Perseus Mining to Sell Stake in Sudan’s Meyas Sand Project in US$260 million Deal
Perseus Mining Limited (ASX: PRU) has announced a deal to sell its 70% ownership interest in Sudan’s Meyas Sand Gold Project (MSGP). The project will be acquired by Hong Kong Matrix Golden Fortune Mining Limited, a subsidiary of Matrix Resources (Zhejiang) Co., Ltd., in a transaction valued at US$260 million in cash. The agreement includes a US$10 million deposit received upon signing, while the remaining US$250 million will be paid upon completion of the transaction, which is expected on 22 April 2026.
The project is being sold on an “as is, where is” basis with no conditions attached to the completion of the deal. Perseus originally acquired the MSGP through its acquisition of Orca Gold Inc. in 2022. The sale value enables the company to recover the purchase price and the investments made in the project, resulting in a financial gain.
Following a strategic review, Perseus decided to divest the asset due to the ongoing conflict in Sudan that has hindered development plans. The transaction will allow the company to redirect resources toward core operations and strengthen its balance sheet while considering potential capital returns to shareholders.
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Perseus Mining to Sell Stake in Sudan’s Meyas Sand Project in US$260 million Deal
Perseus Mining Limited (ASX: PRU) has announced a deal to sell its 70% ownership interest in Sudan’s Meyas Sand Gold Project (MSGP). The project will be acquired by Hong Kong Matrix Golden Fortune Mining Limited, a subsidiary of Matrix Resources (Zhejiang) Co., Ltd., in a transaction valued at US$260 million in cash. The agreement includes a US$10 million deposit received upon signing, while the remaining US$250 million will be paid upon completion of the transaction, which is expected on 22 April 2026.
The project is being sold on an “as is, where is” basis with no conditions attached to the completion of the deal. Perseus originally acquired the MSGP through its acquisition of Orca Gold Inc. in 2022. The sale value enables the company to recover the purchase price and the investments made in the project, resulting in a financial gain.
Following a strategic review, Perseus decided to divest the asset due to the ongoing conflict in Sudan that has hindered development plans. The transaction will allow the company to redirect resources toward core operations and strengthen its balance sheet while considering potential capital returns to shareholders.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au