Perseus Mining lifts gold production and maintains strong balance sheet in March 2026 quarter

The Perseus Mining Ltd (ASX: PRU) share price is in focus today after reporting a strong March quarter, with gold production jumping to 107,144 ounces and cash and bullion holdings lifting to US$817 million.

What did Perseus Mining report?

• Gold production for Q3 FY26 reached 107,144 ounces, up 21% from the prior quarter
• All-in site costs (AISC) averaged US$1,748 per ounce, down from US$1,800 in Q2 FY26
• Average gold sales price was US$4,143 per ounce
• Operating cashflow for the quarter was US$252 million, with cash and bullion at US$817 million
• Nyanzaga ore reserves grew 73% to 4.0 million ounces, with project development on track for first production in January 2027
• Perseus sold its 70% stake in the Meyas Sand Gold Project for US$260 million cash

What else do investors need to know?

Perseus’s three West African gold mines, Yaouré and Sissingué in Côte d’Ivoire and Edikan in Ghana, all increased production this quarter. The company also poured its first gold from the new CMA Underground at Yaouré, with commercial production expected in Q3 FY27.

During the quarter, the Nyanzaga development project in Tanzania remained on budget and schedule, achieving 48% completion and maintaining strong safety performance. Perseus also boosted its regional growth with a 9.9% equity stake in Aurum Resources and continued exploration at all key sites.

AUS$46 million was returned to shareholders via dividends, and an on-market buyback continued. Perseus ended the period debt-free and reported investments in listed securities of US$254 million.

What’s next for Perseus Mining?

Perseus has reaffirmed its FY26 production guidance of 400,000–440,000 ounces at an AISC of US$1,600–1,760 per ounce. The company is targeting commercial production from the CMA Underground at Yaouré in Q3 FY27 and first gold from the Nyanzaga project in January 2027.

Management remains focused on disciplined capital allocation, progressing organic projects, and ongoing exploration, while maintaining strong safety, sustainability and community engagement across all regions.

Perseus Mining share price snapshot

Over the past 12 months, Perseus Mining shares have risen 70%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 12% over the same period.

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The post Perseus Mining lifts gold production and maintains strong balance sheet in March 2026 quarter appeared first on The Motley Fool Australia.

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Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.