Perseus Mining Posts Record Cash Flow and Growth Plans Amid Higher Gold Prices
Perseus Mining delivered record financial performance in fiscal 2026, driven by higher gold prices and disciplined operational execution. The mid-tier African gold producer reported operating cash flow of US$666 million, a 24% year-over-year increase, with average gold sale prices reaching US$3,693 per ounce.
The company's revenue climbed 19% to US$1.5 billion as higher realized gold prices offset lower production volumes. Perseus achieved broad-based improvements across key metrics, including earnings per share, profit before tax, and EBITDA. The company's operating cash flow reached a record high of US$666 million, representing a 24% increase from fiscal 2025.
The Nyanzaga gold project in Tanzania remained on schedule and budget for first gold production in January 2027. As of June 30, 2026, the project was 67% complete, with total construction costs of US$311 million incurred. Perseus expects to invest approximately US$530 million in growth capital during fiscal 2027.