December 2025 Quarter Report

Executive Summary

• Perseus Mining reported Q2 FY26 gold production of 88,888 oz at an All‑In Site Cost (AISC) of US$1,800 per ounce and generated notional operating cash flow of US$145 million.
• Cash & bullion balance stands at US$755 million with liquid listed securities of US$229 million.
• Updated 2026 production and cost guidance was provided, reflecting higher gold price assumptions and a negotiated 2 % royalty increase in Côte d’Ivoire.

Key Details

• Production: 88,888 oz of gold produced in Q2 FY26; total gold recovered for the quarter 188,841 oz (including prior periods).
• Cost Metrics: AISC = US$1,800/oz; All‑In Site Cost = US$1,800/oz; Average cash margin = US$1,637/oz.
• Cash Flow: Notional operating cash flow of US$145 million for the quarter; total cash & bullion balance US$755 million plus US$229 million in liquid securities.
• Safety Incident: On 26 January, two contract employees were killed in an off‑site vehicle accident.
• Project Updates:
• CMA Underground delivered first ore in January 2026.
• Nyanzaga project progressing; first production targeted for Jan 2027.
• Ongoing life‑extension work via resource conversion and drilling.
• Guidance (FY26):
• Yaouré: 168,000–184,000 oz @ US$1,620–1,790/oz AISC.
• Edikan: 154,000–169,000 oz @ US$1,470–1,620/oz AISC.
• Sissingué: 78,000–87,000 oz @ US$1,810–2,000/oz AISC.
• Group Total: 400,000–440,000 oz @ US$1,600–1,760/oz AISC.
• Assumptions & Updates: Guidance reflects increased gold price assumptions and a 2 % royalty increase in Côte d’Ivoire (Yaouré & Sissingué). Mining volumes at Bagoé (Sissingué) moved forward from FY27 to FY26.
• Technical Statements: Production targets are underpinned by JORC‑compliant Ore Reserves; no material changes to prior technical reports.
• Capital Structure: Ordinary shares – 1,351,230,319; Performance rights – 8,654,248.

Notable Quotes

(No direct quotes were included in the release.)