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Highlights
Perseus Mining achieves production guidance for FY25 with consistent output across operations
Final investment decision approved for Nyanzaga Gold Project, progressing site development
Strong cash and bullion position
Perseus Mining Limited (ASX:PRU), listed on the ASX 200 and All Ordinaries, reported stable production and financial results in its June 2025 quarter, concluding the financial year on track with its full-year guidance. The company continues to maintain a robust balance sheet while advancing major growth initiatives.
Gold production for the quarter remained consistent with the previous three months, reflecting operational stability across the company’s assets. The company also confirmed that its cost and production guidance for the half-year and financial year were met.
Financial and Operational Metrics Remain Resilient
Across the June 2025 quarter, Perseus delivered similar volumes of gold recovered and poured compared to earlier periods, underscoring operational discipline. Sales volumes increased, contributing to a stronger average sales price and enhanced cash margins during the quarter.
Despite slight increases in production costs and all-in sustaining costs (AISC), notional cashflow improved, supported by firm gold pricing. The company’s performance over the past twelve months reflects efficient management of costs and operating conditions.
Safety performance also remained strong, with a total recordable injury frequency rate significantly below sector averages.
Growth Strategy Advances with Nyanzaga Gold Project
During the quarter, Perseus reached a Final Investment Decision to develop the Nyanzaga Gold Project (NGP). Early site works are progressing on schedule and within budget, aligning with the targeted timeline for first production in early calendar 2027.
The company continues to conduct infill drilling at NGP, with recent results supporting an upcoming Mineral Resource and Ore Reserve upgrade. This may lead to an extended mine life and further development prospects.
The outlook over the next five years includes sustained gold production within the half-million-ounce range, with expected costs aligning with the sector’s evolving dynamics.
Strong Cash Position and Share Buy-Back Program
Perseus ended the quarter with a substantial cash and bullion balance, alongside listed liquid securities. This was achieved despite ongoing capital spending on project development, tax commitments, dividend payments, and the ongoing share buy-back initiative.
The share buy-back program, remained active through non-blackout trading windows. A significant portion of the buy-back has already been executed, with shares cancelled accordingly.
Perseus maintains zero debt and retains full access to an undrawn loan facility, reinforcing its financial flexibility heading into FY26.
