By: Mining.com.au

Perseus Mining (ASX:PRU) has reported a strong June 2026 quarter, increasing its cash and bullion position to more than US$1 billion ($1.43 billion).

Operating in West Africa, the company produced 109,013 ounces of gold (Au) during the quarter, with all-in sustaining costs (AISC) of US$1,941 per ounce Au. That gave Perseus an average cash margin of US$2,145 per ounce Au.

The result helped deliver US$769 million in operational cash flow for FY26, taking its cash and bullion holdings to US$1.03 billion. The company also has liquid securities valued at US$233 million.

In response, management has increased the share buyback to $150 million.

Perseus has a market capitalisation of approximately $6.5 billion, with shares trading at around $4.89.

The company has maintained cost guidance of US$1,835–2,070 per ounce and a production range of 420,000–480,000 ounces for FY27.

Managing Director and CEO Craig Jones says:

“This was a quarter of significant milestones for Perseus — first stoping ore from CMA Underground, a first for both Perseus and Côte d’Ivoire, an outstanding safety achievement at Nyanzaga, and cash and bullion passing US$1 billion for the first time.

“Looking ahead, FY27 will be a transformational year for Perseus as we bring two major growth projects — CMA Underground and Nyanzaga — through to commercial production alongside our existing operations.”

Clearly, at the current gold price, Perseus Mining runs a very profitable business.