Nyanzaga project logical addition to gold miner Perseus' portfolio - brokerage

Orecorp

23/01/2024 19:37

** Analysts at Cormark Securities believe the Nyanzaga gold
project would be a logical addition to the portfolio of
Australia's Perseus Mining  PRU.AX  
    ** The gold miner announced its intention to acquire smaller
peer OreCorp  ORR.AX  for A$258 million ($169.35 million), with
the latter currently developing the Nyanzaga gold project in
Tanzania
    ** Brokerage sees co generating significant free cash flow
in near term
    ** Adds co's robust cash balance points towards more merger
and acquisition activities
    ** Stock fell 12.3% in 2023


($1 = 1.5235 Australian dollars)

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))