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Highlights

  • Perseus Mining share price rose 5.39% on 20 February 2026 following operational and financial updates.
  • Nyanzaga Ore Reserve increased 73% to 4.0 million ounces.
  • H1 FY26 profit after tax reached US$185.5 million.
  • Interim dividend doubled to AUD 5.00 cents per share.
  • Net cash and bullion stood at US$755 million at period end.

Perseus Mining Ltd (ASX:PRU) saw its share price rise 5.39% to AUD 5.96 on 20 February 2026, extending its six-month gain to 69.26%, as the company reported a higher Ore Reserve at the Nyanzaga Gold Project and released its H1 FY26 financial results with a dividend increase.

The stock traded between AUD 5.72 and AUD 6.07 during the session, compared with its 52-week range of AUD 2.81 to AUD 6.60. The company carried a P/E ratio of 15.74, with a dividend yield of 0.88%.

Ore Reserve Expansion Extends Project Life

Perseus Mining reported an updated Ore Reserve of 4.0 million ounces for the Nyanzaga Gold Project in Tanzania. This marks a 73% increase from the 2.3 million ounces outlined in the April 2025 feasibility study.

The updated reserve supports a 16-year mine life, including 14 years of production above 200,000 ounces per annum. The increase follows a further cutback to a large-scale open-pit mining operation under the feasibility study plan.

H1 FY26 Profit and Revenue Growth

For the six months ended 31 December 2025, the company posted revenue of US$608.5 million, reflecting a 5% rise on the prior corresponding period.
Profit after tax came in at US$185.5 million, while EBITDA reached US$315.5 million.

Operating cash flow totalled US$193.4 million, and the company reported net cash and bullion of US$755 million at the end of the period.

Dividend Doubles to Record Interim Payout

The board declared an interim dividend of AUD 5.00 cents per share, representing a 100% increase from the AUD 2.50 cents paid in H1 FY25.

The dividend implies a 0.91% yield based on the volume-weighted average share price of AUD 5.499 as at 31 December 2025, with an estimated payout of US$47.3 million (AUD 67.6 million).

Key dates:

  • Ex-date: 5 March 2026
  • Record date: 6 March 2026
  • Payment date: 2 April 2026

Liquidity Position and Debt Facility

During the period, Perseus refinanced and increased its undrawn debt facility to US$400 million.
The company also held US$228.7 million in marketable shares, adding to its overall liquidity position.

FY26 Production Guidance Maintained

Perseus confirmed its FY26 production guidance of 400,000 to 440,000 ounces at an all-in sustaining cost of US$1,600 to US$1,760 per ounce.

FAQs

  1. Why did the ASX:PRU share price increase on 20 February 2026?
    The move followed the announcement of a higher Ore Reserve at the Nyanzaga project, H1 FY26 profit of US$185.5 million, and a doubled interim dividend.
  2. What is the updated mine life for the Nyanzaga Gold Project?
    The project’s mine life has been extended to 16 years, including 14 years of production above 200,000 ounces per year.
  3. What dividend has Perseus Mining declared for Hd1 FY26?
    The company declared an interim dividend of AUD 5.00 cents per share, payable on 2 April 2026.