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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: 0.925 AUD

ASX:PRU
Market: ASX
Market Cap: $1.08 billion
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Perseus Mining delivers another golden set of quarterly results

Perseus Mining Limited (ASX:PRU) (TSE:PRU) managing director and CEO Jeff Quartermaine updates Proactive on the company’s 12th successive impressive, gold-lined quarterly report. He said it was an excellent result with the two West African operations producing more than 69,000 ounces of gold...

on 15/1/20

2 min read