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Highlights

  • Presidential Decree granted authorising development and mining operations at CMA underground project.
  • First ore production targeted for January 2026 and commercial production expected by March 2027.
  • Investment of US$170M to extend Yaouré mine life until at least 2035.

Perseus Mining Limited (ASX:PRU) is a gold producer with operations in West Africa. The company operates the Yaouré Gold Mine in Côte d’Ivoire, alongside other assets in the region. Perseus is focused on expanding production and extending mine life through development projects and exploration.

Business Updates

Perseus Mining informed that on 18 September 2025, it has received a Presidential Decree authorising the development and operation of the CMA underground project at the Yaouré Gold Mine in central Côte d’Ivoire. The approval followed the earlier clearance of the Environmental and Social Impact Assessment and the issuance of a Ministerial Arrêté in May 2025. These were necessary steps before commencing underground development.

All infrastructure projects related to the underground mine have been completed. Development of the declines will begin immediately following commissioning of equipment by Byrnecut, Perseus’s specialist underground mining contractor.

The CMA underground operation, located below the existing open pit, is expected to extend the Yaouré mine life until at least 2035 based on current Mineral Resources and Ore Reserves.

Business Outlook

The company has allocated an investment of USD 170 million for the CMA underground project. The company is targeting first ore production in January 2026, with commercial production scheduled for March 2027.

Perseus Mining expects the CMA underground development to enhance Yaouré’s production profile and extend its operating life by nearly a decade. With key approvals secured, the project has moved into the development phase, supported by completed infrastructure and equipment availability.

Share Performance

The company’s share price gained 1.91% from the previous session to AUD 4.27 per share at the time of writing on 19 September 2025. The stock has traded between AUD 2.45 and AUD 4.41 over the past 52 weeks, giving the company a market capitalisation of AUD 5.66 billion.