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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Perseus Mining Limited    PRU   AU000000PRU3

PERSEUS MINING LIMITED

(PRU)
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Perseus Mining Limited : - Exploration Success for Perseus in Cote d'Ivoire

04/08/2021 | 08:20am EDT

Perseus Mining Limited (ASX/TSX: PRU) is pleased to provide an update on its recent exploration activities at its Bagoe and Yaoure properties, both located in Cote d'Ivoire.

The results demonstrate the potential for the Company to organically grow its gold inventory through further drilling success.

Yaoure is Perseus's third gold mine, commencing production in December 2020. Recent exploration has focused on the drilling of satellite prospects within five kilometres of the Yaoure mill with the potential to deliver shallow oxide ore during the early stages of the project. Progress has also been made with the definition of drill targets from the 3D seismic survey completed in 2020, recently supplemented by the completion of an airborne gravity (FTGG) survey.

The Bagoe exploration licence, 60km south of Perseus's Sissingue Gold Mine, was acquired when Exore Resources Limited was acquired in September 2020 (ASX announcement 26th September 2020). Perseus's pre-acquisition evaluation of Exore's exploration work at Bagoe indicated potential for the economic exploitation of the Antoinette, Juliette and Veronique gold deposits by open pit mining and either processing in-situ or transporting ore to Sissingue for processing. Recent exploration drilling has fo cused on converting the previously defined Inferred Resources to Measured and Indicated Resources to support a DFS to confirm the technical and financial viability of the two development concepts.

Contact:

Nathan Ryan

Tel: +61 4 20 582 887

Email: nathan.ryan@nwrcommunications.com.au

Caution Regarding Forward Looking Information

This report contains forward-looking information which is based on the assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management of the Company believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Assumptions have been made by the Company regarding, among other things: the price of gold, continuing commercial production at the Edikan Gold Mine and the Sissingue Gold Mine and achieving commercial production at the Yaoure Gold Mine without any major disruption due to the COVID-19 pandemic or otherwise, the receipt of required governmental approvals, the accuracy of capital and operating cost estimates, the ability of the Company to operate in a safe, efficient and effective manner and the ability of the Company to obtain financing as and when required and on reasonable terms. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used by the Company. Although management believes that the assumptions made by the Company and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any anticipated future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, the actual market price of gold, the actual results of current exploration, the actual results of future exploration, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's publicly filed documents. The Company believes that the assumptions and expectations reflected in the forward-looking information are reasonable. Assumptions have been made regarding, among other things, the Company's ability to carry on its exploration and development activities, the timely receipt of required approvals, the price of gold, the ability of the Company to operate in a safe, efficient and effective manner and the ability of the Company to obtain financing as and when required and on reasonable terms. Readers should not place undue reliance on forward-looking information. Perseus does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2021 644 M 491 M 491 M
Net income 2021 90,9 M 69,3 M 69,3 M
Net Debt 2021 5,18 M 3,94 M 3,94 M
P/E ratio 2021 20,3x
Yield 2021 0,21%
Capitalization 1 490 M 1 136 M 1 136 M
EV / Sales 2021 2,32x
EV / Sales 2022 1,13x
Nbr of Employees 464
Free-Float 96,4%
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Number of Analysts 4
Average target price 1,56 AUD
Last Close Price 1,22 AUD
Spread / Highest target 60,5%
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Jeffrey Allan Quartermaine Chief Executive Officer, Executive Director & MD
Lee-Anne de bruin Chief Financial Officer
Terence Sean Harvey Non-Executive Chairman
Paul Thompson Group General Manager-Technical Services
Christopher Woodall Chief Operating Officer
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