logo-loader
viewPerseus Mining Ltd

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.

1554960560_ASX1_757.jpg
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.

Quick facts: Perseus Mining Ltd

Price: 0.76 AUD

ASX:PRU
Market: ASX
Market Cap: $887.67 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Perseus Mining Ltd named herein, including the promotion by the Company of Perseus Mining Ltd in any Content on the Site, the Company receives...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Perseus Mining reports 'another excellent quarter' with production up and...

Perseus Mining Ltd's (ASX:PRU) (TSE:PRU) (FRA:P4Q) (OTCMKTS:PMNXF) Jeff Quartermaine tells Proactive it's been 'another excellent quarter' for the group. "Production's up about 3% and costs down about 7% quarter on quarter. "This is the 11th consecutive quarter that we've produced very...

2 days, 5 hours ago

RNS

Notification of major holdings

9 hours, 46 minutes ago

Holding(s) in Company

9 hours, 49 minutes ago

Holding(s) in Company

9 hours, 53 minutes ago

TR1 re Prudential Demerge #2

9 hours, 58 minutes ago

Holding(s) in Company

10 hours, 6 minutes ago

Holding(s) in Company

10 hours, 11 minutes ago

Holding(s) in Company

10 hours, 15 minutes ago

Holding(s) in Company

10 hours, 17 minutes ago

2 min read