Perseus Mining

By Dan Stratful

Friday 18th November 2011

Australian brokers remain bullish on gold explorer Perseus Mining (ASX: PRU) which has fallen hard in recent days, after reports that Ghana may change its mining tax laws.

PRU which is focused on under-explored gold belts in West Africa has achieved its goal of becoming a producer during 2011 with its first gold poured in September 2011. PRU’s target is to have two mines operating in West Africa during 2013, and it is working towards producing more than 250,000 ounces of gold per annum from the first mine which will be in production in 2011.

Macquarie's target price falls 7.8% to A$4.70 whilst retaining its Outperform rating; Credit Suisse leaves it’s A$4.20 target and Outperform rating unchanged; and UBS cuts its target just 4% to A$5.00 and retains its Buy rating.

PRU’s shares today traded at $3.03

Recommendations sourced from IRESS & Dow Jones Newswires

For sharemarket and fixed income trading enquires contact:
Dan Stratful at Investment Research Group (IRG)
Authorised Financial Adviser (AFA)
0800 437 8489, 09 304 0232, dan.stratful@irg.co.nz
**A disclosure statement is available, on request and free of charge.

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