Perseus Mining (ASX: PRU) – PRU Q3 2026 Quarterly Report

Perseus Mining delivered a strong start to fiscal 2027, with September quarter production of 92,551 ounces exceeding expectations and a cash position of US$900 million, reinforcing the company’s financial strength as it prepares for the ramp-up of its Nyanzaga Gold Project.

The three operating mines in Côte d’Ivoire and Ghana produced broadly in line with guidance despite being impacted by planned maintenance across the portfolio. Yaouré delivered 36,648 ounces including production from the newly commercialised CMA Underground operation, while Edikan and Sissingué contributed 35,830 and 20,073 ounces respectively. The weighted average all-in site cost of US$2,035 per ounce was 5 percent higher than the prior quarter, primarily reflecting the impact of those scheduled maintenance activities on operational efficiency.

Nyanzaga continues to progress strongly toward first production in January 2027, having reached 88.4 percent construction completion at the end of September. The project has advanced through 10.9 million worked hours without a lost-time injury, and management reports it remains on budget and on schedule. Mining pre-strip has achieved the budgeted 4.6 million bank cubic metres, with first ore mined and stockpiled. Key plant infrastructure including mills, carbon-in-leach tanks and the backup power station are nearing completion, with commissioning teams now mobilised to commence equipment commissioning in the coming period.

At an average realised gold price of US$3,881 per ounce, the group generated notional operating cashflow of US$171 million for the quarter. The cash margin of US$1,846 per ounce reflects the strength of the operating environment, with Perseus ending the period debt-free and holding US$338 million in listed securities alongside its cash and bullion. This fortress balance sheet positions the company to fund Nyanzaga’s final development phase and deliver shareholder returns simultaneously.

Management is guiding for group production of 420,000 to 480,000 ounces in fiscal 2027 at an all-in site cost of US$1,835 to US$2,070 per ounce, assuming a gold price of US$4,000 per ounce. Beyond production growth, the company has announced a special distribution of A$100 million to shareholders, approximately 7.54 cents per share, funded from the Meyas Sand project divestment. The company has also approved a further on-market share buyback of up to A$350 million, with A$6.7 million deployed to date at an average price of A$6.53 per share. A final dividend of A$0.09 per share for fiscal 2026 was paid in early October.

The key catalysts to monitor are Nyanzaga’s first gold pour in January 2027, the phased production ramp-up at CMA Underground as it reaches steady-state operations, and the company’s ability to achieve higher grade ore access at Edikan later in fiscal 2027. Management expects these factors to drive material production growth in the second half of the financial year. 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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