Operator: Perseus Mining Limited
Royalty: NSR: 1.5%
In 2011, Franco-Nevada acquired an effective 1.5% NSR royalty on Perseus Mining Limited’s (“Perseus”) Edikan gold mine in Ghana. Perseus has 482 km² of tenements centered on the Ashanti Gold Belt including two mining leases of approximately 93 km2 that are the focus of initial production. Perseus released an updated mine plan in April 2014 with average gold production of 240,000 ounces of gold per year for a period from 2016 through 2023.
In June 2015, the Environmental Protection Agency of Ghana approved Perseus’ Supplementary Environmental Impact Statement which was required for mining the Fetish, Chirawewa, Bokitsi (collectively referred to as the “Eastern Pits”) and Esuajah North gold deposits. During the six months to December 2015, Perseus processed more low-grade, stockpiled ore than planned due to delays in mining of the Eastern Pits which has negatively impacted production for FY2016 (July 2015 through June 2016). Perseus estimates gold production will increase in the second half of FY2016 (January 2016 to June 2016) to 95,000-115,000 ounces of gold from 76,693 ounces of gold produced in the first half of FY2016 (July 2015 to December 2015).
|Total Revenue to FNV ($ million)