Perseus had another strong quarter. PRU are a gold miner, with 3 relatively short mine life mines over in Africa (higher geographic risk, in our view). So we don’t own them, but they are a very solid company.

Now, there is a saying, something like “all you see is all there is”. Here, PRU put out a great and useful plot of production guidance and subsequent actual production over time. So helpful. Why don’t other companies do this? Because they have a rubbish track record and the graph wouldn’t look as good as this (where, if you look below, you’ll note production tends to meet or exceed guidance, as does cost [e.g. coming in below] on the right).

Thus, if you are going through a company deck and you wonder “why don’t they table the information in this helpful and friendly manner like company X”, well, you have you answer.

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