Opinions
Brent Cook
Perseus Mining Limited
PRU-T
DON'T BUY
Mar 04, 2015
$0.330
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.
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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.
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It is low grade and they have had issues getting it to make money. It probably won’t make a lot of money ever unless the price of gold goes up.