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Perseus Mining registers golden half-year with net profit after tax up 193%

Perseus Mining Limited (ASX:PRU) (TSE:PRU) (OTCMKTS:PMNXF) CEO and managing director Jeff Quartermaine updates Proactive on the West African gold producer’s strong half yearly performance.

The company produced almost 135,000 ounces of gold at around US$942 an ounce resulting in the generation of net profit after tax of A$30.4 million, up 193% period-on-period relative to December half-year of 2018.

Quartermaine says this big improvement was largely driven by a reduction in the cost base and higher gold prices, which compensated for a slight decrease in production after the implementation of an optimised mine plan at the Edikan mine.

He also discusses updated reserves and resources at the Edikan operation in Ghana.

Quick facts: Perseus Mining Ltd

Price: 1.41 AUD

ASX:PRU
Market: ASX
Market Cap: $1.73 billion
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Perseus Mining reports "outstanding" year in FY20 with EBITDA up 67%

Perseus Mining Limited (ASX:PRU) (TSE:PRU) (OTCMKTS:PMNXF) has returned financial results described as "outstanding" in the 2020 financial year with EBITDA of $274 million, which was 67% higher than the previous year. Managing director and CEO Jeff Quartermaine told Proactive that it had been...

on 25/8/20

2 min read