An announcement from Perseus Mining Limited ( (AU:PRU) ) is now available.
Perseus Mining Limited has announced a Final Investment Decision to proceed with the development of the Nyanzaga Gold Project in Tanzania, with an investment of approximately US$523 million. The project is expected to produce its first gold in Q1 2027 and will be financed through intercompany loans from Perseus’s existing cash reserves. The decision follows successful engagement with the Tanzanian government and aims to enhance Tanzania’s mining reputation. The project is anticipated to produce an average of over 200,000 ounces of gold annually from FY28 to FY35, with significant economic returns projected based on current gold prices.
More about Perseus Mining Limited
Perseus Mining Limited is a mining company based in Perth, Western Australia, primarily focused on gold mining operations. The company has successfully developed and operates several gold mines in Africa, including Edikan, Sissingué, and Yaouré, and is known for its efficient and modern mining practices.
YTD Price Performance: 29.15%
Average Trading Volume: 44,879
Technical Sentiment Signal: Sell
Current Market Cap: C$4.03B
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