Perseus Mining reported a 24% year-over-year increase in operating cash flow to a record $666 million for fiscal 2026, supported by a 19% rise in revenue to $1.5 billion and a 47% jump in the average realized gold price to $3,693 per ounce.
Earnings per share grew 17% to 31.73 cents, while profit before tax increased 27% to $716 million. EBITDA rose 16% to $861 million, and cash margins strengthened to $1,943 per ounce, up $635 from the prior year. The company’s all-in site costs climbed to $1,750 per ounce, reflecting higher operational expenses amid planned mine transitions.
Gold production totaled 404,998 ounces, a decline from 496,551 ounces in fiscal 2025, attributed to mine transitions. Perseus maintained a strong balance sheet with net cash and bullion of $1.034 billion and total liquidity of $1.434 billion, including $400 million in undrawn debt facilities.
Shareholder returns reached a record $413.6 million, including an 87% increase in the full-year dividend to A$14.0 cents per share, totaling A$187 million. The company executed A$127 million in share buybacks during the year and approved an expanded A$350 million program for fiscal 2027. A proposed special distribution of approximately A$100 million is planned following the sale of Sudanese assets.
Resource growth remained robust, with proved and probable ore reserves rising 40% to 7.0 million ounces and measured and indicated mineral resources up 37% to 10.6 million ounces. Exploration spending is set to double to $70–80 million in fiscal 2027.
The Nyanzaga project in Tanzania is 67% complete, with $311 million in construction costs incurred against a $483 million budget. First gold production remains on track for January 2027. For fiscal 2027, Perseus guided production to 420,000–480,000 ounces, with all-in site costs expected between $1,835 and $2,070 per ounce.
The company also reported a 0.91 total recordable injury frequency rate, below its 1.0 target, and achieved zero lost-time injuries. Economic value distributed to stakeholders reached $1.19 billion, up from $813 million in the prior year.
