Opinions
Peter Imhof
Perseus Mining Limited
PRU-T
TOP PICK
Jul 13, 2011
Gold in West Africa expecting to start production in 2 weeks. Expecting 200,000 ounces in the next 12 months, ramping up to 280,000 and eventually 400,000 and 450,000. Trading at a very low multiple. Great takeout candidate because of production and low-cost.
$3.180
Stock price when the opinion was issued
Golds
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TOP PICK
(Top Pick Jul 13/11, Down 19.56%) Under promised and over delivered and this is one of the few that is producing and has done this. One of the only companies he has seen bring a mine into production under budget and on time. Grade higher than they originally thought. Will grow from 200,000 oz to 400,000-500,000 oz of production.
Golds
COMMENT
Stock is priced as though they had no exploration projects, which he thinks is a mistake. It seems too cheap. They did a reasonable job of handling their severe operating difficulties. Company has done a very good job of operating politically and socially in West Africa. Thinks political risks here are overstated.
Golds
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