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ASX and TSX-listed West African gold producer Perseus Mining is still examining the merits of a London listing.

In view of that, Perseus Mining has decided to extend the settlement arrangement for investors to hold depositary interests for a period of 12 months until 18 April 2019.

If the company decides not to seek a London listing before 18 April 2019 it may cancel the depositary interests.

If this cancellation takes place, shareholders will receive Perseus Mining shares to replace their depositary interests.

Perseus Mining advised in a letter to its shareholders on Friday that if a holder has an existing relationship or account with a broker, they may wish to contact that broker to establish whether they have a facility to allow the holder to hold and trade the Perseus shares and warrants and to discuss what procedures would need to be followed to put such a facility in place.

Background of arrangement

On 18 April 2016 the scheme of arrangement between Perseus Mining and Amara Mining and its shareholders became effective.

The company arranged a depositary interest facility for UK settlement until 18 April 2017, which was 12 months from the scheme effective date, pending an examination by Perseus of the merits of obtaining a standard listing of its ordinary shares on the London Stock Exchange to complement its existing share listings on the Australian Stock Exchange and the Toronto Stock Exchange.

The depositary interest facility was extended for another year in April 2017.

CLICK HERE to watch a video in which Mining Review Africa Editor Laura Cornish interviews Perseus Mining MD and CEO Jeff Quartermaine