Perseus gold production up 9% in December quarter, but higher costs loom too

Perseus Mining Ltd (ASX:PRU) recorded a December quarter of stronger production and gold sales – as well as slightly higher costs as a result of accelerated waste stripping at the Yaouré gold mine in Cote d’Ivoire.

Production rose 9% during the quarter, reaching 132,419 ounces, while all-in-site costs (AISC) for the same period were US$1,127 per ounce; up from US$1,201.

Production for the first half of the 2025 fiscal year and the 2024 calendar year is at the higher end of guidance, while costs for the same periods were towards the lower end of guidance.

Gold sales were also higher by as much as 20% – comprising 136,623 ounces during the December quarter – with this explained by sales of gold whose shipment had been delayed in the prior comparable period.

Looking ahead, market guidance for the June 2025 half-year is 215,000 to 220,000 ounces at US$1,360 to US$1,435 per ounce, while guidance for the 2025 fiscal year is 469,709 to 504,709 ounces at US$1,250 to US$1,280 per ounce.

Another notable development during the December quarter was Perseus’ Final Investment Decision (FID) to develop the Yaouré gold mine.

Perseus has been trading at $2.73.

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