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Continued strong performance of Perseus Mining’s operations grows cash & bullion balance to US$827 million
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Perth, Oct. 27, 2025 (GLOBE NEWSWIRE) — SEPTEMBER 2025 QUARTER REPORT
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Perseus Mining’s sustained operational performance grows
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cash & bullion balance to US$837 million
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PERTH, Western Australia/October 27, 2025/Perseus Mining Limited (“Perseus” or the “Company”) (TSX & ASX: PRU) reports on its activities for the three months’ period ended September 30, 2025 (the “Quarter”). Below is a summary of the release. The full report is available at www.perseusmining.com, www.sedarplus.ca and www.asx.com.au.
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Operating performance
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- 12-month rolling average TRIFR of 0.60 well below industry average.
- Gold produced totalled 99,953 ounces at an AISC of US$1,463 per ounce.
- Average cash margin of US$1,612 per ounce of gold produced, giving notional operating cashflow of
US$161 million. - Cash and bullion of US$837 million, plus liquid listed securities of US$134 million.
- CMA Underground development commenced at Yaouré.
- Nyanzaga project development progressing to plan with first production planned for March Quarter 2027.
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FY26 Outlook
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- Production and AISC market guidance remains unchanged for the June 2026 Financial Year (FY26) at 400,000 – 440,000 ounces at AISC of US$1,460 – 1,620 per ounce.
- Share buyback programme renewed, with up to A$100 million to be invested over a 12-month period.
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Corporate
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- Jeff Quartermaine retired as Perseus’s Managing Director and Chief Executive Officer on September 30, 2025 with Craig Jones assuming the role on October 1, 25.
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Key operating indicators and highlights for the September 2025 quarter (Q1 FY26) include:
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| PERFORMANCE INDICATOR | UNIT | MARCH 2025 QUARTER | JUNE 2025 QUARTER | JUNE 2025 HALF YEAR | SEPTEMBER 2025 QUARTER | CALENDAR 2025 YEAR TO DATE |
| Gold recovered | Ounces | 121,605 | 121,237 | 242,843 | 99,953 | 342,795 |
| Gold poured | Ounces | 122,915 | 119,868 | 242,782 | 103,566 | 346,349 |
| Production Cost | US$/ounce | 977 | 1,038 | 1,008 | 1,152 | 1,050 |
| All-In Site Cost (AISC) | US$/ounce | 1,209 | 1,417 | 1,313 | 1,463 | 1,366 |
| Gold sales | Ounces | 117,585 | 131,242 | 248,826 | 101,589 | 350,415 |
| Average sales price | US$/ounce | 2,462 | 2,977 | 2,734 | 3,075 | 2,832 |
| Notional Cashflow | US$ million | 152 | 189 | 345 | 161 | 503 |
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Competent Person Statement
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All production targets referred to in this release are underpinned by estimated Ore Reserves which have been prepared by competent persons in accordance with the requirements of the JORC Code.
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The information in this report that relates to the Mineral Resources and Ore Reserve was updated by the Company in a market announcement “Perseus Mining updates Mineral Resources and Ore Reserves” released on 21 August 2025. The Company confirms that all material assumptions underpinning those estimates and the production targets, or the forecast financial information derived therefrom, in that market release continue to apply and have not materially changed.
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The Company confirms that the material assumptions underpinning the estimates of Ore Reserves described in “Technical Report — Edikan Gold Mine, Ghana” dated 6 April 2022, “Technical Report — Yaouré Gold Project, Côte d’Ivoire” dated 18 December 2023, “Technical Report — Sissingué Gold Project, Côte d’Ivoire” dated 29 May 2015, and “Technical Report — Nyanzaga Gold Project, Tanzania” dated 10 June 2025 continue to apply.
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