Perseus Mining (PRU) Q3 2026 earnings summary

Executive summary

• Gold production for Q3 FY26 reached 107,144 oz, up 21% or 18,256 oz sequentially, with all three mines contributing to the increase.

• Realized gold sale price rose to US$4,143/oz, up US$706/oz from the prior quarter, driving a cash margin of US$2,395/oz and notional operating cash flow of US$252 million.

• Net cash and bullion ended at US$817 million, up US$62 million sequentially, with liquidity at US$1.2 billion including a US$400 million undrawn debt facility.

• Strategic portfolio changes included a 73% increase in Nyanzaga ore reserves to 4.0Moz and the sale of the Meyas Sand Gold Project for US$260 million.

• First gold was produced from CMA Underground at Yaouré, with project milestones achieved at Nyanzaga.

Financial highlights

• Group gold sales totaled 96,260 oz at an average realized price of US$4,143/oz, up US$706/oz from Q2 FY26.

• Weighted average all-in site cost (AISC) decreased to US$1,748/oz from US$1,800/oz last quarter.

• Notional operating cash flow from operations was US$252 million for the quarter.

• Interim dividend of US$0.05/share (US$46 million), up 100% year-over-year; share buyback program ongoing, with US$18 million executed.

• Cash and bullion increased to US$817 million; liquidity at US$1.2 billion, with additional listed securities valued at US$254 million.

Outlook and guidance

• FY26 gold production guidance maintained at 400,000–440,000 oz, with all-in site cost guidance of US$1,600–US$1,760/oz.

• Nyanzaga project remains on track for first gold in January 2027; project 48% complete and on budget.

• Yaouré: 168,000–184,000 oz at US$1,620–US$1,790/oz; Edikan: 154,000–169,000 oz at US$1,470–US$1,620/oz; Sissingué: 78,000–87,000 oz at US$1,810–US$2,000/oz.

• CMA Underground commercial production expected in Q3 FY27.

• Guidance for Yaouré remains at the lower half of the published range, with CMA Underground ounces included.