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PRU - PERSEUS MINING LIMITED


mminion

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PRU quarterly just came out today.... some problems at Edikan and new overdraft of $100 m has spooked the market... lucky I bailed on this one yesterdaygood company though and plans for major production increase when Yaoure comes on line..... 22% hedging etc etc, but standing aside for now

 

 

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* QUARTERLY GOLD SALES INCREASED 31% TO 87,215 OUNCES

 

* AISC FOR QUARTER WAS US$999 PER OUNCE

 

* ON TRACK TO ACHIEVE GOAL OF PRODUCING MORE THAN 500,000 OUNCES OF GOLD PER YEAR

 

* GOLD PRODUCTION AND AISC MARKET GUIDANCE FOR JUNE 2021 HALF YEAR REMAINS UNCHANGED

 

 

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Perseus Mining (ASX: PRU) was another mid level gold miner to make guidance in the year to June.

The company said in its quarterly report that it achieved the upper half of its market guidance with the production of 494,014 ounces of gold for the June 30 year.

June half Year production of 252,850 ounces included 122,327 ounces of gold produced during the June quarter.

2021-22 financial year gold sales reached 481,075 ounces at an average price of $US1,683 per ounce.

Perseus said the weighted average AISC of $US952 an ounce for the June 30 financial was “in the bottom quartile of the market guidance range.”

AISC for the June 2022 half and quarter of $US955 and $US1,004 an ounce respectively, both within market expectations.

Perseus said its financial position continues to strengthen with available cash and bullion of $US328 million, debt of $US50 million, and net cash of $US278 million at June 30, $US50 million more than at the end of the March quarter.

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