While Credit Suisse has noted a soft quarter for Perseus Mining, the company reported record quarterly production despite challenges at Edikan. Edikan's production of 32,000 ounces marked a -18% miss on forecast.

Edikan productivity was reportedly impacted by equipment availability, driving the result. Production of 65,000 ounces at Yaoure, which contributed 85% of group cash flow, provided offset.

Outperform maintained. Target is raised to $1.90 from $1.60.

Sector: Materials.

Target price is $1.90.Current Price is $1.63. Difference: $0.27 - (brackets indicate current price is over target). If PRU meets the Credit Suisse target it will return approximately 14% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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