Perseus Mining CEO Jeff Quartermaine expressed confusion over the company's lower trading multiples compared to other gold stocks, despite a strong quarter with increased production and lower costs. The article suggests that sovereign risk concerns associated with Perseus' African assets likely explain the discrepancy.
After another strong quarter that has resulted in Perseus Mining having more than US$700 million cash to its name, strident managing director Jeff Quartermaine was wondering on a conference call why the company doesn't trade on the multiples he claims the rest of the gold sector enjoys.What's confusing, though, is not why Perseus is trading on lesser multiples, but why it is that Quartermaine is confused.
So, yeah, there should be no great confusion at Perseus HQ as to what sovereign risk is.Meanwhile, with $700 million in its bank account , Quartermaine said Perseus was on the hunt for assets.Again though, he lamented the value "our friends in the equities market" put on other assets.
PERSEUS MINING Sovereign Risk Gold Stocks Asset Acquisition Dividend Policy
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