Perseus Mining
MINING
2013 quarter . Analyst Cathy Moises put a target price of $ 1.13 / share on Perseus , saying , “ We see [ Perseus ] as a key recovery play in CY14 as plant problems appear largely resolved and the realisation of the revised mine plan at Edikan . Perseus is trading at less than half our current valuation ; with a strong balance sheet and an eminently achievable business plan .”
In its latest Gold Sector Review , Credit Suisse increased its target price for Perseus to $ 0.65 / share ( from $ 0.64 / sh ) with an Outperform rating ( previously Underperform ).
‘ In its latest Gold Sector Review , Credit Suisse increased its target price for Perseus to $ 0.65 / share ( from $ 0.64 / sh ) with an Outperform rating ’
Employee training and incentives Intensive on-the-job training was an absolute necessity for Perseus coming into Africa . Fifty percent of the workforce is made up of locals from five different villages that surround the Edikan mine , and most had had no industry experience . Because of this , up to eight employees are solely involved in training the workforce .
Although building and training a workforce from scratch takes a lot of investment and time , it was worth it . Perseus has had the opportunity not only to build a close relationship with the community , but also has been able to train its workers from the beginning .
Perseus offers both short- and long-term incentive programs for its employees . The short-term programs are KPI ( key performance indicator ) based , and include extra funds for achieving or exceeding certain outcomes . A small
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Gold Recovery %
Actual Budget
FY-12-Q1 FY-12-Q2 FY-12-Q3 FY-12-Q4 FY-13-Q1 FY-13-Q2 FY-13-Q3 FY-13-Q4 FY-14-Q1 FY-14-Q2
The company ’ s gold recovery production performance began to stabilise and improve through 2012
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