Perseus Mining Limited Q1 2027 Earnings Recap

Perseus delivered a quarter broadly in line with its annual production and cost guidance, despite lower production than the prior quarter. The shares were effectively flat after the release (+0.2%), reflecting a mixed quarter: gold sales and cash generation were substantial, while production eased and Yaoure’s all-in site cost was slightly above plan.

Key Takeaways

• Produced 92,551 ounces, below the prior quarter but above plan; sold 99,661 ounces at a realized price of USD 3,881 per ounce.
• Annual guidance remains 420,000–480,000 ounces at an all-in site cost of USD 1,835–2,070 per ounce. The outlook includes 55,000 ounces from Nyanzaga, expected to enter production in January.
• Group all-in site cost was USD 2,035 per ounce. Yaoure’s was USD 2,393 per ounce, slightly above plan; Edikan’s fell 11% to USD 1,738 per ounce.
• Notional cash flow was USD 171 million, and the quarter ended with USD 900 million in cash and bullion, no debt, and USD 400 million in undrawn facilities.
• Nyanzaga construction accounted for USD 110 million of the quarter’s USD 155 million growth-project investment. Perseus also proposed a AUD 100 million special distribution and had repurchased about AUD 6.6 million of shares by September-end.