Perseus Mining Ltd
ASX:PRU
Perseus Mining Ltd
Perseus Mining Ltd. stands as a formidable player in the gold mining industry, rooted in the rich soils of West Africa, a region renowned for its mineral wealth. The company embarked on its journey with its flagship project, Edikan Gold Mine, nestled in the heart of Ghana. This venture set the stage for Perseus to emerge as a credible mid-tier gold producer. Edikan, with its extensive reserves, not only showcases high-grade mineral deposits but also illustrates Perseus's efficient approach to gold extraction and processing, contributing significantly to the company's revenue stream by turning mineral-rich ores into market-ready gold bars.
Diversification is at the core of Perseus Mining's strategy, a vision vividly realized through its expansion into other prolific locations like Sissingué in Côte d’Ivoire and the more recent Yaouré Gold Mine. These sites leverage advanced mining technologies and practices, ensuring sustainable and profitable operations. By maintaining a robust portfolio of mines, Perseus navigates market volatilities and optimizes production costs, sustaining a steady flow of revenue. The company's success story is built not only on the shimmering allure of gold but also on its strategic foresight, operational excellence, and commitment to delivering tangible economic benefits to the communities where it operates.
Perseus Mining Ltd. stands as a formidable player in the gold mining industry, rooted in the rich soils of West Africa, a region renowned for its mineral wealth. The company embarked on its journey with its flagship project, Edikan Gold Mine, nestled in the heart of Ghana. This venture set the stage for Perseus to emerge as a credible mid-tier gold producer. Edikan, with its extensive reserves, not only showcases high-grade mineral deposits but also illustrates Perseus's efficient approach to gold extraction and processing, contributing significantly to the company's revenue stream by turning mineral-rich ores into market-ready gold bars.
Diversification is at the core of Perseus Mining's strategy, a vision vividly realized through its expansion into other prolific locations like Sissingué in Côte d’Ivoire and the more recent Yaouré Gold Mine. These sites leverage advanced mining technologies and practices, ensuring sustainable and profitable operations. By maintaining a robust portfolio of mines, Perseus navigates market volatilities and optimizes production costs, sustaining a steady flow of revenue. The company's success story is built not only on the shimmering allure of gold but also on its strategic foresight, operational excellence, and commitment to delivering tangible economic benefits to the communities where it operates.
Production: Gold production for the quarter was 88,888 ounces, with group production for the December half at 188,841 ounces. FY26 group guidance remains at 400,000–440,000 ounces.
Costs: All-in site cost rose to $1,800/oz for the quarter, up due to higher royalties linked to strong gold prices and an additional 2% royalty in Côte d’Ivoire. Full-year all-in site cost guidance increased to $1,600–$1,760/oz.
Financials: Net cash and bullion closed at $755 million, down $82 million from prior quarter, after strong operating cash flow and ongoing capital investment.
Margins & Pricing: Average gold sale price was $3,437/oz for the quarter, delivering a robust cash margin of $1,637/oz.
Growth Projects: Nyanzaga project remains on budget and schedule for first gold in January 2027; CMA underground at Yaouré sees strong development progress.
Royalty & Fiscal Negotiations: Company paid an additional 2% royalty in Côte d’Ivoire in good faith amid ongoing government-industry talks on a new fiscal regime; outcome and timing remain uncertain.
Hedging: Hedged position reduced from 14% to 11% of three-year production, with 215,000 put options in place at an average price of $2,619/oz.
Site Performance: Edikan and Sissingué delivered strong or improved quarters, while Yaouré output was lower due to reliance on lower-grade stockpiles; higher grades expected as new ore sources come online.
