KEY POINTS
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Perseus Mining delivered record FY2026 profit after tax of $480.5-million
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The company rewarded shareholders with an 87% increase in the full-year dividend to A$0.14 per share.
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Project development advanced significantly, with the Nyanzaga gold project in Tanzania on track for first gold in January 2027
Perseus Mining has closed the 2026 financial year with a set of record financial results, driven by surging gold prices and disciplined operational execution.
The ASX-listed gold producer reported a 14% increase in profit after tax to $480.5-million, underpinned by a 19% rise in revenue to $1.48-billion. Earnings before interest, taxes, depreciation and amortisation (Ebitda) climbed 16% to $860.5-million, while earnings per share rose 17% to A$0.32. Net operating cash flow surged 24% to $666.4-million, equating to A$0.49 per share.
The company’s strong cash generation was supported by an average realised gold price of $3,693 per ounce during the year, up $1,150 per ounce from the prior year, which significantly expanded margins.
As at June 30, Perseus held $1.03-billion in cash and bullion ($0.77 per share) alongside $400-million in undrawn debt facilities, providing substantial financial firepower.
Record shareholder returns
Reflecting its robust financial position, Perseus declared a final dividend of A$0.09 per share, bringing the full-year dividend to A$0.14 – an 87% increase year-on-year. This was complemented by A$126-million in on-market share buybacks completed during the year.
The company also updated its capital management framework, raising its minimum dividend from 1% of yield to 20% of free cash flow. In addition, Perseus announced a new on-market share buyback programme of up to A$350-million. The company further proposed a A$100-million distribution from excess cash generated by the divestment of the Meyas Sands project in Sudan.
The 2026 financial year was also marked by significant project advancement. Perseus’ Nyanzaga gold project in Tanzania remains on track for first gold pour in January 2027. Overall project progress reached 67% at the end of June, with $328.5-million (63%) of the approved $523-million budget incurred and $95-million (18%) committed. All major construction procurement is now complete and all site installation contracts have been awarded, with the project construction capital and operational readiness cost to completion remaining within the $483-million budget.
In Côte d’Ivoire, Perseus achieved first gold pour from the CMA underground development at the Yaouré gold mine during the year. The CMA underground project is the first mechanised underground mine in Côte d’Ivoire and represents Perseus’ first underground operation.
