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.