Perseus delivers strong production, cash flow for the September quarter

Africa-focused gold miner Perseus Mining again achieved strong production and cash flow for the quarter ended September 30 – the first quarter of its 2025 financial year – with output having increased to 121 290 oz and cash flow to $127-million, compared with output of 120 929 oz and cash flow of $117-million in the quarter ended June 30.

The ASX-listed company has three operating mines Yaouré and Sissingué ,in Côte d’Ivoire, and Edikan, in Ghana, and is developing the CMA Underground project, at Yaouré and the recently acquired Nyanzaga project, in Tanzania. A final investment decision on these two projects is expected to be made towards the end of this year.

During the September quarter, Yaouré produced 56 458 oz of gold – a 2.5% quarter-on-quarter increase. Production at the Sissingué mine was, however, lower at 17 066 oz, compared with the 18 397 oz produced in the June quarter.

Edikan, meanwhile, also delivered higher production, at 47 766 oz, compared with the 47 337 oz produced in the June quarter.

The three operations had an average production cost of $991/oz for the September quarter, compared with $941/oz in the June quarter, while all-in sustaining costs (AISC) increased to $1 201/oz, compared with $1 173/oz in the June quarter.

Gold sales also decreased to 108 895 oz, compared with 141 930 oz in the June quarter. The weighted average gold price realised was, however, higher at $2 249/oz, compared with the average price of $2 117/oz in the June quarter.

Perseus’s average cash margin for the quarter was $1 048/oz, resulting in the notional operating cash flow of $127-million.

Market guidance for the six months to end March 31, 2025, remains unchanged at between 220 000 oz and 260 000 oz, at an AISC of between $1 230/oz and $1 330/oz.