logo-loader
viewPerseus Mining Ltd

Perseus Mining major shareholder Franklin Resources increases stake to nearly 10%

The gold producer expects to comfortably achieve its half-year guidance after a strong March quarter.

1555995323_ASX2.jpg
Perseus last traded at 45 cents a share

Perseus Mining Ltd (ASX:PRU) substantial shareholder Franklin Resources Inc has purchased nearly 20 million shares in the company, bringing its total holding to 102,490,902 shares.

The transaction leaves Franklin Resources with a 9.45% interest in Perseus, which includes nearly 1.1 million shares outstanding.

 

Perseus produced 67,144 ounces of gold in the March quarter at an all-in sustaining cost (AISC) of US$851 per ounce.

The majority of the gold was produced from the Edikan mine in Ghana and the rest from the Sissingué mine in Cote d’Ivoire.

Group gold production is on track to achieve the June 2019 half-year guidance of 130-150,000 ounces, as well as achieving cost guidance within an AISC range of US$850-$1,000 per ounce.

The company’s weighted average cash margin of US$433 per ounce during the quarter generated notional cash flow of US$29.1 million, more than double that of the prior quarter.

Cash and bullion on hand at March 31 amounts to US$80.8 million, which together with debt reductions to US$44.5 million puts Perseus in a net cash and bullion position of US$36.3 million.

Quick facts: Perseus Mining Ltd

Price: 1.235 AUD

ASX:PRU
Market: ASX
Market Cap: $1.44 billion
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 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...

5 days, 3 hours ago

2 min read