PRU perseus mining limited

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    Perseus Mining’s second operating gold mine in West Africa has reached the cashflow positive mark earlier than expected.
    Perseus (ASXRU) told investors its Sissingué mine in Ivory Coast was cashflow positive at the end of March.
    Investors welcomed the news, pushing shares up as much as 5.4 per cent to 49c just before midday AEST Tuesday.
    Reaching commercial production at Sissingué “materially reduces our reliance on our Edikan mine in Ghana for cash generation,” managing director Jeff Quartermaine told investors.
    Perseus says it is on track to achieve its production target of 140,000 to 160,000 ounces for the half-year and 250,000 to 285,000 ounces for the full 2018 financial year.
    Cash flows from the Edikan mine in Ghana and the Sissingué mine will partially fund the development of the company’s third gold mine, Yaouré. Development is scheduled to begin later this year.
    https://do not advertise external links/wp-content/uploads/2018/04/PRU-shares.jpg
    PRU shares over the past six months.
    Perseus is aiming to eventually produce 500,000 ounces of gold each year from the three operations.
    The company has been contacted for further comment.
 
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