PRU - Perseus Mining

[mullokintyre]

Perseaus getting some (free?) publicity courtesy of interview with Geoff Quqtermaine.

Mick

 

[mullokintyre]

Perseus going to have an investor webinar with the quarterly results.
They are unlikely to do this unless they have good sales pitch to offer.
Given the high price of gold in AUD, I expect them to have generated some pretty good free cash flow.
With that free cash flow, they may well spend more on PDI to bring to just below the 20% compulsory takeover point.
With Blackrock at 15% and T. Rowe price at 6% they would be nearly half way to majority takeover.
If the Annual is good enough to boost the shares to over 2.70, I will sell what I have left and put the proceeds into PDI.
Mick

 

[mullokintyre]

Sold the last of my PRU at 2.71.
Been a great ride, but think there is not a lot of wind left in this one.
Been a great ride though, and I would like to tanks PRU greatly.
Mick

 

[Sean K]

FID for Tanzania. Only taken a year, which isn't bad. Especially when they've changed the mining plan from ORE's.

Surprised they haven't jumped on PDI since they got the environmental clearance. Wouldn't have got that if they weren't going to get the EP and excise from the NP. Maybe Lundin and the Chinese have thrown a spanner in the works, or this has been more important to focus on.

 

[ScottfromNZ]

I see in NWR news that PRU is going into the ASX100. This may attract more institutional interest.

 

[Sean K]

I see in NWR news that PRU is going into the ASX100. This may attract more institutional interest.

Yes, should do. Not sure how many funds just stick to the ASX100, the ASX 200 was probably the biggie.

I thought they would have moved on PDI by now which would have changed their 5 year outlook considerably. I reckon Bankan will be delivering 250K oz pa once in operation. PRU certainly have the balance sheet and experience to mop it up. Maybe they're waiting for the Exploitation Permit which is critical.

Hopefully Tanzania comes on line as scheduled to deliver their 500K pa plan.

 

[mullokintyre]

Yes, should do. Not sure how many funds just stick to the ASX100, the ASX 200 was probably the biggie.

I thought they would have moved on PDI by now which would have changed their 5 year outlook considerably. I reckon Bankan will be delivering 250K oz pa once in operation. PRU certainly have the balance sheet and experience to mop it up. Maybe they're waiting for the Exploitation Permit which is critical.

Hopefully Tanzania comes on line as scheduled to deliver their 500K pa plan.


View attachment 201449

The problem is, that for two yeas out of the five, production drops off ny 70k ounces.
The AISC is also going up.
Lots of CAPEX, but then they have nearly 1bill of funds to achieve that capex spend.

Still happy to be out, though may revist in two years time.
Mick

 

[frugal.rock]

Quartermaine ends long reign as Perseus chief

The long-serving chief executive of Perseus Mining, who transformed the ‘struggling’ Subiaco outfit into an African gold mining powerhouse, is stepping down from the top job.

thewest.com.au

 

[Sean K]

Quartermaine ends long reign as Perseus chief

The long-serving chief executive of Perseus Mining, who transformed the ‘struggling’ Subiaco outfit into an African gold mining powerhouse, is stepping down from the top job.

thewest.com.au

Maybe his K&R insurance has expired and he can't get another policy cut. Amazing he's lasted 12 years.