Perseus hopes to fill the void at the top of the ASX’s gold ranks left by Newcrest.
Africa-based gold miners have largely escaped the cost blowouts witnessed in WA.
Perseus boss Jeff Quartermaine still hopes to develop its Sudanese asset.
Gold miner Perseus could pay bonus shareholder returns next month after smashing full-year production targets, almost doubling its cash reserves and deferring one of its major spending options because of an African civil war.
Perseus’ three mines in Ghana and Cote D’Ivoire produced 538,642 ounces of gold in the year to June 30; 9 per cent better than the previous year and 2 per cent better than the top end of the company’s target range.
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Peter Ker covers resource companies for The Australian Financial Review, based in Melbourne. Connect with Peter on Twitter. Email Peter at pker@afr.com
