Perseus Mining Limited (PRU) has reported a strong finish to its fiscal year, highlighting a significant rise in cash and bullion to over US$1 billion. The gold producer, which operates assets in Côte d'Ivoire and Ghana, delivered total gold production of 109,013 ounces for the June 2026 quarter. This figure represents a 2% increase over the 107,144 ounces produced in the previous quarter. The company also announced a strategic move to increase its share buyback program to A$150 million, reflecting its current balance sheet strength and cash-generating capability.

While production trended upward, the company faced higher operational costs during the period. The All-In Site Cost (AISC) rose to US$1,941 per ounce for the quarter, an 11% increase from the US$1,748 per ounce recorded in Q3 FY26. Additionally, notional operating cashflow reached US$216 million for the three months ending 30 June 2026, marking a decrease from the US$252 million generated in the March quarter. Perseus attributed these cost pressures partly to higher site costs and a new scaled royalty structure implemented in Ghana earlier this year.

A core focus for the company remains the ramp-up of the Yaoure CMA Underground development project, which reached a significant operational milestone during the quarter. Stoping operations have officially commenced, delivering 8,472 ounces of gold as the site moves toward steady-state production. The company is simultaneously advancing its broader growth pipeline, with the Nyanzaga Gold Project reportedly 67% complete and currently tracking toward its scheduled first production in January 2027.

"This was a quarter of significant milestones for Perseus - first stoping ore from CMA Underground, a first for both Perseus and Côte d'Ivoire, an outstanding safety achievement at Nyanzaga, and cash and bullion passing US$1 billion for the first time. That balance sheet strength gives us the flexibility to keep investing in our growth pipeline while continuing returns to shareholders as reflected in the Board's decision to upsize our buyback to $150m this quarter. I want to thank our employees and contractors across all our operations and projects for their dedication and hard work over the past year - the milestones we've delivered are a direct reflection of their commitment."

"Looking ahead, FY27 will be a transformational year for Perseus as we bring two major growth projects - CMA Underground and Nyanzaga - through to commercial production alongside our existing operations."
— Craig Jones, Managing Director and CEO

Perseus continues to balance these development efforts with consistent production output from its established Yaouré, Sissingué, and Edikan operations. Looking toward the next financial year, the company has set production guidance for FY27 at 420,000 to 480,000 ounces of gold, with an estimated AISC range of US$1,835 to US$2,070 per ounce. These figures account for the anticipated integration of the CMA Underground and Nyanzaga projects, which the company expects to be the primary drivers of its operational profile throughout the coming twelve months as they reach full commercial status.

Read the full announcement: PRU June 2026 Quarter Report