The Perseus Mining Ltd (ASX: PRU) share price is in focus after the gold miner delivered quarterly gold production of 88,888 ounces and finished the period with a cash and bullion balance of US$755 million.
What did Perseus Mining report?
- Gold production of 88,888 ounces in the December 2025 quarter, down from 99,953 ounces in the prior quarter
- All-In Site Costs (AISC) increased to US$1,800 per ounce (up from US$1,516 in Q1 FY26)
- Average realised gold price reached US$3,437 per ounce
- Operating cashflow of US$145 million for the quarter
- Cash and bullion balance at quarter-end of US$755 million, plus US$229 million in listed securities
- Company paid an additional 2% royalty in Côte d'Ivoire, totalling US$20 million in Q2
What else do investors need to know?
Perseus Mining continued to advance major development projects. The CMA Underground at Yaouré delivered its first ore in January 2026, marking a key step toward commercial production, while the Nyanzaga project in Tanzania remains on schedule for first gold production in January 2027.
During the quarter, Perseus launched an unsuccessful takeover offer for Predictive Discovery Limited. Additionally, the company refinanced and upsized its debt facility to US$400 million, improving future funding flexibility. On the sustainability front, the group maintained a Lost Time Injury Frequency Rate of zero, though tragically two contractor fatalities occurred in an offsite accident.
What did Perseus Mining management say?
Managing Director and CEO Craig Jones said:
Despite some operational headwinds in the December quarter, particularly at Yaouré, our team has kept a strong focus on safety and advancing our growth projects. We remain well placed to deliver on our FY26 production targets and continue investing in the future of Perseus.
What's next for Perseus Mining?
Perseus continues to guide for full year FY26 gold production of 400,000 to 440,000 ounces, with group AISC expected in the range of US$1,600–1,760 per ounce. The company flagged that production will be weighted to the second half, given higher grade ore is expected from Edikan and Sissingué. Key project milestones ahead include ramping up the CMA Underground and keeping Nyanzaga development on track. Exploration will also remain an area of active investment across its African portfolio.
Perseus Mining share price snapshot
Over the past 12 months, Perseus Mining shares have risen 127%, strongly outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 6% over the same period.
