Company
Perseus Mining Ltd
ASX:PRU
Perseus Mining Ltd (PRU:ASX) operates three gold mines in Africa: Edikan in Ghana, Sissingué and Yaouré in Côte d’Ivoire. The company acquired Orca Gold and now owns 70% of the Meyas Sand Gold Project in Sudan (formerly 'Block 14 Development Project').
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Perseus Mining profit soars on higher gold production and prices
The company’s Edikan, Sissingué and Yaouré gold mines all contributed to Perseus maintaining its record of consistently strong operating performances.
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Perseus Mining declares maiden 259,000-ounce underground reserve at Yaouré
The reserve will support the initial stages of mining of the CMA orebody by underground methods beneath the existing CMA open pit.
Perseus Mining delivers record performance in FY2022
“This ensures that going forward, we can continue to return capital to our shareholders and also continue to fund the strong growth that Perseus has enjoyed in recent years," MD and CEO Jeff Quartermaine said of the strong balance sheet.
Perseus Mining enhances Yaouré gold bounty with maiden CMA underground reserve
“Having attained the goal of producing gold at a rate of 500,000 ounces per year across our three gold mines, we are now working to maintain, and where possible, exceed that level of production over the next decade and beyond,” said MD/CEO
Perseus Mining set to extend Edikan life with new Nkosuo gold resources
A feasibility study has outlined ore reserves of 10 million tonnes grading 1.04 g/t gold for 332,000 ounces at the deposit, which is just seven kilometres from the Edikan operations.
Perseus Mining acquires all outstanding Orca Gold shares, obtaining 70% interest in Block 14 Gold Project in the process
Perseus has now acquired all shares in Orca Gold, clearing the way to secure a 70% interest in the Block 14 Gold Project in Sudan while also gaining a 31% interest in Montage Gold Corp, another gold-focused company with three projects in We
Perseus Mining moves step closer to finalising Orca Gold acquisition
Perseus has been working closely with Orca management over the last few months, to plan the integration of the two companies and enable the development of Orca's Block 14 Gold Project in Sudan, which they plan to action as soon as possible.
Perseus Mining continues to lead the pack with low CAIC per ounce: Euroz Hartleys
The company is focused on discovering, acquiring and developing a portfolio of quality gold producing assets in Africa.
Perseus Mining progresses Orca Gold acquisition integration as it awaits final shareholder approval
Perseus is working closely with Orca's management team to expedite the integration of the two companies and begin development of the Block 14 Gold Project as soon as possible.
Perseus Mining one step closer to Nkosuo resource thanks to golden drilling results
“The drilling program at Nkosuo has returned impressive results that demonstrate that the deposit has the potential to materially add to Edikan’s mine life,” says CEO & MD.
Perseus Mining unearths more high-grade gold at Yaouré Mine in Côte d’Ivoire
“Having reached our goal of producing gold at a rate of 500,000oz per year across our three gold mines, we are now working to maintain that level of production over the next decade and beyond,” says MD.
Perseus Mining updates Sissingué life of mine plan, production extended to March 2026
“The Sissingué Gold Mine has been an important part of Perseus’ geopolitically diversified asset portfolio since commencing commercial production in 2018 with an estimated 4.5-year mine life. Since then, the mine has consistently produced g
Perseus Mining moves to acquire Orca Gold; investment research firms upgrade or maintain target price
“Overall, we think the deal makes sense from risk-reward and PRU is accustomed to constructing new mines in West Africa. Exposure to West Africa, outside Ghana in particular, may not be for all investors and our Buy rating on PRU accordingl
Perseus Mining to buy remaining 85% stake in Orca Gold for C$198 million in shares
"When the transaction is completed, Perseus will have three operating mines currently producing gold at around 500,000 ounces per year and a high-quality development project, that if brought on stream, should ensure that Perseus can maintai
Perseus Mining boosts half-year revenue 90%, achieves annual gold production target of 500,000 ounces
“With three gold mines in operation, we are now producing gold at our targeted rate of approximately 500,000 ounces of gold per year, and with excellent drill results coming from our organic growth programs we are confident of at least main
Perseus Mining set to generate increased free cash flow in 2022: Cormark Securities
The company's three operating gold mines, Yaouré and Sissingué in Côte d’Ivoire, and Edikan in Ghana have combined to produce a total of 128,378 ounces of gold in the December 2021 quarter.
Perseus Mining on track to produce more than 500,000 ounces of gold at a margin of US$400+ per ounce in FY2022
Combined gold sales from three operating gold mines totalled 130,486 ounces in the December 2021 quarter, 21% more than last quarter.
Perseus Mining's high-grade Yaouré Gold Mine results point to potential added resources
Perseus will use the results to upgrade the CMA Underground inferred mineral resource estimate to indicated status, enabling a PFS for an underground mining operation to be completed by late June 2022, including an initial ore reserve estim
Perseus Mining achieves near-mine exploration success in Ghana with potential to extend Edikan life
Resource definition drilling is ongoing and Perseus expects to complete a maiden mineral resource estimate for Nkosuo early in the June 2022 quarter.
ASX recoups its Omicron losses as iron ore prices could surge sooner rather than later
“Steel margins lifting is a positive sign from the demand side which has coincided with positive news from the steel output side,” said Vivek Dhar, director of mining and energy commodities research at the Commonwealth Bank.
Perseus Mining remains a top pick in Canaccord’s September quarter precious metals recap
Canaccord expects the company to maintain positive momentum into the December quarter with strong production and cost performance at the Yaoure mine.
Perseus Mining remains top gold pick in Canaccord’s coverage
Although the group’s production metrics underwhelmed in the September quarter, all-in sustaining costs (AISC) were a bright spot on the balance sheet.
Perseus Mining continues to set quarterly gold production records while prioritising ESG
Perseus Mining capped another strong quarter with a new record for gold production at Yaouré, producing 64,558 ounces of gold at an AISC of US$671 per ounce which generated a notional cashflow of US$65.8 million.
Perseus Mining deemed a top pick by Canaccord Genuity with long-term 3.7% gold price increase predicted
“We expect the Yaouré ramp-up to drive improved production in the short term, with 2HCY21E (second half, calendar year 2021 end) guidance implying an annualised run-rate of 500,000 ounces per annum (+50% year on year)," says Canaccord.
Perseus Mining confident of Yaouré gold inventory growth after latest drilling success
Positive exploration results at Yaouré in Côte d’Ivoire come one day after similarly positive results at the Edikan Gold Project in Ghana.
Perseus Mining finds exploration success in Ghana amid Nkosuo prospect drilling
The gold miner and explorer is ramping up to produce 500,000 ounces of gold per annum at its three West African operations.
Perseus Mining has target price raised by Citi Research after FY2021 net profit rises to A$139 million
Perseus completed the construction and commissioning of its third gold mine, Yaouré, in FY2021 while maintaining steady operating performance at its two other gold mines, Sissingué and Edikan.
Perseus Mining increases net profit by 48% in FY2021 to $139 million and declares maiden dividend
The company also increased its FY2021 EBITDA by 11% on the previous financial year to A$303.1 million.
Perseus Mining boosts Yaouré gold production forecast to 1.43 million ounces over life of mine
Perseus says Yaouré will produce 260,000 ounces of gold per year, making up more than half of the company’s stated annual goal of 500,000 ounces.
Perseus Mining named “top pick” by Cannacord
Cannacord doubled down on its support for Perseus this week, tweeting “We continue to see @PerseusMining as a sector standout, noting expectations for strong FCF generation and potential for capital management initiatives."
Perseus Mining’s positive outlook makes this a gold sector standout: Canaccord Genuity
Canaccord has lifted its target price to A$2.00 based on upgraded FY22 estimates and potential for mine life extensions at Sissingue.
Perseus Mining reports another record quarter with gold production exceeding top end of guidance
In the June quarter, it recorded gold production of 102,788 ounces, up 16% on the March 2021 quarter and up 50% on the December 2020 quarter.
Hope renewed as gold breaks through US$1,900 for first time since January
The increase in the gold price comes on the back of increased investor interest, lower bond yields and a weaker US dollar.
Perseus Mining strengthens board and improves gender diversity with appointment of Amber Banfield
In terms of gender balance, two of Perseus’ directors are women representing approximately 30% of directors.
Perseus Mining chalks improvements in sustainable development as it races towards 500,000 ounces of annual gold production by 2022
Highlights of the report include zero fatalities in the history of the company and significant benefits for its host countries, including 96% of its employees coming from Ghana and Côte d’Ivoire.
Perseus Mining among Canaccord’s top Australian stock picks for June quarter 2021
The publication, Top Australian Stock Picks – June Quarter 2021, contains Canaccord’s top 16 stock picks across a diverse group of sectors.
Perseus Mining on track to meet FY21 gold guidance, according to Citi Research and Credit Suisse
Production at the Yaouré mine ramped up in the March quarter and the company is confident of achieving its 2H guidance of 175-190,000 ounces at US$950-1150/ounce.
Perseus Mining annual golden goal of 500,000 ounces tracking “exceptionally well”
The company has released its March quarterly report, which showed solid increases in both gold production and sales.
Perseus Mining results demonstrate organic growth potential of gold inventory across multi-mine asset portfolio
Perseus is on track to deliver on its plan of producing more than 500,000 ounces gold per annum from FY2022, with each of its Edikan, Sissingue and Yaoure gold mines in production and producing to plan.
Perseus Mining maintains strong FCF profile with Yaouré set to boost production : Cormack Securities
Cormack Securities is confident that company has a strong free cash flow and production growth on tap, with Yaouré set to achieve commercial production in March or April this year.
Perseus Mining transitions to multi-mine, multi-jurisdictional gold producer with 61% hike in first half group net profit
In the six months to December 31, 2020, it produced a total of 137,386 ounces of gold, 2% more than in the corresponding six-month period in 2019.
Miners ride 2020 rollercoaster and come off in strong position
The year in review: 2020 was a rollercoaster 2020 for miners, as gold and commodities caught the virus dip and then the stimulus wave.
The cost of mining gold predicted to fall in 2021 and 2022
In good news for Australian producers, consultancy S&P Global says all-in sustaining costs of mining the precious metal will hit an eight-year low.
Perseus Mining pours first gold at Yaouré five weeks ahead of schedule and under budget
The gold miner expects to declare commercial production at Yaouré next quarter and is on track to increase overall annual production to at least 500,000 ounces by financial year 2022.
Perseus Mining on-track to pour first gold at Yaouré this month
The commissioning and ramp-up of production at Yaouré is a major objective for the company heading into 2021.
Perseus Mining set to deliver material organic growth at each of its three West African operations
Looking ahead, commissioning and ramp-up of production at Yaouré is a major objective for the coming months.
Perseus Mining remains on target to achieve first gold pour at Yaouré next month: video
The company’s Edikan and Sissingué mines in West Africa continued to perform strongly in the September 2020 quarter relative to the prior quarter, with gold production up 6% to 68,772 ounces.
Gold set to benefit from growing risks around COVID-19 with new record level seen before year-end
Gold recorded a spectacular performance during the third quarter, soaring to an all-time high of US$2,067/oz in early August.
Perseus Mining’s gold production rises to 68,772 ounces as Yaouré development remains on schedule
Gold production and cost guidance for the December 2020 half year remains unchanged at 125,500 to 139,000 ounces at an all-in sustaining cost of US$940 to US$1,025 per ounce.
Perseus Mining on cusp of becoming 500,000-ounce per year gold producer when third mine shifts into production
The gold producer has also outlined plans to extend the future of both of its operating West African mines
Perseus Mining on track for first gold pour at Yaouré this quarter
With Yaouré coming online, Perseus’ production levels from FY2022 should be around 500,000 ounces of gold per year.
Perseus Mining itching to get on the ground at new Bagoé Gold Project in Côte d’Ivoire
The company now intends to undertake a definitive feasibility study (DFS), including drilling from next month, to confirm the technical and financial viability of a development concept.
Perseus Mining gets ‘outperform’ rating from Credit Suisse; target price raised
The West African gold producer recorded a net profit after tax of A$94.4 million in FY20 compared to a net profit after tax of A$7.6 million in the previous financial year.
Perseus Mining lodges court approval of Exore acquisition with ASIC
Perseus will gain a dominant gold landholding in Cote d’Ivoire following the acquisition of Exore with 2,000 square kilometres of exploration ground within trucking distance to the Sissingué operations.
Perseus Mining to proceed with Exore acquisition following Supreme Court of Western Australia approval
This move follows the approval for the scheme agreement by Exore shareholders on September 10.
Perseus Mining remains one of the strongest free cash flow generators in our coverage: Cormark Securities
Perseus is expected to deliver over $1.4 billion in free cash flow over the next 5 years as the company’s third gold mine, Yaouré, remains on track for first production by late 2020.
Perseus Mining will implement change in chief financial officer role
The company operates two gold mines – Edikan in Ghana and Sissingué in Côte d’Ivoire - and is developing its third operation Yaouré in Côte d’Ivoire.
Perseus Mining upgrades gold reserves following near mine exploration success and pit optimisations
Despite mining depletion of over three hundred thousand in situ ounces in the last 12 months, Perseus’s total ore reserves have incrementally increased.