PRU 5.00% 95.0¢ perseus mining limited

cortez hill acquisition

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    US Global Investors Weekly
    "Gold continued its seven-year rally on a slumping dollar, fears of global inflation and record high oil prices. Gold surged to an all-time high of over $950 per ounce early in the week. Gold demand in the Middle East rose more than 30 percent in 2007. High gold prices apparently affected this market less than other regions of the world.

    The world’s largest gold producer bought out the remaining share of the Cortez Hills deposit from their joint-venture partner. The company spent $1.7 billion to get control of 4.6 million ounces of gold, paying roughly $370 per ounce in the ground, somewhat higher than recent industry average transaction prices." (2/22/08)

    My comment....
    A definite step up from the $150/oz odd paid when gold was USD 660 ish! (no doubt they consider there are additional oz in the ground too)

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