dfs announced in canada last nite ., page-2

Thanks G5000. Looks like it will be a good day with gold busting $US1400.

Tengrela Gold Project, C?te d'Ivoire

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

PERTH, Western Australia, Nov. 8 /CNW/ - Perseus Mining Limited (ASX / TSX: PRU) ("Perseus" or the "Company") is pleased to announce completion of its Feasibility Study ("the FS") for the Sissingue Gold deposit which forms part of the Company's Tengrela Gold Project ("TGP") in C?te d'Ivoire. Details are provided below.

Highlights

In summary, the FS, which was managed on behalf of the Company by Mintrex (consulting division of Holtfreters Pty Ltd), confirms the robust project economics of the TGP as well as the upside potential that exists from ongoing resource definition drilling.

Initial Probable Ore Reserve of 657,000oz of gold (using US$950 gold price pit design).
Production of 340,000oz (3.5Mt at 3.3g/t) of gold in first two years of a six year mine life.
Cash costs (C1) in the first two years of US$421/oz, with mine life average cash costs of US$505 per oz.
EBITDA of US$221M for first two years of production at US$1,100 gold price.
Start-up capital cost of US$115 million paid back in 14 months at US$1,100 gold price.
Plan to advance as fast as practicable, targeting first gold pour Q4 2012.
Ongoing aggressive drilling will provide resource growth and extend mine life - next upgrade scheduled for Q1 2011.
Mark Calderwood, Managing Director's Comments

"The robust outcome of the FS has provided Perseus with the basis for a decision to proceed with project permitting and construction planning for the Sissingue deposit on the Tengrela Gold Project. Even at a gold price under US$900 an ounce, the FS provides a payback period under two years."

"Perseus now has combined reserves of 2.79Moz between the TGP and the Central Ashanti Gold Project ("CAGP") in Ghana and we are anticipating another significant reserve upgrade for the CAGP in December 2010."

"Though Measured and Indicated Resources were limited as a function of drilling density, we fast tracked the Sissingue FS to enable an early start to be made to the approval process and planning. Assuming that site construction can begin in 12 months, we would expect production to commence in Q4 2012."

"The FS has shown the TGP to be economically robust as it stands, however I believe there are still several avenues to enhance the profitability and longevity of the project. For example, we are confident that with further drilling we will convert existing Inferred Mineral Resources to the Indicated category during Q1 2011, thereby potentially adding a further 200,000 ounces to the US$950/oz pit shell model. In addition, extensional drilling following up on recent drill hits is likely to further expand our inventory of Mineral Resources and, ultimately, Reserves."

"Also, increasing the drilling density in the high grade zones within the existing Indicated Resource envelope may provide the statistical grounds to increase the top cut that has been applied to drill results, potentially allowing us to include some of the 280,000oz (or 40%) of the gold top cut out of the Mineral Resource used in the calculation of stage 1 and 2 Ore Reserves."

"The Company wishes to thank our staff, Mintrex and the other participants in the FS process for their efforts over the past 10 months to deliver the independent and high quality FS document on time and within budget".