Perseus Mining Reports 92,551 Ounces of Gold Output and $900 Million Cash Balance

Perseus Mining reported production of 92,551 troy ounces of gold in the quarter ended September 30, 2026, and said it held $900 million in cash and bullion as it prepared to bring a new mine into operation in Tanzania.

The Australia-based company, which operates mines in Côte d'Ivoire and Ghana, released its quarterly operating update on October 27. It said production exceeded its plan for the first quarter of its 2027 financial year. All-in site costs were $2,035 per ounce of gold produced, a measure that includes a broader set of operating expenses than direct extraction costs.

Perseus reported a notional operating cash-flow measure of $171 million for the quarter. This is a company-defined operating indicator and should not be interpreted as audited free cash flow. In addition to its cash and bullion, the group reported listed liquid securities valued at $338 million. The company described its balance sheet as debt-free.

Its Nyanzaga project in Tanzania had reached 88.4% overall construction progress by the end of the quarter, the company said. First gold production remains scheduled for January 2027, but that date is a forward-looking target rather than an achieved milestone.

At the Yaouré operation in Côte d'Ivoire, Perseus said the CMA underground development had reached commercial production. The company's existing operations also include Edikan in Ghana and Sissingué in Côte d'Ivoire.

Perseus maintained its financial-year 2027 production guidance of 420,000 to 480,000 ounces, with all-in site costs projected at $1,835 to $2,070 per ounce. These forecasts depend on mine performance, development schedules and commodity-market conditions. The company also noted that the September-quarter production figure was lower than its June-quarter total of 109,013 ounces.

The update provides investors with a completed quarter of operating data and a progress report on the planned Tanzania expansion. The mining company has not yet reported Nyanzaga as an operating mine or included its anticipated future output as completed production.