Perseus Mining Limited (ASX: PRU)- Perseus Mining Limited narrowed down its losses in FY18

  • Aug 29, 2018 AEST
  • Team Kalkine
Perseus Mining Limited (ASX: PRU)- Perseus Mining Limited narrowed down its losses in FY18

West African gold producer Perseus Mining Limited posted net loss after tax of $24.9 million for FY18 compared to a net loss after tax of $83.1 million in the previous financial year.

There has been total production of 255,916 ounces of gold in the twelve months to June 2018, 45% more than the prior year production, reflecting contribution received from low cost Sissingué gold mine after the start of its commercial production in November 2017.

The gold miner has reported improved performance over the past one year resulting from 36.5% increase in revenue to $378.1 million, 5% decline in cost of sales, and foreign exchange gain of $5.7 million. At 30 June 2018, cash and bullion on hand was $89.8 million, up $46.8 million from FY17.

No dividend has been recognized for the year ended 30 June 2018.

Perseus Mining Limited’s stock is trading at $0.345 on 29 August 2018. There has been positive performance change of 18.97% over the past one year.

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