Perseus Mining Limited

( ASX:PRU ) - Materials


Perseus Renews Focus On Sissingue, Yaoure

Perseus Mining (PRU) is making progress in regaining investor confidence as it turns its focus to the development of Sissingue, and Yaoure beyond, to mitigate the disappointment with the Edikan gold mine in Ghana. The company has made no changes to its FY17 guidance for 205-245,000 ozs at cash costs of US$1,110-1,325/oz.

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Perseus’ Achilles Heel Revealed

Gold stocks that were strong performers have joined the lists of those struggling to find the right balance in production and development in a quickly changing landscape. Perseus Mining (PRU), with interests in West Africa, is a case in point. The company has delivered production guidance for FY14 that is significantly below expectations and the much vaunted Sissingue project is now on ice.

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Analyst Views

PRU – Citi rates the stock as Buy

Perseus Mining has, in the opinion of analysts at Citi, released a "solid" March quarter production report. Gold output was pretty stable, while costs (AISC) fell by no less than -19%. A financing agreement for the development of Yaoure further supports the analysts' growing optimism.

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