PRU Perseus Mining Ltd

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


Perseus Mining Limited ("Perseus" or the "Company") (TSX:PRU)(ASX:PRU) is
pleased to announce the successful placement to institutional and sophisticated
investors of about 68.7 million ordinary shares, representing 15% of Perseus's
existing capital to raise approximately A$32 million (the "Placement").


The price under the Placement was set at A$0.47 ("Placement Price") per new
share issued. The Placement Price represents a 6.9% discount to the last ASX
closing price of Perseus shares of A$0.505 on February 14, 2014 and a 2.3%
discount to the ASX five-day volume weighted average price of A$0.48 (up to and
including February 14, 2014). 


The proceeds of the Placement will be used for capital expenditure to accelerate
productivity improvements and access to the eastern pits at the Edikan Gold Mine
in Ghana and to provide for further balance sheet flexibility. 


Managing Director and CEO of Perseus, Jeff Quartermaine said, "We were extremely
pleased with the level of interest in the Placement which was well supported by
new and existing institutions. The Placement will help provide us with balance
sheet strength, keeping us debt free as we continue to implement the
re-optimised Edikan Life of Mine Plan focused on maximising cash margins,
increasing gold production, reducing unit costs and ensuring efficient capital
deployment. During the December 2013 quarter, we produced 48.4koz from Edikan
for an all-in site unit cost of US$1,228/oz, 8.5% lower than the previous
quarter." 


UBS AG, Australia Branch acted as sole lead manager and book runner for the
Placement supported by GMP as co-manager. 


Settlement of the Placement is subject to TSX approval and is expected to occur
on February 21, 2014, with the new shares expected to be allotted through the
ASX and commence trading on February 24, 2014. The new shares will rank equally
with existing shares.


Jeff Quartermaine, Managing Director and Chief Executive Officer

The securities referred to in this news release have not been, nor will they be,
registered under the United States Securities Act of 1933, as amended, and may
not be offered or sold within the United States or to, or for the account or
benefit of, U.S. persons absent U.S. registration or an applicable exemption
from the U.S. registration requirements. This news release does not constitute
an offer for sale of, nor a solicitation for offers to buy, any securities in
the United States. Any public offering of securities in the United States must
be made by means of a prospectus containing detailed information about the
issuer and its management, as well as financial statements.


Caution Regarding Forward Looking Information: This report contains
forward-looking information which is based on the assumptions, estimates,
analysis and opinions of management made in light of its experience and its
perception of trends, current conditions and expected developments, as well as
other factors that management of the Company believes to be relevant and
reasonable in the circumstances at the date that such statements are made, but
which may prove to be incorrect. Assumptions have been made by the Company
regarding, among other things: the price of gold, continuing commercial
production at the Edikan Gold Mine without any major disruption, development of
a mine at Tengrela, the receipt of required governmental approvals, the accuracy
of capital and operating cost estimates, the ability of the Company to operate
in a safe, efficient and effective manner and the ability of the Company to
obtain financing as and when required and on reasonable terms. Readers are
cautioned that the foregoing list is not exhaustive of all factors and
assumptions which may have been used by the Company. Although management
believes that the assumptions made by the Company and the expectations
represented by such information are reasonable, there can be no assurance that
the forward-looking information will prove to be accurate. 


Forward-looking information involves known and unknown risks, uncertainties, and
other factors which may cause the actual results, performance or achievements of
the Company to be materially different from any anticipated future results,
performance or achievements expressed or implied by such forward-looking
information. Such factors include, among others, the actual market price of
gold, the actual results of current exploration, the actual results of future
exploration, changes in project parameters as plans continue to be evaluated, as
well as those factors disclosed in the Company's publicly filed documents. The
Company believes that the assumptions and expectations reflected in the
forward-looking information are reasonable. Assumptions have been made
regarding, among other things, the Company's ability to carry on its exploration
and development activities, the timely receipt of required approvals, the price
of gold, the ability of the Company to operate in a safe, efficient and
effective manner and the ability of the Company to obtain financing as and when
required and on reasonable terms. Readers should not place undue reliance on
forward-looking information. Perseus does not undertake to update any
forward-looking information, except in accordance with applicable securities
laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Perseus Mining Limited
Jeff Quartermaine
Managing Director
+61 8 6144 1700 (Perth)
jeff.quartermaine@perseusmining.com
www.perseusmining.com


Nathan Ryan
Investor Relations
+61 (0) 420 582 887 (Sydney)
nathan.ryan@nwrcommunications.com.au

Perseus Mining (TSX:PRU)
Gráfica de Acción Histórica
De May 2024 a Jun 2024

Perseus Mining (TSX:PRU)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024