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Perseus Mining Limited (ASX:PRU)

ALERT: Price-sensitive ASX Announcement for PRU
Current share price for PRU : $4.650 -1.01 (-17.84%)+
Announcement
Release
20 Feb 2026 8:17AM
Price at Release
$5.660
Full Release
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Summary
Perseus Mining Limited has announced an increase in Ore Reserves for the Nyanzaga Gold Project in Tanzania to 4.0 Moz, marking a 73% increase from the 2.3 Moz reported in April 2025. The mine's life has been extended to 16 years with production exceeding 200,000 ounces of gold annually for 14 years. The increase is supported by extensive drilling and technical studies. The project has an estimated average All-In Site Cost (AISC) of US$1,621/oz. The financial evaluation suggests a post-tax NPV10% of US$864 million at a gold price of US$3,000/oz, with a 28.8% IRR. Perseus holds an 80% interest in the project, with the Tanzanian Government holding a 20% free carried interest. The project is situated in the Sukumaland Greenstone Belt and involves open-pit mining with a process plant utilizing crushing, grinding, and cyanide leaching.
Key Points
  • Ore Reserves increased to 4.0 Moz for Nyanzaga Gold Project.
  • Mine life extended to 16 years with over 200,000 ounces produced annually.
  • 73% increase in Ore Reserves from April 2025 report.
  • Estimated AISC of US$1,621/oz.
  • Post-tax NPV10% of US$864 million at US$3,000/oz gold price.
  • 28.8% Internal Rate of Return.
  • Perseus holds an 80% interest; Tanzanian Government holds 20%.
  • Project located in Sukumaland Greenstone Belt.
  • Open-pit mining with process plant using cyanide leaching.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.