director and 40-year mining veteran Dan Lougher as non-executive chairman of the company. Lougher has a track record of developing and operating large-scale base and precious metals assets in Australia, North America, Africa and Europe and will oversee American West as it looks to develop its potentially massive Storm copper project in Northern Canada.

Aurum Resources has completed its acquisition of PlusOr Global and now officially owns ground in Africa's Côte d'Ivoire, where historic drill hits have run as high as 1m at a massive 30.8g/t gold from 42m. The company says diamond drilling at the project is underway and 29 holes have been completed across three targets for 4592m of core, with assays due back next month.

Aurum Resources is set to take its gold search to a new continent after signing a binding agreement to acquire PlusOr Global, which holds the rights to earn into the Boundiali gold project in Côte d'Ivoire. The project on the southern coast of West Africa covers two contiguous granted exploration permits within Côte d'Ivoire's prospective Boundiali greenstone belt.

Perseus Mining has inserted itself in the middle of Silvercorp's proposed acquisition of OreCorp, acquiring a major stake and declaring its intention to vote against the takeover.

Our board moves wrap includes Paul Chapman, Will Robinson, Paul Frawley, Nick Longmire, Nathan Bartrop, Sean Harvey, and Jeff Quartermaine.

Goldminer Perseus Mining plans to commence underground mining operations at its Yaoure mine in West Africa through a $200 million expansion plan.

Gold producer Perseus Mining has bolstered its profit by 70 per cent to $476 million after enjoying higher gold prices and increased production in the 2023 financial year.

Gold producer Perseus Mining has delayed making a final investment decision on its Meyas Sand Gold project in Sudan following ongoing conflict in the country.

Our weekly appointments wrap includes John Stanning, Paul Ryan, Ashley Muirhead, Simon Atkinson, Chris Woodall, David Schummer, Kim Beazley, Deidre Wilmott, Richard Court, Rebecca Tomkinson, Lynn Kuok, Andrew Eddowes, Linnet Solomons, Emma Woolaston, Alex Petrovski, James Hambly and Paula Rogers.

Perseus Mining is expecting to produce up to 528,370 ounces of gold at the end of this financial year, after exceeding the market guidance for gold production in the recent quarter.

North America focussed mineral explorer American West Metals has appointed highly experienced mining executive Daniel Lougher as its new Non-Executive Chairman effective from February next year. Lougher previously served as Managing Director for nickel developer Western Areas, leading the company to a $1.3 billion acquisition by mega miner IGO Limited. He will initially serve as the company's Non-Executive Director from November this year before transitioning to Chairman.

Mineral explorer Kairos Minerals has beefed up its management with Peter Turner to take the reins as Managing Director and Klaus Eckhof taking a seat as Non-Executive Chairman. The addition of the duo reflects the company's commitment to accelerating the exploration campaigns at its WA lithium and gold projects. Turner's appointment will be effective from May 23rd and Eckhof has already commenced his role.

Perseus Mining has struck a friendly $C219 million deal to acquire full ownership of Canada's Orca Gold Inc, which owns 70 per cent of a development project in Sudan.