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Perseus Mining Ord Shs T.PRU

Alternate Symbol(s):  PMNXF

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.


TSX:PRU - Post by User

Bullboard Posts
Comment by Bobwinson Sep 02, 2015 7:16pm
128 Views
Post# 24073557

RE:RE:Cheapest, lowest Risk Gold Stock on TSX

RE:RE:Cheapest, lowest Risk Gold Stock on TSXI like Perseus and was amazed by their annual earnings.  It is ridiculously cheap and NO DEBT!!! I Can't emphasize the last point enough.  Debt is going to kill juniors because raising money is so hard and if they don't have enough cashflow, they are going to have a tough time surviving until the gold prices improve.  
 
Perseus is in a good position to thrive, especially if they can build the next mine with minimal fundraising and end up with two producing mines and no debt.

The one caution is the hedges.  Hedging is a two edged sword.  They earned a tremendous amount of money in 2015 due to their hedging BUT if the price of gold rises more than $100, the hedges will become a drag on earnings and kibitzers will be saying they shouldn't have hedged.  

Sooner or later, I do expect gold to move up substantially from it's current price so medium term, Perseus could suffer from the hedges.  But they are being conservative and ensuring their cashflow thru hedging until then.  

Bullboard Posts