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Perseus Mining Ltd

www: www.perseusmining.com   email: info@perseusmining.com
Category: Mid-tier Producer
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Symbol Data

Symbol Currency
TSE:PRU CAD
ASX:PRU AUD
OTCMKTS:PMNXF USD

Description

Perseus Mining Ltd are a gold focused mid-tier producer with three producing mines in Cote d'Ivoire and Ghana, two mines in development in Cote d'Ivoire and exploration properties. Currently they produce roughly 500koz. of gold per year. They have approximately 12Moz. of gold in the reserves and resources category of which 10Moz. are in the measured and indicated category. They have a market capitalisation of ~C$2226.85M which is a rise of roughly 23% over the last six months. As of 12/05/2023 they have no debt and ~C$535.6M cash. They have 1,374M shares outstanding and trade on the Toronto Stock Exchange, the Australian Stock Exchange and the over-the-counter markets.

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General Details

Financial 12/05/2023
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
MCap (FD): $1,809.50M $2,226.85M 12/05/2023 $417.35M
Total Assets: $1,772.80M $1,763.28M 12/05/2023 $-9.52M
Total Liabilities: $1,551.20M $1,542.87M 12/05/2023 $-8.33M
Current Assets: $715.77M $711.92M 12/05/2023 $-3.84M
Current Liabilities: $127.05M $126.37M 12/05/2023 $-0.68M
Total Debt: $0.00M $0.00M 12/05/2023 $0.00M
Cash: $538.49M $535.60M 12/05/2023 $-2.89M
Enterprise Value: $1,271.01M $1,691.25M 08/05/2023 $420.24M
Cash Flow: $391.51M $557.25M never $165.74M
Cash Flow Multiple: 4.62 4.00 never -0.63
Net Debt to
Cash Flow Ratio:
n/a n/a never 0.00
Finance within 1 year: 12/05/2023 n/a
Misc 12/05/2023
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Shares Outstanding: 1,374,000,000 1,374,000,000 12/05/2023 0
Shares (FD): 1,384,000,000 1,384,000,000 12/05/2023 0
Insider Ownership: n/a n/a never n/a
Dividend (Annual): n/a 1.8% 03/25/2024 1.8%
Company Type: Mostly Gold Mostly Gold never n/a
Production ETA: n/a n/a 12/05/2023 n/a
Production (Gold Eq Oz.): (guess) 
535,000
(guess) 
500,000
01/24/2024 -35,000
Production (Silver Eq Oz.): (guess) 
44,349,776
(guess) 
38,374,126
01/24/2024 -5,975,650
Initial CapEx (Outstanding): n/a n/a 12/05/2023 n/a
Funding Option: n/a n/a 12/05/2023 n/a
Documentation: none PRODUCER 03/25/2024 n/a
Future MCap Modifier: 0.25
Producer: Quality
0.25
Producer: Quality
12/04/2023 0
Cash Flow Multiplier: 12 12 12/04/2023 0.00

Resource Data

GOLD 12/05/2023
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: 3.50M 3.50M 12/05/2023 0.00M
Measured & Indicated: 10.00M 10.00M 12/05/2023 0.00M
Inferred: 2.00M 2.00M 12/05/2023 0.00M
Reserves & Resources: 12.00M 12.00M never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: 2.98M 2.98M 12/05/2023 0.00M
Measured & Indicated: 7.40M 7.40M 12/05/2023 0.00M
Inferred: 0.85M 0.85M 12/05/2023 0.00M
Reserves & Resources: 8.25M 8.25M never 0.00M
C
U
R
R
E
N
T
Annual Production: (guess) 
535,000oz.
(guess) 
500,000oz.
01/24/2024 -35,000oz.
Cash Cost: $850 $850 12/05/2023 $0.00
Extra Operating Cost: $450 $450 12/05/2023 $0.00
G
R
A
D
E
Underground (Avg): 1.50 g/t n/a 03/24/2024 n/a
Open Pit (Avg): n/a 1.40 g/t 03/24/2024 1.40 g/t
Recovery Rate: (CG)  85.00% (CG)  85.00% 03/25/2024 0.00%
F
U
T
U
R
E
Proven & Probable: 10.00M 10.00M 12/05/2023 0.00M
Annual Production: 600,000oz. 600,000oz. 12/05/2023 0oz.
Cash Cost: $950 $950 12/05/2023 $0
Extra Operating Cost: $450 $450 12/05/2023 $0
SILVER 12/05/2023
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: n/a n/a 12/05/2023 0.00M
Measured & Indicated: n/a n/a 12/05/2023 0.00M
Inferred: n/a n/a 12/05/2023 0.00M
Reserves & Resources: n/a n/a never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: n/a n/a 12/05/2023 0.00M
Measured & Indicated: n/a n/a 12/05/2023 0.00M
Inferred: n/a n/a 12/05/2023 0.00M
Reserves & Resources: n/a n/a never 0.00M
C
U
R
R
E
N
T
Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 12/05/2023 $0.00
Extra Operating Cost: n/a n/a 12/05/2023 $0.00
G
R
A
D
E
Underground (Avg): n/a n/a 12/05/2023 n/a
Open Pit (Avg): n/a n/a 12/05/2023 n/a
Recovery Rate: n/a n/a 12/05/2023 0.00%
F
U
T
U
R
E
Proven & Probable: n/a n/a 12/05/2023 0.00M
Annual Production: n/a n/a 12/05/2023 n/a
Cash Cost: n/a n/a 12/05/2023 n/a
Extra Operating Cost: n/a n/a 12/05/2023 n/a

Property

Last Analysis Data  (12/05/2023)
Stage Name Owned Au Ag Cu Notes
Prod Angovia 90% n/a
Prod Sissinggue 100% show
800,000 oz open pit.

Producing.
Dev Tengrela 80% show
Large exploration property.
Dev Yaoure 100% show
3.5 million oz (1.5 gp) deposit.
$260 million capex.
$750 per oz cash costs.
Exp Bagoe Project 100% show
Early exploration.
Exp Liberty Project 100% show
Early exploration.
Prod Edikan 90% show
Main producing mine. 200,000 oz per year.
Exp Grumesa 90% n/a
Exp Block 14 70% show
250,000 acres.

Block 14 includes Galat Sufar, their first potential mine.

Galat is a 3 million deposit at 1.8 gpt.
Exp Block 67 70% n/a
Exp Block 68 100% n/a
Total Land Package Size (ha): 163,000  
Current Data
Stage Name Owned Au Ag Cu Notes
Prod Angovia 90% n/a
Prod Sissinggue 100% show
800,000 oz open pit.

Producing.
Dev Tengrela 80% show
Large exploration property.
Dev Yaoure 100% show
3.5 million oz (1.5 gp) deposit.
$260 million capex.
$750 per oz cash costs.
Exp Bagoe Project 100% show
Early exploration.
Exp Liberty Project 100% show
Early exploration.
Prod Edikan 90% show
Main producing mine. 200,000 oz per year.
Exp Grumesa 90% n/a
Exp Block 14 70% show
250,000 acres.

Block 14 includes Galat Sufar, their first potential mine.

Galat is a 3 million deposit at 1.8 gpt.
Exp Block 67 70% n/a
Exp Block 68 100% n/a
Exp Nyanzaga 84% show
3 million oz high-grade open pit.

DFS released in 2022.
Construction planned for 2024.
Production 2025.

Tanzania Govt 16% ownership free carried.
Total Land Package Size (ha): 165,300  

Profitability (by resource)

Proven &
Probable
12/05/2023
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 3.50M 3.50M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -21.52M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 2.98M 2.98M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -18.29M
Maximum Profit (Gold): $2,177.11M $3,315.64M n/a $1,138.53M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $2,177.11M $3,315.64M n/a $1,138.53M
Max Profit / Current MCap: 1.203 1.489 n/a 0.286
Max Profit Per Share (Gold): $1.57 $2.40 n/a $0.82
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $1.57 $2.40 n/a $0.82
Total Free Profit Per Share: $0.00 $0.21 n/a $0.21
FD MCap / Gold Eq.: $608.23 $748.52 n/a $140.29
FD MCap / Silver Eq.: $7.34 $9.75 n/a $2.42
FD MCap / Per Metal
as % Spot Price:
29.94% 31.00% n/a 1.07%
Measured &
Indicated
12/05/2023
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 10.00M 10.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -61.49M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 7.40M 7.40M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -45.47M
Maximum Profit (Gold): $5,411.66M $8,241.73M n/a $2,830.07M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $5,411.66M $8,241.73M n/a $2,830.07M
Max Profit / Current MCap: 2.991 3.701 n/a 0.710
Max Profit Per Share (Gold): $3.91 $5.96 n/a $2.04
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $3.91 $5.96 n/a $2.04
Total Free Profit Per Share: $2.14 $3.77 n/a $1.62
FD MCap / Gold Eq.: $244.69 $301.13 n/a $56.44
FD MCap / Silver Eq.: $2.95 $3.92 n/a $0.97
FD MCap / Per Metal
as % Spot Price:
12.04% 12.47% n/a 0.43%

Reserves &
Resources
12/05/2023
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 12.00M 12.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -73.78M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 8.25M 8.25M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -50.69M
Maximum Profit (Gold): $6,033.69M $9,189.05M n/a $3,155.36M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $6,033.69M $9,189.05M n/a $3,155.36M
Max Profit / Current MCap: 3.334 4.126 n/a 0.792
Max Profit Per Share (Gold): $4.36 $6.64 n/a $2.28
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $4.36 $6.64 n/a $2.28
Total Free Profit Per Share: $2.59 $4.45 n/a $1.86
FD MCap / Gold Eq.: $219.47 $270.08 n/a $50.62
FD MCap / Silver Eq.: $2.65 $3.52 n/a $0.87
FD MCap / Per Metal
as % Spot Price:
10.80% 11.19% n/a 0.38%

Future Valuation (Cash Flow & Totals)

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