Perseus Mining Limited (PMNXF)

[Vegas Matt]

Perseus Mining's September-Quarter Was Pretty Strong And Boosted The Working Capital Position
Nov. 28, 2015 1:05 AM ET | About: Perseus Mining Ltd (PMNXF)
Disclosure: I am/we are long PMNXF. (More...)
Summary

Perseus Mining had an exceptionally strong quarter on the back of a good production result and selling gold at a 10% premium.

This allowed the company to generate a positive free cash flow and add cash to the balance sheet, despite spending money at Sissingué.

The performance will weaken though, as the average hedge price of the gold is roughly 5% lower.

The company remains in an enviable position as its working capital is now approximately equal to its market capitalization.
Introduction

Seeking Alpha readers who have been following me and my articles for quite a while will undoubtedly know I have become cautiously optimistic about Perseus Mining (OTCPK:PMNXF) which is operating the Edikan gold mine in Ghana. The company has turned a corner and after several years of overpromising and underdelivering, the times have changed and the mine is now free cash flow positive. For now.

http://seekingalpha.com/article/3717376-perseus-minings-september-quarter-was-pretty-strong-and-boosted-the-working-capital-position?auth_param=6ojk:1b5ikit:998df34bb86b1a9dc933e3673929dd1f&uprof=45