Perseus Mining Limited reports “outstanding” year in FY20 with EBITDA up 67%
Perseus Mining Limited () () (OTCMKTS:PMNXF) has returned financial results described as “outstanding” in the 2020 financial year with EBITDA of $274 million, which was 67% higher than the previous year.
Managing director and CEO Jeff Quartermaine told Proactive that it had been a “very good year indicated by the results, particularly against a backdrop where lots of industries are struggling with COVID and things of that nature”.
The company’s EBITDA converted to profit after tax of $94 million “which was a somewhat extraordinary 1,146% better than what we achieved in the previous year. This converts to around 8.1 cents per share.”
Around $213 million of cashflow was generated from gold operations, 46% up on the previous year, and Perseus had cash in bullion on the balance sheet at the end of the year of $238 million.
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