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Perseus Mining reports "outstanding" year in FY20 with EBITDA up 67%

Perseus Mining Limited (ASX:PRU) (TSE:PRU) (OTCMKTS:PMNXF) has returned financial results described as "outstanding" in the 2020 financial year with EBITDA of $274 million, which was 67% higher than the previous year.

Managing director and CEO Jeff Quartermaine told Proactive that it had been a "very good year indicated by the results, particularly against a backdrop where lots of industries are struggling with COVID and things of that nature".

The company's EBITDA converted to profit after tax of $94 million "which was a somewhat extraordinary 1,146% better than what we achieved in the previous year. This converts to around 8.1 cents per share."

Around $213 million of cashflow was generated from gold operations, 46% up on the previous year, and Perseus had cash in bullion on the balance sheet at the end of the year of $238 million.

Quick facts: Perseus Mining Ltd

Price: 1.1 AUD

Market: ASX
Market Cap: $1.35 billion

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Perseus Mining produces another strong quarter at West African gold mines

Perseus Mining Limited (ASX:PRU) (TSE:PRU) (OTCMKTS:PMNXF) has recorded another strong quarter at its West African operations with gold production higher and costs lower. Managing director and CEO Jeff Quartermaine tells Proactive’s Andrew Scott that production of 64,676 ounces was 12% higher...

on 21/7/20

2 min read