Perseus Mining to acquire Exore Resources

Perseus Mining (TSX: PRU; ASX: PRU) is acquiring Exore Resources (ASX: ERX) in an all-share deal worth A$58.9 million (US$41million). Exore Resources’ flagship Bagoe project is within 50 km of Perseus Mining’s Sissingue gold mine in northern Cote d’Ivoire, and the two West Africa-focused companies see important synergies in the transaction. “The acquisition of Exore results in Perseus gaining ownership of approximately 2,000 square kilometres of geologically prospective land in northern Côte d’Ivoire, close to our operating Sissingué gold mine,” Jeff Quartermaine, Perseus Mining’s managing director and CEO, stated in a news release. By acquiring Exore’s land package, Perseus will “have the option of developing the Bagoé project into a new gold mine potentially using the Sissingué infrastructure, or alternatively, delineating further mineral resources that can be economically mined and trucked to our Sissingué plant for processing,” Quartermaine said, noting that the Sissingue operation has a mine life extending to 2023.