Getting by by selling a few assets. Times are tough, lucky to have the assets to sell off. Perseus (ASX code: PRU) is the spin-off vehicle for Caspian’s former gold assets. Perseus has announced gold resources on projects in Ghana close to 5 million oz, and a prefeasibility study for the Ayanfuri indicating an initial 10 year mine life and an in-pit resource of 1.9 million ounces. Perseus is also exploring in the Ivory Coast, where it is preparing an initial resource estimate for the exciting Tengrela gold project. Despite its exploration and feasibility successes, and in line with the general market, the market value of Caspian’s holding in Perseus dropped significantly over the quarter. The value of Caspian’s holding is currently in the order of $10 million, after realizing over $1.4 million from the sale of shares since July.te.
CIG Price at posting:
17.0¢ Sentiment: Hold Disclosure: Held
