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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$2227.74M which is a rise of roughly 23% over the last six months. As of 12/05/2023 they have no debt and ~C$535.81M 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 $2,227.74M 12/05/2023 $418.24M
Total Assets: $1,772.80M $1,763.99M 12/05/2023 $-8.81M
Total Liabilities: $1,551.20M $1,543.49M 12/05/2023 $-7.71M
Current Assets: $715.77M $712.21M 12/05/2023 $-3.56M
Current Liabilities: $127.05M $126.42M 12/05/2023 $-0.63M
Total Debt: $0.00M $0.00M 12/05/2023 $0.00M
Cash: $538.49M $535.81M 12/05/2023 $-2.68M
Enterprise Value: $1,271.01M $1,691.93M 08/13/2023 $420.92M
Cash Flow: $391.51M $570.25M never $178.74M
Cash Flow Multiple: 4.62 3.91 never -0.72
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) 
38,085,206
01/24/2024 -6,264,570
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 -23.54M
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 -20.01M
Maximum Profit (Gold): $2,177.11M $3,392.99M n/a $1,215.88M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $2,177.11M $3,392.99M n/a $1,215.88M
Max Profit / Current MCap: 1.203 1.523 n/a 0.320
Max Profit Per Share (Gold): $1.57 $2.45 n/a $0.88
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $1.57 $2.45 n/a $0.88
Total Free Profit Per Share: $0.00 $0.26 n/a $0.26
FD MCap / Gold Eq.: $608.23 $748.82 n/a $140.59
FD MCap / Silver Eq.: $7.34 $9.83 n/a $2.49
FD MCap / Per Metal
as % Spot Price:
29.94% 30.68% n/a 0.75%
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 -67.26M
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 -49.74M
Maximum Profit (Gold): $5,411.66M $8,434.00M n/a $3,022.34M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $5,411.66M $8,434.00M n/a $3,022.34M
Max Profit / Current MCap: 2.991 3.786 n/a 0.795
Max Profit Per Share (Gold): $3.91 $6.09 n/a $2.18
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $3.91 $6.09 n/a $2.18
Total Free Profit Per Share: $2.14 $3.90 n/a $1.76
FD MCap / Gold Eq.: $244.69 $301.25 n/a $56.56
FD MCap / Silver Eq.: $2.95 $3.95 n/a $1.00
FD MCap / Per Metal
as % Spot Price:
12.04% 12.34% n/a 0.30%

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 -80.72M
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 -55.46M
Maximum Profit (Gold): $6,033.69M $9,403.42M n/a $3,369.73M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $6,033.69M $9,403.42M n/a $3,369.73M
Max Profit / Current MCap: 3.334 4.221 n/a 0.887
Max Profit Per Share (Gold): $4.36 $6.79 n/a $2.43
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $4.36 $6.79 n/a $2.43
Total Free Profit Per Share: $2.59 $4.60 n/a $2.01
FD MCap / Gold Eq.: $219.47 $270.19 n/a $50.73
FD MCap / Silver Eq.: $2.65 $3.55 n/a $0.90
FD MCap / Per Metal
as % Spot Price:
10.80% 11.07% n/a 0.27%

Future Valuation (Cash Flow & Totals)

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