Perseus Mining reports US$900M cash and higher costs
Key points
- Perseus Mining reported a US$171 million notional operating cash flow for the September quarter, while gold production decreased.
- The company's group all-in site cost rose to US$2,035 per ounce, up 5% from the previous quarter, as gold produced fell 15% to 92,551 ounces.
- Management attributed the performance to strong initial operations at its newest mine, reinforcing its track record for project delivery and financial growth targets.
Perseus Mining (ASX:PRU) reported a 15% drop in quarterly gold production to 92,551 ounces and a 21% decrease in notional operating cash flow to US$171 million during the September 2026 quarter.
Total gold production of 92,551 ounces was down from 109,013 ounces in the previous June 2026 quarter, while its average AISC per ounce sold rose 5% from US$1,941 to US$2,035.
"The September quarter was a solid start to FY27, with all three operations performing and on track for our full-year guidance," said Perseus Managing Director and CEO Craig Jones.
The quarterly performance follows the commencement of commercial production at its Yaouré CMA Underground mine, and the company confirmed its Nyanzaga Gold Project remains on track for development as it maintains a balance sheet with cash and bullion of US$900 million.
The gold producer reiterated its existing 2027 fiscal year production and AISC guidance between 420,000 and 480,000 ounces at US$1,835 to US$2,070 per ounce.
Following the announcement, the Perseus Mining share price was down 1.2% at $5.40.
Perseus Mining is a multi-mine West African gold producer that has built a robust capital position through operations and debt-free growth to fund its development objectives and shareholder return policies.
