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  1. #1
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    Default Perseus Mining (PRU)

    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.

  2. #2
    Legend
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    Default

    Hi Junior80, sorry no-one replied, there must have been lots of good deals on the market about then...(with the benefit of hindsight) you should double or triple your money on this one, just wait until POG spikes..

  3. #3
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    Default

    Junior80, this stock would be well worth looking into,as it was also recommended by drillers and diggers researcher Alex Cowie who has a pretty good track record.

    There are invariably certain risks involved, which should be outlined by any research done by the recommending broker.

    This one is in the early stages, where you could double or triple your money
    but it still pays to be circumspect.

  4. #4
    F.A.B. Huang Chung's Avatar
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    Default

    You might find the comparison on page 7 of the attached PIR presentation of some interest. Prices would have moved around a bit by now, so DYOR.

    http://www.papillonresources.com.au/...on_Revised.pdf

  5. #5
    Veteran novice
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    I don't know about early stages.

    In terms of actually mining, yes, but I've been keeping half an eye on this for some time. About this time last year the SP was around 50c and for me it was a toss up between PRU and IGR. Unfortunately, I chose IGR, partly for the lesser sovereign risk in Australia - now there's a thought! - and since then IGR has gone nowhere.

    Management is highly regarded and really PRU doesn't seem to put a foot wrong.

  6. #6
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    An expert source tells me that PRU, at around 30c you get PRU for free as they have A$134.4 million cash and bullion and a hedge worth $A24.6 million. 149 ,ooo oz hedged at $1,241. Mkt cap re $166 million.

  7. #7
    Member penn's Avatar
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    Cool

    Quote Originally Posted by Joshuatree View Post
    An expert source tells me that PRU, at around 30c you get PRU for free as they have A$134.4 million cash and bullion and a hedge worth $A24.6 million. 149 ,ooo oz hedged at $1,241. Mkt cap re $166 million.
    I am sure your source has a name like 'Macquarie' (rather than some thing soft like 'Tomboy' or 'Penn'
    But that aside then this becomes a straight bet on the US Pog.

    GLTA IHANIWIATA


  8. #8
    IMO
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    Hee, no ;way better than Maq and co; a fellow investor and friend who can research and analyse like i never will .Doesn't post here unfort for some.
    Last edited by Joshuatree; 28-09-2015 at 08:40 PM.

  9. #9
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    Looks real solid, even though Im much of a fan of mining companies. Seems to have gone from a large loss to larger profit between financial years. Will the pay a dividend in the future?? didnt sound like it from the director report Surely with the costs of around 880 an ounce they will be nearly as profitable come 2016. Why is the sp depressed, even the chart shows its been somewhat sideways for a while. Possibly the country they are working in? Would be interested on others thoughts

  10. #10
    FEAR n GREED JBmurc's Avatar
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    At this stage I'm very impressed with the look of PRU.. just take 10mins and have a hard look through the recent presentation http://www.perseusmining.com/aurora/...10815-Pres.pdf

    -- A "Gold Producer" (this sector is getting very HOT of late) ,, that has over 130mill+ in cash & bullion
    --- Nil Debt !!!
    -- EV of 90mill AUD ...less than fy15 net profit ...
    --Huge est forward Growth profile in Gold production -fy16=200koz fy17=270koz fy18=315koz fy19=345koz fy20=385koz fy21=345koz
    -Low cost profile forward est ongoing lower AISC >>>
    -2moz Gold RESERVE !

    I'd be very surprised with the above numbers that PRU wouldn't pay out divi's in the future

    disc -Holding and Buying more
    Last edited by JBmurc; 14-10-2015 at 09:48 PM.
    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

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