Perseus Mining Limited Upgrades Power Generating Capacity at Edikan Gold Mine in Ghana - Seite 2

In late January 2015, the government increased the amount of compulsory load shedding required of mining companies to 33% of normal base load power draw and introduced a roster which temporarily permitted Edikan to draw power for only four days out of every six. Under this scenario, production during the month of February 2015 was approximately 6,500ozs below target notwithstanding outstanding operational performances in terms of throughput rates, head grade and gold recovery when power was available to enable the processing plant to operate.

Edikan's additional power generating capacity will take effect from around the middle of April 2015, which means that gold production from Edikan for the next seven weeks will be reduced by approximately one third of what was originally planned for this period. Beyond that point, it is expected that the operation will perform at or above previously forecast levels.

Revised Production Guidance

As a result of the above, it now appears likely that in the absence of an unexpected improvement in the availability of power in Ghana prior to mid April 2015, Perseus will be unable to produce sufficient gold to meet the production guidance that it has previously provided to the market for the six months and twelve months ending June 30, 2015.

Previous production and cost guidance provided to the market was as follows:

Table 1: FY 2015 Production and Cost Guidance
Parameter	Units	December 2014 Half Year1	June 2015 Half Year	FY2015
Gold Production	Ounces	100,016	115,000-125,000	215,000-225,000
All-In Site Cash Costs	US$/oz	988	1,125-1,225	1,050-1,150

(1)	Actual production and costs

Based on current forecasts, the following production profile appears more likely: