Full Year 2026 Perseus Mining Ltd Earnings Call Transcript
Key Points
- Record financial performance with operating cash flow up 24% and earnings per share up 17%.
- Strong balance sheet with net cash and bullion of over $1 billion and $400 million undrawn debt capacity.
- Increased mineral resources by 37% and ore reserves by 40%, with successful reserve replacement at existing operations.
- Enhanced capital management framework with increased dividends, upsized buyback, and proposed special dividend, returning $218 million to shareholders.
- Nyanzaga Gold Project on track for first gold in January 2027, adding a fourth cash-generating asset.
- Higher cost of sales due to increased royalties and transition to lower-grade ore sources at Yaouré and Edikan.
- Increased pre-production mining costs at Nyanzaga, with an additional $20-30 million spend expected.
- Tax holiday at Yaouré ended, leading to higher taxes and reduced profitability.
- Supply chain issues have been more complicated over the past 3-6 months, though currently manageable.
- FY27 cost guidance is higher, with all-in site costs expected to rise to $1,835-$2,070 per ounce.
(audio in progress) Perseus Mining Managing Director and CEO, Craig Jones. Thank you, Craig.
Thanks very much, Nathan, and welcome to Perseus Miningâs webinar to discuss our annual report for the financial year ending June 30, 2026. I am joined today on the call by our Chief Financial Officer, Lee-Anne de Bruin.
Le-Anne and her team have been working very hard to produce the large number of financial documents that have been released today. So a big thank you to her and her team members and the people across Australia and Africa that have helped pull all these results together. I also want to thank Mel Pollard, our Chief Sustainability Officer, and her team for the work that they have done on preparing our inaugural climate report, which is part of our annual report and our sustainable development report, which was also released today.
In just a moment, I will ask Le-Anne to take you through the details of the financial report, and -- but I will share a few thoughts
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