A mining company named Perseus Mining Limited owns 70% of the Meyas Sand Gold Project, in northern Sudan, situated roughly 75 km south of the border with Egypt and over 1,000 km north of Sudan’s capital city, Khartoum.
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During the weekend, domestic and international media outlets reported on instances of the armed battle between the Sudanese military and an influential militia group, in and around Khartoum.
While Perseus holds a small office in Khartoum to service the MSGP, its existence in the capital city is small. The staff of Perseus, both in Khartoum and on-site at MSGP, are secure and no damage has been reported to any of its infrastructure or physical assets.
Perseus is holding a “business as usual” method while tracking the situation actively, together with a group of international security specialists. In this circumstance, the number one priority is the safety of all Perseus’s staff and Perseus consists of a range of measures in place to properly respond to any change in conditions.
Our Meyas Sand Gold Project, which was acquired nearly 12 months ago, is located more than 1,000 km away from Khartoum—more than the distance from London to Berlin or 1.5 times the distance from Sydney to Melbourne. All of our people are safe, and our physical assets are not damaged by the reported events in Khartoum. We are monitoring the situation very carefully and are prepared to act if necessary.
Jeff Quartermaine, Managing Director and CEO, Perseus Mining Limited
Quartermaine continued, “To the end of February 2023, Perseus had invested approximately US$23 million in MSGP, preparing for a possible Final Investment Decision (FID) on MSGP in the second half of CY2023. As such, our Sudanese exploration and pre-development assets currently comprise a relatively small part of our portfolio.”
Quartermaine added, “All of our gold production activities that currently deliver more than 500,000 ounces of gold per year at an AISC of less than US$1,000 per ounce, take place in West Africa, specifically, Ghana and Cote d’Ivoire which are not in any way impacted by the reported events.”
“Perseus will publish our March 2023 Quarter report on Wednesday April 19, 2023, that will indicate that the Company is in very good shape and continues to deliver material benefits to all of our stakeholders,” concluded Quartermaine.