Perseus' share placement draws the crowds
PERTH (miningweekly.com) – Dual-listed gold miner Perseus Mining has raised A$32-million in a share placement to institutional and sophisticated investors.
The ASX- and TSX-listed miner reported on Tuesday that it had placed about 68.7-million shares, or 15% of its existing capital, at a price of A$0.47 each to raise the funds.
The placement price represented a 6.9% discount to the last closing price of Perseus shares on the ASX, and a 2.3% discount to the five-day volume weighted average price of the company’s shares, up until February 14.
Perseus told shareholders that the proceeds from the placement would be used to accelerate productivity improvements and to access the eastern pits at its Edikan gold mine, in Ghana, and to provide balance sheet flexibility.
“The placement will help provide us with balance sheet strength, keeping us debt free as we continue to implement the re-optimised Edikan life-of-mine plan focused on maximising cash margins, increasing gold production, reducing unit costs and ensuring efficient capital deployment,” said CEO and MD Jeff Quartermaine.
He noted that during the three months to December, Perseus produced about 48 400 oz of gold from the Edikan mine, at an all-in unit cost of $1 228/oz, which was 8.5% lower than the previous quarter.
Earlier this month, the miner reported an after-tax net loss of A$4-million for the six months to December, compared with a net profit of A$32.4-million in the previous corresponding period.
Revenue for the interim period reached A$135.2-million, from the sale of 93 686 oz, compared with the A$147-million generated in revenue during the 2012 half-year.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation