07:42 AM EDT, 04/24/2024 (MT Newswires) -- Perseus Mining Limited ( PMNXF ) overnight Tuesday reported production data for the quarter ending March 31.

Highlights include gold production of 127,471 ounces, with financial year-to-date gold production of 389,048 ounces. The March quarter weighted average AISC of US$1,091 per ounce, slightly above the prior quarter, as foreshadowed last quarter.

According to a company statement, Perseus's strong operating performance is expected to continue for the remainder of the June 2024 half year with gold production and AISC guidance unchanged at 226,000-254,000 ounces at an AISC of US$1,180 to US$1,340.

Average gold sales price increased 3% quarter on quarter to US$2,025 per ounce, while the quantity of gold sold reduced to 115,648 ounces due to the timing of gold shipments and sales.

Perseus's takeover offer for OreCorp Limited advanced materially during the quarter with the OreCorp Board endorsing the offer. Subsequent to quarter end, Perseus's ownership of OreCorp advanced beyond 90% enabling compulsory acquisition of outstanding shares to begin.