12:05 PM EST, 01/28/2025 (MT Newswires) -- (Updates shares.)

Perseus Mining ( PMNXF ) late on Monday said it made a positive final investment decision to on a $124.6-million project to develop the CMA underground project at the Yaoure gold mine in Cote d'Ivoire.

The decision took into consideration the Ministry of Mines, Petroleum and Energy's in-principle approval for the project announced in November. Work on the project is expected to begin by mid-year with the development of the first portal.

The start of work remains contingent on the approval of the project's Environmental and Social Impact Assessment by the Ministry of Environment, Sustainable Development and Ecological Transition, as well as the formal granting of a Ministerial Decree.

Perseus shares were last seen down $0.12 to $2.39 on the Toronto Stock Exchange.

Price: 2.39, Change: -0.12, Percent Change: -4.78