Proactive Investors - Run By Investors For Investors

Perseus Mining has potential underwriting news imminent, granted trading halt

The trading halt will remain in place until an announcement is made or the beginning of ASX trading on Monday, April 15, 2019.
Perseus Mining has potential underwriting news imminent, granted trading halt
The company's full quarterly report will be released on April 16, 2019

Perseus Mining Limited (ASX:PRU) is in a trading halt pending an announcement regarding the potential underwriting of warrants expiring on April 19, 2019.

The company, which has operating gold projects in West Africa, expects to announce the details of the underwriting before or on April 15, 2019, and is not aware of any reason why a trading halt should not be granted.

Perseus securities last traded at 48.5 cents.

READ: Perseus Mining receives commitment for US$150 million debt facility to fund third gold mine

Earlier this month, the company accepted a Committed Letter of Offer from three leading international banks to provide a US$150 million corporate debt facility to develop its third gold mine, the Yaoure Gold Mine in Cote d’lvoire, at an estimated cost of US$265 million.

Perseus managing director and CEO Jeff Quartermaine said: “The agreement on the terms of the debt facility with our banking syndicate was a critical step that needed to be completed to enable the development of the Yaoure Gold Mine.

“Perseus acquired Amara Mining plc in April 2016 with the specific object of developing Yaoure which was then considered one of the best undeveloped gold resources in West Africa.

“Since acquiring the project, our technical teams have validated our original belief and methodically created a compelling commercial case to develop the gold mine.”

READ: Perseus Mining March quarter production has it on track to meet guidance

The company met its expectation during the March quarter with gold production from its two West African mines, Edikan and Sissingue, of 67,144 ounces, 5% more than in the corresponding 2018 quarter.

This comprised 44,680 ounces from the Edikan mine in Ghana and 22,464 ounces of gold from the Sissingue mine in Cote d’lvoire.

View full PRU profile View Profile

Perseus Mining Ltd Timeline

Related Articles

1542878130_copper-periodic-table-2.jpg
November 22 2018
Lucky Minerals holds a large swathe of land in highly prospective but largely unexplored area
Underground mining in action
January 18 2019
The company has exploration upside both at its copper operations and at its Torrens Project.
Diammonium phosphate fertiliser produced from Ammaroo ore
April 01 2019
If shareholders agree, the natural resources fund may take over a lion’s share of VRM this quarter then delist the entity.
Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use