Perseus Mining Updates Mineral Resources and Ore Reserves with Significant Increases

Strategic Insights -

Perseus Mining Limited has announced substantial updates to its Mineral Resources and Ore Reserves, citing an increase in gold production as a result of strategic portfolio optimization. The company's focus on expanding its resource base and mining operations has led to significant gains, with Measured and Indicated Mineral Resources rising to 7.8 million ounces of gold. The updated estimates also reflect a 2.1 million ounce increase in Ore Reserves, demonstrating the company's commitment to balancing growth with cash margin generation.

Key Takeaways:

  • Perseus Mining's Measured and Indicated Mineral Resources have increased to 7.8 million ounces of gold as of June 30, 2025, a rise from 4.9 million ounces reported at the end of June 2024.
  • The company's Proved and Probable Ore Reserves have increased to 5.0 million ounces of gold, a significant increase from 2.9 million ounces stated last year.
  • The updated estimates exclude the Foreign/Historical Estimate for the Meyas Sand Gold Project (MSGP) in Northern Sudan, which includes Indicated Mineral Resources of 3.3 million ounces of gold and Probable Mineral Reserves of 2.9 million ounces of gold.
  • The company's annual planning cycle, which involved reassessing growth opportunities within its portfolio, has led to a 2.1 million ounce increase in the company's Ore Reserve estimate compared to figures reported at June 30, 2024.
  • Perseus Mining's focus on expanding its resource base and optimizing its mining operations has led to significant gains in Ore Reserves.
  • The company operates three gold mines and is developing a fourth in Tanzania.

Statistics:

  • 7.8 million ounces of gold in Measured and Indicated Mineral Resources as of June 30, 2025.
  • 5.0 million ounces of gold in Proved and Probable Ore Reserves.
  • 2.1 million ounce increase in Ore Reserve estimate compared to June 30, 2024.
  • 3.3 million ounces of Indicated Mineral Resources at the Meyas Sand Gold Project (MSGP) in Northern Sudan.
  • 2.9 million ounces of Probable Mineral Reserves at the Meyas Sand Gold Project (MSGP) in Northern Sudan.

Sources:

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