Perseus Mining Limited
Perseus Mining Limited (ASX Code: PRU) has forged a reputation as one of the world's most successful gold explorers. Focused on under-explored gold belts in West Africa, Perseus has identified significant large deposits in Ghana, and Ivory Coast and demonstrated a credible track record of resource growth.
The Company has total resources of 7 million ounces of gold (3.7Moz Indicated and 3.3Moz Inferred) and has identified in-pit gold resources of about 4.6Moz (at a gold price of US$850).
A detailed feasibility study for the ~200,000ozpa Ayanfuri Project is due for completion in July 2009. Gold production is targeted for 2011, followed in 2012 by a proposed ~100,000ozpa project at Tengrela in the Ivory Coast.
Among its investments, Perseus retains a 42% stake in Manas Resources Limited which it spun off in 2008 as a focused Kyrgyz Republic gold explorer and developer.
Vision
Perseus aims to continue expanding its gold resource base through rapid exploration of existing ground and acquisition of prospective new projects.
The Company plans to start its first mining operation in 2011, (subject to obtaining all approvals on a timely basis), and aims at having multiple gold mines operating in West Africa.
Mission
Perseus is a gold explorer focused on West Africa. It has plans to develop mines in Ghana and Ivory Coast and aims to discover new gold resources through innovative exploration.
