- Perenti Global (PRN) has received the receipt of around $80 million from the sale of its Yanfolila and Boungou assets in Burkina Faso
- The $80 million in cash comes from the sale of mining assets in Burkina Faso and the sale of remaining plant, property and equipment, along with the settlement of working capital balances
- The remainder of the sale total is expected over the coming months
- Perenti Global is up 2.7 per cent, trading at $1.14 per share
Perenti Global (PRN) has received the receipt of around $80 million from the sale of its Yanfolila and Boungou assets in Burkina Faso.
The $80 million in cash comes from the sale of both mining assets in Burkina Faso, plus the sale of remaining in-country plant, property and equipment (PPE), along with the settlement of working capital balances associated with the final close of these two contracts.
The funds received reflect around $55 million from the sale of the Yanfolila assets, and $25 million from the sale of assets associated with Boungou Mine.
The completion of the sale of remaining in-country PPE, the settlement of outstanding debtors and other working capital balances, as well as the sale of excess inventory is expected over the coming months.
“With the receipt of these funds, as outlined when we presented our 2021 half year results, we will redeploy this capital across our business into our most value accretive opportunities as we seek to generate and maximise value for our shareholders,” said Managing Director and CEO of Perenti Mark Norwell.
Perenti Global is up 2.7 per cent, trading at $1.14 at 12:30 pm AEST.