Frequently Asked Questions
What is Perseus Mining’s strategy for increasing shareholder value?
Our target is to have two mines operating in West Africa in 2013. We are working towards producing more than 250,000 ounces of gold per annum from the first mine, Edikan, which started in production in 2011 and entered commercial production in January 2012.
How far is Perseus away from production?
Our Edikan Gold Mine (EGM) (formerly Central Ashanti Gold project), located in Ghana, started commissioning in August 2011 and transitioned to commercial production in January 2012. A definitive feasibility study (DFS) in 2009 confirmed robust economics with cash and capital costs for stage one expected to total about US$600 an ounce.
The DFS on our second project, Sissingué in the Ivory Coast, has showed robust economics as well as the upside potential that exists from ongoing resource definition drilling. Our aim is to be producing in 2013.
Will Perseus keep exploring for gold?
We will continue with our aggressive exploration programs following first gold pour. In 2012 we will have up to seven drill rigs on the EGM and up to five rigs operating at Tengrela. Our aim is to complete 250,000m of drilling in 2012 to significantly increase resources and convert existing resources to reserves.
What is Perseus’ financial position?
Our market cap at A$2.90 is A$1.33 billion and at June 30 2012 we had A$107 million in cash.
Who are Perseus’ major shareholders?
Canadian Control 38.23%
HSBC Custody Nominees (Australia) Ltd 15.09%
National Nominees Ltd 12.33%
JP Morgan Nominees Australia Ltd 9.98%
Citicorp Nominees Pty Ltd 5.34%
When did Perseus start trading?
We listed on the Australian Securities Exchange (ASX) in September 2004. In February 2010, we listed on the Toronto Stock Exchange (TSX).
Why did Perseus list on the TSX?
The TSX is the world’s number one stock exchange for mining companies and we believe listing in Toronto will attract wider analyst coverage in the North American market. Our peers, Iamgold and Centamin, are both listed on TSX.
