How Investors May Respond To Perseus Mining (ASX:PRU) Reaffirming 2026 Output After Q2 Cost Disclosure

• Perseus Mining has reported past group production and sales results for the second quarter, half year and calendar year ended December 31, 2025, including quarterly gold production of 78,641 ounces and sales of 86,607 ounces at an All-In Site Cost of US$1,800 per ounce.
• The company also reaffirmed its financial year 2026 gold production guidance of 400,000–440,000 ounces, giving investors clearer visibility on expected output levels.
• We will now examine how these production figures and the reaffirmed 2026 guidance shape Perseus Mining’s investment narrative for investors.

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What Is Perseus Mining’s Investment Narrative?

For Perseus Mining, the investment case still hinges on believing in the durability of its cash generation from gold and the discipline with which that cash is allocated. The latest quarter shows 78,641 ounces produced and 86,607 ounces sold at an AISC of US$1,800 per ounce, which looks uncomfortable against prior FY2026 cost guidance of US$1,460 to US$1,620. The reaffirmed 400,000 to 440,000 ounce production guidance suggests volumes remain on track, so the immediate impact on the near term production catalyst is muted, but the cost line now becomes the key swing factor for margins and sentiment. With a strong recent share price run and a management team still relatively new, any sign that higher costs are sticking rather than temporary could quickly shift how investors view risk and value here.

However, investors should be aware of the emerging tension between guided and reported costs.

Perseus Mining’s shares are on the way up, but could they be overextended? Uncover how much higher they are than fair value.

Exploring Other Perspectives

Nine fair value estimates from the Simply Wall St Community span from around A$3.18 to A$18.56 per share, underlining how far apart individual views can be. Set that against the recent AISC print of US$1,800 per ounce and the reaffirmed production guidance, and you can see why some focus on volume resilience while others worry more about margin pressure and the potential impact on future company performance.

Explore 9 other fair value estimates on Perseus Mining – why the stock might be worth less than half the current price!

Build Your Own Perseus Mining Narrative

Disagree with this assessment? Create your own narrative in under 3 minutes – extraordinary investment returns rarely come from following the herd.

• A great starting point for your Perseus Mining research is our analysis highlighting 4 key rewards that could impact your investment decision.
• Our free Perseus Mining research report provides a comprehensive fundamental analysis summarized in a single visual – the Snowflake – making it easy to evaluate Perseus Mining’s overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data
and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your
financial situation. We aim to bring you long-term focused analysis driven by fundamental data.
Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.
Simply Wall St has no position in any stocks mentioned.

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