Perseus Mining (ASX:PRU) will still benefit from Predictive Discovery's (ASX:PDI) proposed merger with Robex Resources (ASX:RXR) as the largest Predictive Discovery shareholder with a 17.8% stake, according to a Thursday note by Euroz Hartleys.

On Monday, the company said its offer to acquire Predictive had been terminated and was no longer deemed "superior," following Predictive's receipt of a revised scheme of arrangement from Robex that matched the company's offer.

The company said it does not plan to submit a revised offer for Predictive, but has the right to vary its position.

Euroz Hartleys continues to see good value in the company and expects it to maintain its strong balance sheet of over AU$1.2 billion in the next quarter.

The firm maintained its buy rating on Perseus Mining but raised its price target to AU$5.90 from AU$5.05.