Perseus Mining Limited (ASX/TSX: PRU) is pleased to announce a record profit after tax (“PAT”) of A$92.2 million, or 16.7 cents per share, for the 2015 Financial Year (“FY2015”). This PAT represents an increase of A$124.2m, or 288%, on the FY2014 result.
Perseus Mining achieves A$92.2 million profit for FY2015
West African focussed gold producer, Perseus Mining Limited (ASX/TSX: PRU) is pleased to announce a record profit after tax (“PAT”) of A$92.2 million, or 16.7 cents per share, for the 2015 Financial Year (“FY2015”). This PAT represents an increase of A$124.2m, or 288%, on the FY2014 result.
Highlights of the 2015 Financial Year results include:
26% increase in revenue
10% decrease in expenses
Foreign exchange (FX) gain of $52.4M
Cash balance of A$103.7M, or 19.7cps – A$66.8M (181%) more than FY2014
Combined value of cash and bullion of A$127.3M, or 24.2cps at the end of FY2015 – up A$78.6M or 61% on FY2014
Working capital of A$177.6M – an increase of A$108.3M, or 157%, on FY2014
No third party debt.
At an operational level, Perseus’s Edikan Gold Mine in Ghana performed strongly during FY2015, recording material performance improvements, including:
Gold production increased 17% to 212,000 ounces
All In Site Costs decreased 32% to US$877/oz
Average sale price of gold steady at US$1,324/oz
Managing Director Jeff Quartermaine Comments:
“Our team has worked very hard to improve the operating performance at our Edikan Gold Mine and this is reflected in the strong financial results published today. Favourable foreign exchange movements have certainly improved the result in A$ terms but significant cost savings and productivity gains underpin the performance as does a prudent approach to gold price risk management which has delivered an average gold price of US$1,324/oz in a falling gold market.
Our debt free working capital base of A$178M has been steadily built up during the course of the year and this has placed us in a strong position to deliver growth in total shareholder returns notwithstanding the challenging gold price environment in which we are currently operating.”
Click here for the 2015 financial results and accompanying presentation and Appendix 4E.
Perseus Mining Limited
Level 2, 437 Roberts Road
Subiaco, Western Australia 6008
ACN 106 808 986
ABN 27 106 808 986
Ph: +61 8 6144 1700
Fax: +61 8 6144 1799
Email: info@perseusmining.com
mail.launchpadcreative.com.au/t/ViewEmail/r/96D48DC0BA18B66D2540EF23F30FEDED/04597310272DD36ACE63909E3969C05F
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