Perseus Mining (PRU) Q3 2025 earnings summary

Executive summary

• Gold production for the quarter was 121,605 oz at an all-in site cost of US$1,209/oz, with a cash and bullion balance of US$801 million and no debt.

• Notional cashflow for the quarter was US$152 million, with a cash margin of US$1,253/oz and average gold price received of US$2,462/oz.

• Final Investment Decisions were made for the CMA Underground at Yaouré and the Nyanzaga Gold Project in Tanzania, both fully funded from internal cash reserves.

• Share buyback program continued, with 32.8–33% of the target completed and 11.46 million shares cancelled.

Financial highlights

• Group gold sales for the quarter were 117,585 oz, with a weighted average realised gold price of US$2,462/oz, and group AISC of US$1,209/oz.

• Cash and bullion at quarter-end reached US$801 million, up US$97 million sequentially, with zero debt and a US$300 million undrawn credit line.

• Capital expenditure for the period was US$17 million, including US$11.4 million for Nyanzaga pre-FID.

• Share buyback program spent US$32.8 million to repurchase 11.46 million shares, 32.8% of the US$100 million target.

Outlook and guidance

• FY25 production guidance is 469,709–504,709 oz at AISC of US$1,250–1,280/oz, with June 2025 half-year guidance of 215,000–250,000 oz at AISC of US$1,360–1,435/oz.

• Yaouré expected to produce 243,158–258,158 oz in FY25 at AISC of US$1,160–1,210/oz; Edikan and Sissingué guidance maintained.

• Nyanzaga Gold Project expected to average over 200,000 oz/year from FY2028–FY2035 at AISC US$1,211/oz.

• Long-term strategy targets 500,000–600,000 oz annual gold production at cash margins of US$500+/oz.