Perseus Mining PMNXF more info from the article Introduction
Perseus Mining (OTCPK:PMNXF) saw its market capitalization crash by roughly 85% as it became clear the company would not be able to meet the expectations at its African Edikan gold mine in Ghana. However, since 2014 I am convinced the market has been over-punishing Perseus Mining as the company's operating and financial situation was continuously improving. Perseus has now released its financial results of the financial year 2015, and these financial statements are confirming my earlier expectations.
Perseus also has a listing on the Australian Stock Exchange and the Toronto Stock Exchange and whilst both listings have a much higher daily volume, I'd recommend you to trade through the facilities of the ASX as the average daily volume is almost 4 million shares! The current market capitalization is approximately $149M. Strong production results at a low production cost are providing financial relief
Perseus was able to report an 18% increase in its gold production at its only producing mine, the Edikan mine in Ghana, where the total gold production for the financial year 2015 was 212,000 ounces thanks to a higher recovery rate and higher average grade of the mill feed.
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