Perseus Mining Ord Shs T.PRU

Alternate Symbol(s): PMNXF

Metals & Mining Gold

Perseus Mining Limited is an Australia-based gold producer, developer, and explorer. The Company also conducts mineral exploration and evaluation activities in Africa. It operates three gold mines in Africa: Edikan in Ghana and Sissingue and Yaoure in Cote d'Ivoire and owns the Meyas Sand Gold Project in Sudan. Edikan Gold Mine is a large-scale, low-grade multi open-pit operation located in the Central Region of Ghana, approximately 45 kilometers southwest of the regional town of Obuasi. The Sissingue is located in northern Cote d'Ivoire and lies within the Sissingue exploitation permit that covers an area of over 446 square kilometers, bounded on one side by the international border between Cote d’Ivoire and Mali. Yaoure is located in central Cote d'Ivoire, over 40 kilometers northwest of Yamoussoukro, the political capital, and over 270 kilometers northwest of Abidjan, the economic capital of Cote d'Ivoire. It also operates Nyanzaga Gold Project, located in north-western Tanzania.

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Perseus Mining Ord Shs

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Comment by metylman2000on Aug 28, 2011 2:03pm

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Post# 18987448

RE: RE: $4.00 Horizon....

hedged to Macquarie & Credit Suisse.....
230,000 oz total over 36 months (thru Dec 2014) at $1250....
this represents 25% of CAGP production....
I'm not a fan of hedging either, but PRU didn't have much of a choice....
money had to come from somewhere, and it's relatively benign amount, considering they are looking at $750/oz margin on those 230,000 oz.....
and they still have 75% of production at unhedged prices, which will most likely be used towards reducing overall financing needs at Tengrela....as I said, I'm no fan of hedging, but PRU's position currently looks very favorable...

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