Perseus PRU.TO PMNXF Interesting you should ask today. I listened to the recorded conf call this morning. I wouldn't call it a cash crunch. They still have about $65M in cash from a larger position. They just made some adjustments due to a delay.
The issue is a development delay, that caused costs to temporarily go up and production down. They burned some extra cash. This caused guidance for first production from the Sissingue project to be delayed for by 4 months and into 2018, Otherwise, their on a solid path to 500k self funded high cash flowing ounces yearly Production.
Perseus is part of my low risk long term growth strategy. I will be adding at different points as I have funds. This is the kind of opportunity I look for. The market oversells a mishap, causing a buying opportunity, for an otherwise solid company with a great future.
They are nearly going to self fund themselves to 500K Oz/year in 2020
Just figure out the future value on that with little to no dilution.
I chose Nexus as my pic 3 candidate (currently up 200% in 3 weeks) due to its unique situation on being in Burkina Faso and attached to the northern extension of huge Côte d'Ivoire and Ghana projects below. Burkina Faso reputation as a hot area, is just getting started. I got the heads up at the 2016 PDAC show and just waited.
Checkmate28
