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Highlights
- PRU’s profit after tax increased by 22% YoY to USD 201 million in H1FY25.
- The company reaffirms gold production guidance of nearly 470,000 – 505,000 ounces in FY25, with an AISC of USD 1,250 – 1,280 per ounce.
- CMA underground mines at Yaouré and Nyanzaga project are expected to extend mine life beyond FY25.
Perseus Mining Ltd (ASX:PRU) is a West African-focused gold production, development, and exploration company. The company operations collectively enable it to produce over 500,000 ounces of gold annually, positioning it as a mid-tier gold producer.
In the first half of the financial year 2025 (H1FY25), PRU’s profit after tax increased 22% year-over-year (YoY) to USD201.08 million and operating cash flow increased 17% YoY to USD 248 million. The average gold price rose by 13% in the first half, driven by increased gold production during the period.
Recent Business Update
In Q3FY25, gold production declined by 8% YoY, reaching 121,605 ounces. However, the average gold sale price increased by USD 32 to USD 1,209 per ounce. The all-in sustaining cost (AISC) also rose by USD 82 to USD 1,209 per ounce, narrowing the cash margin by 4%. The company maintained a significant balance sheet with zero debt and an undrawn credit facility of USD 300 million.
Company Outlook
The company expects to record gold production of nearly 470,000 – 505,000 ounces in FY25, with an AISC of USD 1,250 – 1,280 per ounce.
Perseus is advancing the development of the CMA underground mines at Yaouré and is progressing the Nyanzaga project towards construction. Both projects are expected to improve production and extend mine life beyond FY25.
Since 2020, the gold price has surged by 57%, significantly boosting profit margins for producers. This rapid price appreciation has generated significant free cash flow across the industry. Additionally, increased gold reserves held by central banks have provided structural support for gold prices and contributed to greater stability in the mining sector.
Top 10 Shareholders of PRU
The top 10 shareholders of PRU’s together form 36.82% of the total shareholding. Van Eck Associates Corporation and Dimensional Fund Advisors, L.P. hold maximum stakes in the company at 7.59% and 6.03%, respectively.
Share performance of PRU
PRU shares charged 1.22% higher at AUD 3.32 per share on 14 May 2025. Over the past year, PRU’s share price surged 46.90% and in the last three months, share price has increased by almost 21.17%.
52-week high of PRU is AUD 3.69, recorded on 7 May 2025 and 52-week low is AUD 2.23, recorded 14 May 2024.
Support and Resistance Summary

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, and currency, is 14 May 2025. The reference data in this report has been partly sourced from EODHD/Others.
Technical Indicators Defined:
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.






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