Perseus Mining has reached a significant financial milestone, increasing its cash and bullion position to US$1.03 billion while simultaneously accelerating growth investments, signaling a company in strong operational and financial form.
The June 2026 quarter delivered solid results across the three operating mines. Gold production totaled 109,013 ounces at an All-In Site Cost of US$1,941 per ounce, representing a 2 percent increase from the previous quarter. The company achieved an average cash margin of US$2,145 per ounce, translating to notional operating cashflow of US$216 million for the quarter alone and US$769 million across the full financial year. These margins demonstrate Perseus’ cost discipline while maintaining production consistency.
Beyond steady-state operations, the quarter marked several transformational milestones. Yaouré’s underground extension commenced stoping operations, producing 8,472 ounces ahead of the commercial production phase. This achievement represents a first for both Perseus and Côte d’Ivoire, expanding the mine’s productive capacity. Meanwhile, the Nyanzaga Gold Project reached 67 percent overall completion and remains on schedule for first production in January 2027, positioning the company for a step-change in production capacity.
Safety performance also reflects strong operational discipline. Nyanzaga achieved 8 million worked hours without a lost-time injury, while the group operational TRIFR rate of 0.87 indicates consistent management across multiple operations and a major construction project.
The balance sheet strength underpins aggressive shareholder returns. The company increased its share buyback program to A$150 million, complementing the cash generation capability demonstrated throughout FY26. With US$1.03 billion in cash and bullion plus US$233 million in listed securities, Perseus maintains substantial flexibility to fund growth while rewarding shareholders.
Looking to FY27, the company has guided for production of 420,000 to 480,000 ounces at an AISC of US$1,835 to US$2,070 per ounce. This guidance incorporates the ramp-up of both the Yaouré underground extension and Nyanzaga into commercial production, representing a roughly doubling of current annualized production rates from existing operations. Management has also appointed Wade Bickley as Chief Operating Officer and Tommy McKeith as an independent Non-Executive Director, refreshing the leadership team ahead of this transformational year.
Investors should monitor the Nyanzaga development trajectory closely, particularly the January 2027 first production target. Execution on this major capital project has dominated investor conversations, and any delays would pressure FY27 guidance. Similarly, the ramp-up economics of the underground extension at Yaouré will be key to realizing the full production and margin potential outlined. This announcement is price sensitive and has been flagged as material by the ASX.
View the full ASX announcement (PDF)
About Perseus Mining Limited (ASX: PRU)
Perseus Mining Limited is an Australia-based gold producer, developer, and explorer headquartered in Subiaco. The company explores, evaluates, develops, and mines for gold properties in Ghana, Côte d’Ivoire, Tanzania, and Sudan, operating three operational gold mines including Edikan in Ghana and Sissingué and Yaouré in Côte d’Ivoire. It also owns the Nyanzaga gold project in Tanzania and the Meyas Sand Gold Project in Sudan.
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