Perseus Mining December Quarter Wrap-up: Increased Gold Production and Sales

2 min read | January 29, 2025 01:42 PM AEDT | By Team Kalkine Media

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Highlights

Production Surge: Gold production rose 9% to 132,419 ounces.

Higher Sales: Gold sales increased by 20% to 136,623 ounces.

Future Outlook: FY25 guidance set at up to 504,709 ounces with costs between US$1,250 and US$1,280 per ounce.

Perseus Mining Ltd (ASX:PRU) has reported a strong performance in the December 2024 quarter, with a notable increase in gold production and sales, despite slightly higher costs due to accelerated waste stripping at the Yaouré gold mine in Côte d’Ivoire.

The company recorded a 9% increase in production, reaching 132,419 ounces of gold. Meanwhile, the all-in-site cost (AISC) for the quarter stood at US$1,127 per ounce, an improvement from the previous US$1,201 per ounce.

Gold sales surged by 20% to 136,623 ounces in the December quarter. The increase was partly due to the clearance of shipments delayed from the prior comparable period. Perseus also confirmed that production for the first half of fiscal year 2025 and the full calendar year 2024 was at the upper end of its guidance range, while costs remained on the lower end.

Looking ahead, Perseus has set market guidance for the June 2025 half-year at 215,000 to 220,000 ounces, with an expected AISC between US$1,360 and US$1,435 per ounce. The company’s full-year production guidance for fiscal 2025 stands between 469,709 and 504,709 ounces at an estimated cost range of US$1,250 to US$1,280 per ounce.

A major milestone in the December quarter was Perseus’ Final Investment Decision (FID) to develop the Yaouré gold mine further. This strategic move is expected to enhance long-term output and strengthen the company’s foothold in West Africa’s gold sector.

Following the positive quarterly results, Perseus Mining shares surged 3.48% to AU$2.82 per share on January 29, 2025, reflecting investor confidence in the company’s robust operational performance and growth prospects.

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