Mark Calderwood said last Thursday at Canary events presentation Perseus would have 12 drill rigs operating this year (7 at Central Ashanti Gold Project-formerly Ayunfuri) and 5 at Tengrela.
My experience with gold miners over the years is that when management start increasing the number of rigs they know they are on to something big. Though I can't recall a company with so many rigs operating at the same time.
Company has a strong balance sheet-with between $95m and $100m cash.
redbacks mkt cap went over 5 bill last nite , page-2
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