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Perseus Higher Down Under After Saying Resource Upgrade Likely for Ghana Project

Perseus Mining (PRU.TO) is set to gap higher at the bell this morning after the company said exploraton drilling for at least six prospects results at its Central Ashanti gold project (CAGP) in Ghana will likely result in future resource upgrades, sending its stock up about 4% in the Australian stock market earlier today.

Current resource estimates for CAGP suggest there is about 3.3 million ounces of gold; the company is hoping to increase those resource levels above 4 million ounces in order to support possible increase in production rates.

Perseus also said it recently resumed drilling at its Tengrela gold project in Côte d'Ivoire.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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