Perseus Mining Limited - CEO and Managing Director, Jeff Quartermaine
CEO and Managing Director, Jeff Quartermaine
Source: The West Australian
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Perseus Mining (TSX:PRU) hasn’t yet had operations directly affected by the ongoing COVID-19 pandemic but is still preparing its West African mines for a potential outbreak
  • The company was quick to point out that no confirmed cases of COVID-19 have been reported either of its Africa-based mining operations
  • However, as case number worsen the company hopes to draw on its experience managing the 2014 Ebola crisis in the same region
  • The company currently operates in Ghana and Côte d’Ivoire, which have collectively reported around 50 confirmed cases of coronavirus thus far
  • Perseus Mining (PRU) is down 5.8 per cent, with shares trading for C$0.80 and a market cap of $934.4 million. 

Perseus Mining (TSX:PRU) hasn’t yet been materially affected by COVID-19 but is still preparing its West African mining operations as case number rise.

The company was quick to point out that no confirmed cases of COVID-19 have been reported either of its Africa-based mining operations.

The company currently operates Edikas and Sissingué gold mines in Ghana and Côte d’Ivoire.

Perseus is developing the Yaouré mine, also in West Africa. The company claims that neither gold production nor development schedules have been impacted thus far.

However, if the situation worsens, the company hopes to draw on its experience during the Ebola outbreak in West Africa in 2014.

The company stated that senior management, which were integral during the previous crisis, are reimplementing support and management systems developed at the time.

Recent figures suggest that case numbers in Ghana and Côte d’Ivoire remain relatively low, at around 50 confirmed cases collectively.

However, COVID-19’s rapid infection rate and the pressure it places on healthcare systems could cause national governments to take drastic actions if case numbers continue to worsen.

Earlier today, South Africa went into lockdown as COVID-19 cases surpassed one thousand. This has caused a number of mining operations to slow or halt.

CEO and Managing Director of Perseus Mining, Jeff Quartermaine, believes the company’s focus should be on safety during the crisis.

“As many have already stated, the coronavirus pandemic that has spread around the world in recent times presents enormous challenges for everyone.

“Perseus is certainly not exempt from this and with employees located in Australia and in two countries in Africa we are keenly aware of our responsibilities to all our stakeholders in this difficult time,” he said.

Perseus Mining (PRU) is down 5.8 per cent, with shares trading for C$0.80 at 11:48am EST.

More From The Market Herald

" Grizzly (TSXV:GZD) to advance 2022 drilling for BC precious & battery metals projects

Grizzly Discoveries (GZD) is reviewing proposals for core drilling during the 2022 exploration season.

" ArcPacific (TSXV:ACP) locates lost gold-copper mine on LMSL Project

ArcPacific Resources Corp. (ACP) has discovered an early 1900s era gold-copper mine at its LMSL Project in British Columbia.

" CanAlaska Uranium (TSXV:CVV) begins airborne survey at Geikie Project

CanAlaska Uranium (CVV) has begun a high-resolution helicopter-borne aeromagnetics and radiometrics survey on its Geikie project.

" Osisko Development (TSXV:ODV) releases San Antonio Property mineral resource estimate

Osisko Development Corp. (ODV) has released an initial open pit resource estimate at its San Antonio Project in Sonora State, Mexico.