Perseus Mining has delivered a standout result for the financial year ending 30 June 2026, with profit after tax of $480.5 million representing a 14% increase on the prior year. The company’s strong operational performance, underpinned by sustained gold prices and execution across its portfolio, has translated into record shareholder returns that signal management’s confidence in the business trajectory ahead.
Revenue rose 19% to $1.484 billion while EBITDA climbed 16% to $860.5 million, reflecting both higher production and favorable commodity pricing during the period. Earnings per share of 31.7 cents advanced 17%, providing a tangible indicator of per-share value creation. More tellingly, net cash flow from operating activities surged 24% to $666.4 million, underscoring the company’s capacity to convert its operational gains into actual cash available for deployment and shareholder distribution.
The balance sheet position underpins the confidence evident in management’s capital allocation decisions. Perseus now carries $1.03 billion in cash and bullion holdings, equivalent to $0.77 per share, alongside $400 million in undrawn debt capacity. This fortress-like position provides substantial flexibility for funding the pipeline of growth projects while maintaining shareholder returns at elevated levels.
The dividend policy represents the most visible marker of management’s shifted posture. The full-year dividend of 14 cents per share is up 87% from the prior year, with the final distribution of 9 cents delivering a yield of 2.7% based on the 30 June VWAP. Beyond the current-year payout, the company has updated its capital management framework to target a minimum dividend of 20% of operating cash flow after non-controlling interest payments, effectively cementing higher returns as a structural feature rather than a cyclical feature of the distribution policy.
Complementing the dividend expansion, Perseus has initiated a new $350 million on-market share buyback program following $126 million in repurchases during FY26. The company also intends to distribute a further $100 million to shareholders from the sale proceeds of the Meyas Sand Project in Sudan, though the mechanics of that distribution, whether via capital reduction or special dividend, remain subject to tax office confirmation.
Operationally, the company continues to advance its growth pipeline. The Nyanzaga Gold Project in Tanzania is tracking toward first gold pour in January 2027, while the CMA underground operation in Côte d’Ivoire has already achieved first gold production. The resource base expanded materially, with measured and indicated resources rising 37% and proved and probable reserves climbing 40% compared to the prior year, suggesting the company’s ability to replace production and support multi-year production growth.
Investors should focus on execution of the Nyanzaga ramp-up in the months ahead, tracking whether the project delivers on its January 2027 timeline and achieves the production and cost assumptions embedded in current guidance. The timing of the Meyas Sand Project capital return and its final structure will also warrant attention. This announcement has been designated as price sensitive and 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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