Perseus Mining Shifts to Production at CMA Underground Mine

Perseus Mining has officially commenced first stoping operations at its CMA underground mine in Côte d’Ivoire. This milestone marks the transition of the project from development to active production, shifting the operational focus toward ore extraction and processing throughput. The start of stoping indicates that the necessary underground infrastructure and access development have reached a stage capable of supporting consistent mining activities.

Operational Transition and Production Scaling

The initiation of stoping at CMA represents a critical phase for the company as it seeks to integrate underground ore into its existing processing streams. By moving into the stoping phase, Perseus Mining can now access higher-grade ore bodies that were previously unreachable through open-pit methods alone. This transition is expected to stabilize production levels and provide a more predictable flow of material to the mill. The ability to execute this phase on schedule serves as a primary indicator of the company's operational efficiency in managing complex mining environments.

Investors should monitor the subsequent production reports to gauge how quickly the underground operation ramps up to its intended capacity. The integration of this new source of ore is intended to offset the natural depletion of open-pit reserves, which is a common challenge in gold mining operations. The success of this ramp-up will be measured by the consistency of ore grades and the management of underground mining costs as the operation matures.

Sectoral Context and Resource Management

The mining sector continues to prioritize the extension of mine life through underground expansion projects. As open-pit resources reach their economic limits, companies that successfully pivot to underground extraction often see a stabilization in their long-term production profiles. This shift is particularly relevant for firms operating in regions where infrastructure and logistical support are already established, as is the case with the CMA project.

For broader context on how operational milestones influence asset valuation, see our stock market analysis. The successful execution of this underground transition provides a baseline for future output projections, which will be essential for assessing the company's cash flow trajectory in the coming quarters. This development follows a series of operational updates that have defined the company's current production strategy, as detailed in the Perseus Mining Q3 2026 Production and Operational Update.

Next Milestones

The next concrete marker for the CMA underground project will be the publication of the next quarterly production report. This document will provide the first set of data regarding ore volumes extracted from the stoping operations and the impact on overall gold recovery rates. Analysts will be looking for confirmation that the underground ore grade aligns with previous geological models and that the extraction costs remain within the projected range. Any deviations in these metrics will serve as the primary signal for adjusting future production guidance for the asset.