Perseus Mining (PRU) Q1 2027 earnings summary

Executive summary

• Q1 FY27 production was 92,551 oz, above plan, with US$171m notional cash flow and US$187m operating cash contribution; cash and bullion closed at US$900m with zero debt.

• CMA Underground entered commercial production on July 1; Nyanzaga was 88.4% complete and on budget and schedule for January 2027 first gold.

Financial highlights

• Gold sales were 99,661 oz at an average realized price of US$3,881/oz; average cash margin was US$1,846/oz.

• Operating cash contribution was US$187m; cash and bullion fell US$134m from US$1,034m to US$900m, comprising US$820m cash and US$80m bullion.

• Weighted average production cost was US$1,472/oz; all-in sustaining cost was US$1,855/oz versus all-in site cost of US$2,035/oz.

• Liquidity was US$1.3bn, including US$400m undrawn facilities; listed securities were valued at US$338m.

Outlook and guidance

• FY27 production guidance remained 420,000–480,000 oz at AISC of US$1,835–2,070/oz, based on US$4,000/oz gold and specified government royalties.

• Mine guidance: Yaouré 150,000–170,000 oz at US$1,955–2,205/oz AISC; Edikan 150,000–170,000 oz at US$1,700–1,920/oz; Sissingué 65,000–85,000 oz at US$1,865–2,105/oz.

• Nyanzaga guidance is ~55,000 oz for FY27, with first production targeted for January 2027 and further guidance expected in Q3 FY27; costs remain capitalized until commercial production.

• H2 output is expected to rise as Yaouré accesses higher-grade ore, CMA Underground ramps up, Edikan accesses higher grades and Nyanzaga starts production.