I see no one has started a thread for this stock. Inside Trader has yesterday recommended to buy this stock.

Perseus Mining Limited is engaged in the mineral exploration and project development in West Africa and the Kyrgyz Republic in Central Asia. PRU has to main activities: investing and mineral exploration. The investing component is concerned with investing in equities, cash management and corporate management. Its mineral exploration component is engaged in exploration, predominantly for gold in West Africa and Central Asia. Its Central Ashanti Belt projects comprise 650 square km of tenements located from 30 kilometer south west and south east of the 60Moz Obuasi gold deposit. Perseus’s Ayanfuri project lies in the Central Ashanti region of the Country, some 320 km from the capital Accra and 107 km from the large port of Takoradi. It is located 25-65 km south-west of Obuasi, on the Ashanti Gold Belt. The Grumesa gold project is located 30 km east of the Ayanfuri gold project.

This stock is being monitored by 3 brokers who give it an average strong buy recommendation.

From their June 2009 Quarterly Activity Report:

Ayanfuri – Ghana
The Definitive Feasibility Study (“DFS”) has been completed and reported by the Company.
Highlights of the DFS included:
- 220,000ozpa production for the first four years
- Initial 10 year mine life
- EBITDA for first three years aggregate US$284M
- Payback period of 1 year 7 months at US$850 gold price
Significantly, only 2.5Moz of Measured & Indicated resources from three of the eight deposits with resources at Ayanfuri were considered for the estimation of the maiden 2.1Moz Proven and Probable Reserves. A Phase 2 feasibility study is now underway to incorporate the remaining 3.2Moz of resources with the view to increasing reserves, the mine life and the project economics

Tengrela - Ivory Coast
A total of 14,930m of RC and 10,222m of RAB drilling was completed at Tengrela in the June Quarter, primarily focussed on the Sissingue prospect, where extensive mineralisation has been encountered over a 4,000m long by 100m-800m wide area.
Significant results from drilling received to date included 42m at 3.6g/t, 8m at 13.2g/t, 8m at
12.2g/t, 10m at 6.9g/t, 4m at 15.6g/t, 26m at 2.7g/t, 2m at 27.5g/t and 6m at 7.8g/t Au. There are about 3,700 drill samples currently awaiting assay.

Corporate
During the quarter the Company completed a $75M capital raising through a share placement to Australian and North American institutions and sophisticated investors, and 1:10 rights issue to shareholders.


Wondering if someone can give their expert comments on what they think of this company. Do not hold at the moment.