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Perseus Mining has major shareholder increase stake

The company produced a record 83,881 ounces of gold in the June quarter.

word 'shareholder' over market concept
The company is in the process of developing its third West African gold mine

Perseus Mining Ltd (ASX:PRU) has had substantial shareholder, Van Eck Associates Corporation, increase its holding in the company to 6.01% from 5.01%.

VanEck is a global investment manager based in New York City and runs exchange traded funds (ETFs) including the well-known VanEck Vectors Junior Gold Miners ETF.

The shareholding increase to 6.01% from 5.01% is represented by an increase to 62.22 million shares from 51.84 million shares, an increase of 10.38 million shares.

The majority of the shares owned by Van Eck Associates Corporation are for the VanEck Vectors Junior Gold Miners ETF.

VanEck Vectors Junior Gold Miners ETF

The VanEck Vectors Junior Gold Miners ETF is intended to track the overall performance of small-capitalisation companies that are involved primarily in the mining for gold and/or silver.

Other ASX-listed companies in the ETF that has 71 holdings include Evolution Mining Ltd (ASX:EVN), Northern Star Resources Ltd (ASX:NST) and Regis Resources Ltd (ASX:RRL).

READ: Perseus Mining delivers record gold production

Quick facts: Perseus Mining Ltd

Price: 0.995 AUD

ASX:PRU
Market: ASX
Market Cap: $1.17 billion
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on 20/10/19

2 min read