Perseus on track to meet full-year guidance following strong first-quarter performance
ASX-listed gold mining company Perseus Mining recorded a strong quarter ended September 30, which CEO and MD Craig Jones described as “a solid start to full-year 2027”.
He noted that all three of the company’s operations performed well and that the company remains on track to meet its full-year guidance.
First-quarter group production exceeded the plan with 92 551 oz of gold at an all-in sustainable costs (AISC) of $2 035/oz.
An average cash margin of $1 846/oz of gold was produced, delivering notional operating cash flow of $171-million.
The Yaouré CMA underground operation, in Côte d'Ivoire, achieved commercial production. The Nyanzaga gold project, in Tanzania, reached 88.4% overall project progress, with development on track for first production by January next year.
Perseus ended the quarter with cash and bullion of $900-million, plus liquid listed securities valued at $338-million.
“Our balance sheet remains strong and debt free, to fund our growth objectives while continuing to deliver meaningful returns to shareholders through our share buyback and the upcoming special distribution,” Jones highlights.
“Looking ahead, we expect production to build through the second half of the year as Yaouré’s CMA continues to increase production and Edikan accesses higher grades in the Nkosuo pit along with Nyanzaga commencing operation, positioning Perseus for a transformational year,” he predicts.
With production plans exceeded in the first quarter, Perseus remains on track to meet its production guidance of between 420 000 oz and 480 000 oz at an AISC of $1 835/oz to 2 070/oz for the 12 months to June 30, 2027.
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