Perseus sinks deeper into the red

Dual-listed gold miner Perseus Mining has doubled its after-tax loss, with the company reporting a net loss of A$76.1-million in the 12 months to June, compared with a net loss of A$35.6-million in the previous financial year. The ASX- and TSX-listed company on Wednesday reported that the increase in the net loss resulted from an A$11.7-million foreign exchange loss, compared with a gain of A$9.2-million in 2016, as well as a loss of A$27.5-million arising from the 2016 acquisition of Amara, a write-down of A$16.1-million incurred on the tenements in Ghana, a reduction in the carrying value of low-grade stockpiles and a depreciation and amortisation expense of A$56.2-million.