Perseus Mining (PRU)

Shares / Stock Code

PRU

Stock Exchange / Sharemarket

ax

Perseus Mining Limited (PRU) is an exploration company searching primarily for gold, with tenements mainly in West Africa and Central Asia. Key projects are located in the Ashanti Belt of Ghana, Morila-Tongan in Mali and Cote d'Ivoire, and in the Kyrgyz Republic section of the Tien Shan gold belt. Exploration companies aim to discover and delineate occurrences of metals and minerals that can be economically mined and extracted.

Perseus Mining Limited (PRU) is engaged in the mineral exploration and project development in West Africa. It operates in two segments: investing and mineral exploration. Its investing segment is engaged in investing in equities, cash management and corporate management. Its mineral exploration segment is engaged in exploration, predominantly for gold in West Africa. Its geographical segment includes Australia and West Africa. Perseus’s Central Ashanti Projects comprise 650 square kilometers of tenements located from 30 kilometers south-west and southeast of the 60 Moz Obuasi gold deposits. Perseus’s Ayanfuri Project lies in the Central Ashanti region of Ghana, approximately 320 kilometers from the capital Accra and 185 kilometers from the port of Takoradi.

Perseus is a gold explorer focusing in West Africa and the Kyrgyz Republic. The regions most concentrated on by PRU are: Ghana (Ashanti gold belt in Ghana has for more than a decade been one of the world's most prolific in terms of gold discoveries and production growth), Morita and Tien Shan (contains many World Class deposits including the world's largest open pitable gold deposit, the over 120 million ounce Muruntau gold mine). Moreover, PRU's major customers would include the retail, wholesale and international markets. Its competitors consist of other gold mining companies such as Midas Resources (MDS). The mining industry is a global industry, which is highly competitive.

Perseus Mining's Vision & Mission

The company's aim is to expand their gold resource base through rapid exploration of existing ground and acquisition of prospective new projects, while developing the Ayanfuri gold project over the next two years.

The Company plans to start its first mining operation in 2011, (subject to obtaining all approvals on a timely basis), and aims at having multiple gold mines operating in West Africa. Perseus is focused on West Africa and their plan is to develop mines in Ghana and Ivory Coast and discover new gold resources through innovative exploration.