Perseus Mining has downgraded the production guidance for its Edikan gold mine in Ghana by 9500 ounces.
The company estimated the mine had produced 49,000 ounces for the December quarter compared to its previous November low-end guidance of 58,500 ounces.
Perseus attributed the shortfall to low crusher output from late November until a planned maintenance shutdown in December, followed by a much longer than expected shutdown of eight days.
"The production shortfall was exacerbated by a shortage of crushed material on the coarse ore stockpile to feed the mill during the crusher shutdown and lower recoveries largely attributable to milling a higher proportion of oxide ore to compensate for the lack of crushed primary ore," the company said in a statement.
However Perseus said the crusher had processed 162,193 tonnes in the first 149 operating hours since its recommencement at a near record rate of 1088 tonnes per hour, excluding additional oxide feed of 148 dry tonnes per hour.
The company said it would provide a detailed update on its Edikan primary crusher and mill performance with the release of the quarterly operating results in mid-January after all production and maintenance reports had been received and reviewed.
Perseus shares were up three cents, or 1.43 per cent, to $2.13 at 12.45pm.