Perseus Mining increases gold production and reduces costs; aims for 500,000 ounces per annum
The company achieved an EBITDA of $164 million and net profit after tax of $8 million in financial year 2019.
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').
212 stories · page 8 of 11
Perseus Mining and Gold Road tipped as outperformers
Macquarie Research has upgraded both Perseus and Gold Road to Outperform ratings after the investment bank upgraded its gold price forecasts.
Perseus Mining on track with development of third West African gold mine
First gold at the Yaouré project in Cote d’Ivoire is expected to be produced in December 2020.
Perseus Mining aims for half a million-ounce production with third mine after positive FY19 results
The company has also updated the overall estimated mineral resources and ore reserves for its West African gold mines.
Perseus Mining partner Manas Resources flags Mbengué results near Barrick’s Tongon mine
The farm-in partner can take up to 70% of the Cote d’lvoire project by funding activities.
Perseus Mining welcomes assays from Mako Gold’s Napié Project drilling program
Positive results from drilling completed to date increases Mako’s confidence for outlining a gold resource.
Perseus Mining Ltd welcomes ground geophysical results confirming IP anomalies at Mbengue
A further program of auger drilling is planned to follow up on these IP anomalies and should be conducted after the rainy season in October and November.
Perseus Mining hits 5-year high as gold continues to rise
The ASX gold sector continues to outperform as Perseus shares traded at levels not seen since August 2013.
Perseus Mining impresses the brokers with production growth and balance sheet strength
The company now has the balance sheet, margins and growth profile befitting a much better share price rating.
Perseus Mining has target price upped by Citi Research over bullish outlook
According to Citi, Perseus shouldn’t need to draw on its US$150 million credit facility to fund the development of its third gold mine, Yaouré.
Perseus Mining shares rise along with gold prices as margins and production grow
The company has secured funding to develop its third gold mine, Yaouré in Cote d’Ivoire.
Perseus Mining a low cost, well-funded gold producer: Hartleys
Incorporating higher base case gold price assumptions, Hartleys has upgraded its valuation to 86 cents per share and price target to 90 cents per share.
Mako Gold has news of capital raising shortfall upcoming and is in a trading halt
A 1 for 4 non-renounceable entitlement offer raised $409,745 with a $1.114 million shortfall.
Perseus Mining’s price target raised by Canaccord Genuity after exceeding gold production target
The global capital markets group has retained its buy rating for Perseus and has increased the price target to $1.05 from $1.00.
Mako Gold on track to earn up to 75% of Côte d’Ivoire gold permit
The company has a portfolio of gold projects in Cote d’lvoire and Burkina Faso in the gold-bearing west African Birmian greenstone belt which hosts more than 60 1-million-ounce gold deposits.
Mako Gold completes extended Napié gold drilling program before rain sets in
The company expects to receive assays from the 4,141-metre reverse circulation program in the coming weeks.
Perseus Mining signs for US$150 million cash facility, Yaouré Gold Mine development ongoing
The funding will in part go towards developing Yaouré, which is expected to become a large-scale, low-cost gold mining operation.
Mako Gold advances along a gold-paved road in West Africa
The company closed a one for four non-renounceable entitlement offer on June 25, 2019, with acceptances received from 102 shareholders raising $409,745.
Exore Resources intersects shallow high-grade gold in third identified target area within Cote d’Ivoire Gold Projects
The company now has a third large area prospective for gold after high-grade assays were previously reported at the Antoinette and Veronique prospects within its Bagoe project.
Perseus Mining has new substantial shareholder in New York-based Van Eck Associates
The investment manager has a 5.04% stake in the West African gold producer and holds almost 59 million shares.