By: Creamer media

Perseus reports that production for the third quarter of the company’s 2026 financial year totalled 107 144 oz – 21% more than the 88 888 oz achieved in the second quarter of the financial year.

Higher production was achieved across all three of its operating gold mines – Yaouré and Sissingué, in Côte d’Ivoire, and Edikan, in Ghana.

The weighted average production cost was $1 238/oz, while the weighted average all-in-site cost (AISC) was $1 748/oz.

The weighted average AISC for the quarter was lower than the AISC of $1 800/oz for the second quarter, owing to the higher production.

Gold sales from all three operations totalled 96 260 oz – 9 653 oz more than in the second quarter, again as a result of the higher production achieved.

The weighted average realised gold price was $4 143/oz – $706/oz more than the second quarter price of $3 437/oz.

Perseus’ average cash margin for the quarter was $2 395/oz, resulting in notional operating cash flow of $252-million from all operations. This was $107-million higher than in the second quarter.

Perseus explains that the group continues to closely monitor fuel supply availability, consumption levels and inventory positions to mitigate the risk of operational disruption in the short to medium term.

The company is working with its long-standing fuel suppliers in the region to assess any material impacts of the current conflict in the Middle East.

The company says there were no operational disruptions to the group’s activities during the third quarter, adding that fuel supply is expected to be sufficient to support continued operations.

Meanwhile, Perseus also reports that first gold was produced from CMA Underground at the company’s Yaouré mine during the quarter.

Development activities at CMA Underground resulted in the mining of 31 126 t of ore, of which 20 760 t were milled, producing 1 606 oz of gold. Gold sales totalled 955 oz at an average realised price of $4 006/oz.

Additionally, Perseus notes that ore reserves at its Nyanzaga gold project, in Tanzania, increased by 73% to four-million ounces. The company says the project development is on track for first production in January 2027 as planned.

Perseus also notes that it acquired a 9.9% interest in ASX-listed Aurum Resources during the quarter under review.

The company also sold a 70% group interest in the Meyas Sand gold project, in Sudan, for $260-million cash.

Perseus has maintained its production and AISC guidance for the full-year at between 400 000 oz and 440 000 oz and between $1 600/oz and $1 760/oz, respectively.