Perseus Mining: FY24 outlook, OreCorp acquisition and organic growth plans

Tue 26 Mar 24, 03:46 AM | Team Kalkine

Image source: Phawat, Shutterstock

Highlights

Perseus Mining is a gold mining and exploration company which operates three mines in West Africa

In 1HFY24, the company reported 10% YoY jump in revenue and 20% YoY increase in profit after tax

Van Eck Associates Corporation has the highest stake in the company with the shareholding of nearly 9.92%

Perseus Mining Limited (ASX: PRU) is an ASX-listed company that operates as a gold mining and exploration company. Headquartered in Perth, Western Australia, Perseus Mining has a portfolio of three mines, located in West Africa. The multi-mine, multi-jurisdictional gold-focused company is also involved in conducting mineral evaluation and exploration activities in the region.

In the first half of the financial year 2024 (1HFY24), the company achieved its market guidance as gold production stood at 261,577 ounces, while gold sales stood at 251,091 ounces. In 1HFY24, revenue increased by 10% YoY to USD 489 million, profit after tax grew by 20% YoY to USD 164.7 million and operating ash flow surged by 2% YoY to USD 211.2 million.

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