Perseus Mining Limited is an African gold producer, developer and explorer and operates three mines in Africa: Edikan in Ghana and Sissingué and Yaouré in Côte d'Ivoire.
The increased facility is available for general corporate purposes for its gold projects in Ghana, Côte d'Ivoire and Sudan and subject to the satisfaction of certain customary conditions. Combined with its 31 December 2022 net cash position of US$405 million, it will provide the company with additional available liquidity to continue its growth strategy.
The banking consortium consists of six international banks - Macquarie Bank Limited, Nedbank Limited, Absa Bank (Mauritius) Limited, Citibank, N.A., Sydney Branch, FirstRand Bank Limited (acting through its Rand Merchant Bank Division) and The Standard Bank of South Africa Limited (acting through its Isle of Man Branch).
Perseus Mining was advised by MinterEllison Partner Gemey Visscher, with assistance from Tom Hemsworth.
Gemey Visscher said "We are delighted to have advised Perseus Mining on their upscaled facility. At this time of uncertainty in global financial markets, we are pleased the company has attracted the support of such international lenders to fund their gold projects in Africa."
"Perseus Mining has been a client for over 15 years, and we are proud to be associated with their business growth and success as a multi-mine and multi-jurisdictional producer" she added.
