Perseus Mining director shows faith in gold strategy with on-market purchase

Perseus Mining Ltd (ASX:PRU) non-executive director Daniel Lougher has demonstrated his faith in the company's West African gold strategy with the acquisition of shares in an on-market transaction. On June 23 Lougher acquired 8,000 shares at A$1.20 per share, with the transaction representing his first in the gold producer, developer and explorer. The company has a market cap of approximately $1.349 billion and shares today have traded in the range of $1.155 to $1.205. On-track at Yaouré Perseus remains on schedule to achieve the stretch target of first gold pour in December 2020 from its Yaouré Gold Project in Cote d’Ivoire. Yaouré will be the company’s third gold mine and integral to growing production to 500,000 ounces per annum by FY2022. Perseus is also acquiring Exore Resources Ltd (ASX:ERX) (OTCMKTS:NLIOF) which will result in the company gaining a gold project near its Sissingué Gold Mine in Côte d’Ivoire. The parties have entered into a Scheme Implementation Deed which will see Perseus acquire 100% of Exore for a fully diluted equity value of A$59.8 million.