Value Microcaps Junior Miners

[Bobwins]

Perseus Mining PRU.to/PRU.ax/pmnxf +.05 to C$.355

Outstanding qtr from Perseus Mining. They have one operating gold mine in Ghana and a second mine about to begin construction. Earned A$.16 for fye 6/15. Huge cash position and gold inventories of A$127million vs A$200million market cap. No DEBT.

2015 results were boost by substantial foreign exchange gains of A$52million but they have more hedges that will give them a higher gold price in fye 6/16.

The one existing mine is in Ghana and has been experiencing power shortages from the national grid. Company is installing diesel backup generators to keep plant operating during blackouts.

Cash costs dropped dramatically in qtr ending 6/15. Not likely to keep that up as stripping will increase for the remainder of the year.

http://www.stockhouse.com/news/press-releases/2015/08/28/perseus-mining-limited-achieves-a-92-2-million-profit-for-fy2015