Perseus Mining reports 40% increase in proved and probable reserves
Key Takeaways
- •Measured and Indicated mineral resources increased to 10.6 million ounces of gold, up 37% from the prior year.
- •Proved and Probable ore reserves rose to 7.0 million ounces of gold, up 40% year on year.
- •Nyanzaga now contributes 4.1 million ounces of ore reserves and is central to the company’s next production phase.
- •At Yaouré, reserve growth came from the Yaouré pit, while Edikan and Sissingué replaced mined depletion to maintain reserve life.
- •Perseus said it will expand its organic drilling program in FY27 to continue growing mineral resources.
Perseus Mining (ASX: PRU) has released updated estimates for its mineral resources and ore reserves, with higher numbers across several projects.
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The group’s Measured and Indicated (M&I) mineral resources now total 10.6 million ounces (Moz) of gold, up 2.9 Moz, or 37%, from the 2025 M&I mineral resources.
Proved and Probable Ore Reserves for the group now total 7.0 Moz of gold, representing an increase of 2.0 Moz, or 40%, compared with the 2025 ore reserve.
As part of its annual planning cycle, the company reassessed the growth opportunities available within its portfolio, with an approach focused on optimising the portfolio rather than fixed investment targets for each asset.
Managing Director and Chief Executive Officer Craig Jones said the company has sought to balance investment in growth opportunities with the cash margin generated by the business.
“This is another year of strong growth in Perseus’s mineral resource and ore reserve base,” Mr Jones said.
“Growing our Measured and Indicated mineral resources by 37% to 10.6 million ounces and our Proved and Probable ore reserves by 40% to 7.0 million ounces reflects Perseus’s ongoing value generation through extending the life of its mines through exploration and reflects the quality of the exploration and technical work done by our teams.”
Mr Jones said Nyanzaga is now firmly established as a cornerstone of the Perseus portfolio, contributing 4.1 million ounces of ore reserves and underpinning the next phase of the company’s production growth as the project advances toward first gold.
“At Yaouré, the net addition to reserve was driven from Yaouré pit, while at Edikan and Sissingué we continue to replace mining depletion, maintaining reserve life at both operations.
“Our mineral resources continue to grow with our ongoing organic drilling activities, with an increased drilling program planned for FY27.”
Perseus’s total M&I mineral resources as at 30 June 2026 are estimated at 270.3 million tonnes grading 1.22 grams per tonne (g/t) gold, containing 10.6 Moz of gold. That compares with the 30 June 2025 estimate of 185.9 million tonnes grading 1.30 g/t Au for 7.8 Moz of gold.
The Mineral Resource Statement accounts for mining depletion of in-situ mineral resources and is reported inclusive of ore reserves.
Inferred Resources are 57.5 million tonnes grading 1.4 g/t Au for 2.5 Moz of gold, compared with the 30 June 2025 estimate of 39.9 million tonnes grading 1.5 g/t Au for 1.9 Moz of gold.
PRU was up 8.65% to $6.66. Market capitalisation was $8.135 billion.
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