
Perseus Mining June Quarter Report
Continued strong performance of Perseus Mining's operations grows
cash & bullion balance to US$827 million
PERTH, Western Australia/July 28, 2025/Perseus Mining Limited ('Perseus' or the 'Company') (TSX & ASX: PRU) reports on its activities for the three months' period ended June 30, 2024 (the 'Quarter'). Below is a summary of the release. The full report is available at
www.perseusmining.com
,
www.sedarplus.ca
and
www.asx.com.au
.
GROUP GOLD PRODUCTION AND COST GUIDANCE
Group gold production and AISC market guidance for FY26 is as follows:
Table 10: Production and AISC Guidance
The rise relative to prior periods in Perseus's guided AISC in FY25 as noted above can be attributed to a range of factors which have been considered in forecasting future operating costs, including an assumed gold price of US$2,700 per ounce for the period.
A trend of rising costs is evident in the global gold sector, including in West Africa, driven by a range of factors, not the least of which is a steady increase in royalties and indirect charges payable to host governments (and others) which are a function of prevailing gold prices. In other words, as the price of gold rises, so too do expectations by host governments and host communities of an increasing share of the higher gold prices. This occurs in the form of higher royalty and gold price linked indirect charges by governments as well as an increase in the cost of land access and contributions to community assistance funds, demanded by host communities.
Other factors that impact Perseus's operating costs include the rising cost of wages, freight costs and therefore consumables and the fact that in some operations, as they mature, haul distances and elevations increase and facilities such as tailings dams require expansion. In addition, forecast costs are impacted by site specific factors outside of Perseus's control such as at Yaouré, where an expected interruption is expected to the availability of power from the Ivorian power grid in H1 FY26 caused by planned maintenance of power stations that contribute power to the grid. It has been assumed that Perseus will be required to make significantly more use of its standby generators during this period which operate at a cost that is materially above grid power costs.
SEptember 2025 QUARTER EVENTS & ANNOUNCEMENTS
Competent Person Statement
All production targets referred to in this release are underpinned by estimated Ore Reserves which have been prepared by competent persons in accordance with the requirements of the JORC Code.
Edikan
The information in this release that relates to the Open Pit and Underground Mineral Resources and Ore Reserve at Edikan was updated by the Company in a market announcement 'Perseus Mining updates Mineral Resources and Ore Reserves' released on 21August 2024. The Company confirms that all material assumptions underpinning those estimates and the production targets, or the forecast financial information derived therefrom, in that market release continue to apply and have not materially changed. The Company further confirms that material assumptions underpinning the estimates of Ore Reserves described in 'Technical Report — Edikan Gold Mine, Ghana' dated 7 April 2022 continue to apply.
Sissingué, Fimbiasso and Bagoé
The information in this release that relates to the Mineral Resources and Ore Reserve at the Sissingué complex was updated by the Company in a market announcement 'Perseus Mining updates Mineral Resources and Ore Reserves' released on 21 August 2024. The Company confirms that all material assumptions underpinning those estimates and the production targets, or the forecast financial information derived therefrom, in that market release continue to apply and have not materially changed. The Company further confirms that material assumptions underpinning the estimates of Ore Reserves described in 'Technical Report — Sissingué Gold Project, Côte d'Ivoire' dated 29 May 2015 continue to apply.
Yaouré
The information in this release that relates to the Open Pit and Underground Mineral Resources and Ore Reserve at Yaouré was updated by the Company in a market announcement 'Perseus Mining updates Mineral Resources and Ore Reserves' released on 21 August 2024. The Company confirms that all material assumptions underpinning those estimates and the production targets, or the forecast financial information derived therefrom, in that market release continue to apply and have not materially changed. The Company further confirms that material assumptions underpinning the estimates of Ore Reserves described in 'Technical Report — Yaouré Gold Project, Côte d'Ivoire' dated 19 December 2023 continue to apply.
Nyanzaga Gold Project
The information in this report that relates to the Mineral Resources and Ore Reserve at Nyanzaga was updated by the Company in a market announcement 'Perseus Mining proceeds with development of the Nyanzaga Gold Project' released on 28 April 2025. The Company confirms that all material assumptions underpinning those estimates and the production targets, or the forecast financial information derived therefrom, in that market release continue to apply and have not materially changed. The Company further confirms that material assumptions underpinning the estimates of Ore Reserves described in 'Technical Report — Nyanzaga Gold Project' dated 10 June 2025 continue to apply.
The information in this report relating to Nyanzaga exploration results was first reported by the Company in compliance with the JORC Code 2012 and NI43-101 in a market update 'Perseus Mining Delivers Encouraging Drilling Results from its Current Drill Program at the Nyanzaga Gold Project' released on 22 July 2025. The Company confirms that it is not aware of any new information or data that materially affect the information in that market release.
Meyas Sand Gold Project
The information in this report that relates to the mineral resources and probable reserves of the Meyas Sand Gold Project was first reported by the Company in a market announcement 'Perseus Enters Into Agreement to Acquire Orca Gold Inc.' released on 28 February 2022. The Company confirms it is not in possession of any new information or data relating to those estimates that materially impacts of the reliability of the estimate of the Company's ability to verify the estimate as a mineral resource or ore reserve in accordance with Appendix 5A (JORC Code) and the information in that original market release continues to apply and have not materially changed. These estimates are prepared in accordance with Canadian National Instrument 43-101 standards and have not been reported in accordance with the JORC Code. A competent person has not done sufficient work to classify the resource in accordance with the JORC Code and it is uncertain that following evaluation and/or further exploration work that the estimate will be able to be reported as a mineral resource or ore reserve in accordance with the JORC Code. This release and all technical information regarding Orca's NI 43-101 have been reviewed and approved by Adrian Ralph, a Qualified Person for the purposes of NI 43-101.
Caution Regarding Forward Looking Information:
This report contains forward-looking information which is based on the assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management of the Company believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Assumptions have been made by the Company regarding, among other things: the price of gold, continuing commercial production at the Yaouré Gold Mine, the Edikan Gold Mine and the Sissingué Gold Mine without any major disruption, development of a mine at Nyanzaga, the receipt of required governmental approvals, the accuracy of capital and operating cost estimates, the ability of the Company to operate in a safe, efficient and effective manner and the ability of the Company to obtain financing as and when required and on reasonable terms. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used by the Company. Although management believes that the assumptions made by the Company and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any anticipated future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, the actual market price of gold, the actual results of current exploration, the actual results of future exploration, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's publicly filed documents. Readers should not place undue reliance on forward-looking information. Perseus does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
This market announcement was authorised for release by the Board of Perseus Mining Limited.
Attachment

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
27 minutes ago
- Yahoo
Why we are seeing another meme stock moment: eToro CEO
July has brought the return of the meme stock moment, led by frenzied activity in Opendoor (OPEN), Krispy Kreme (DNUT), GoPro (GPRO), and GameStop (GME). Don't count eToro co-founder and CEO Yoni Assia as surprised. "I think generally the rise of retail investors is a huge trend," Assia told me on Yahoo Finance. "We are still at the beginning of what we believe is the largest transformation of wealth in human history from older generations to younger generations." Assia is using the summer retail investor reawakening to push eToro's business into new territory. eToro said Tuesday it would debut 24-hour, five-day-a-week trading on 100 of the most popular stocks and ETFs in the market. The company will join rival Robinhood (HOOD) in trying to convince lawmakers to make stock trading around the clock. "I think 24/7 is probably going to take longer simply because the markets themselves are usually closed over the weekend, and there's still liquidity issues," Assia explained. "I think 24/5 is happening now in 2025 and 2026, and it's gradually happening across asset classes and also happening with more and more stocks available for 24/5 trading." The company also announced spot-quoted futures. It teased the launch of US-listed equities as tokens on the ethereum blockchain. eToro priced its IPO in mid-May at $52 a share, above the planned range of $46 to $50. The company raised about $310 million in the offering. Today, the stock trades around $62.50, giving the company a market cap of $5.2 billion. It has more than 40 million registered users. Robinhood and Interactive Brokers are valued at $95 billion and $111 billion, respectively. eToro was co-founded in 2007 in Israel by Yoni and his older brother, Ronen Assia. Yoni has said the company was started in his parents' garage. Ronen sits on the management team and is an executive director. The company quickly grew from its inception as new investors entered a bull market, initially raising $1.5 million at a $5 million valuation. It launched bitcoin trading in 2013, around the time of the crypto winter that depressed digital asset Sozzi is Yahoo Finance's Executive Editor and a member of Yahoo Finance's editorial leadership team. Follow Sozzi on X @BrianSozzi, Instagram, and LinkedIn. Tips on stories? Email Sign in to access your portfolio
Yahoo
27 minutes ago
- Yahoo
Southeast Asia Casting Polyurethane Market to Surpass Valuation of US$ 308.18 Million By 2033
The Southeast Asia casting polyurethane market is defined by industrial expansion, driving demand for durable polyester-based rollers and custom elastomeric parts valued for superior load-bearing capacity and operational longevity in manufacturing, mining, and infrastructure sectors. Chicago, July 29, 2025 (GLOBE NEWSWIRE) -- The Southeast Asia casting polyurethane market was valued at US$ 158.31 million in 2024 and is expected to reach US$ 308.18 million by 2033, growing at a CAGR of 7.82% during the forecast period 2025–2033. The Southeast Asia casting polyurethane market is entering a period of unprecedented expansion, poised for significant growth throughout 2024 and 2025. This surge is not a fleeting trend but a fundamental shift, underpinned by vigorous industrialization, substantial foreign investment, and a widespread regional pivot towards high-performance, durable materials. As manufacturing capabilities across the block intensify and diversify, casting polyurethane is emerging as a critical enabling material. Download a Free Sample to Preview the Report: The heavy reliance on casting as a production method is a cornerstone of the casting polyurethane market in Southeast Asia, driven by its unparalleled cost-effectiveness and design freedom for industrial applications. This method provides a clear advantage over traditional manufacturing, particularly for custom and low-to-medium volume production. A Malaysian foundry, in its 2024 annual review, cited a 40% reduction in lead time for custom industrial parts since incorporating polyurethane casting. The process facilitates significant part consolidation and optimization; a Vietnamese agricultural machinery manufacturer, in a 2025 case study, revealed that redesigning a metal assembly into a single cast polyurethane component cut its weight by 60% and its cost by 25%. This efficiency is why specialized firms, like a Singaporean automation company, now use cast polyurethane for over 70% of their custom jigs and fixtures as of early 2025. This report provides an in-depth analysis of the key drivers, sectoral opportunities, and country-specific dynamics shaping this vibrant market, offering stakeholders meticulously researched insights to guide strategic decisions and capitalize on the burgeoning demand landscape. Key Findings in Southeast Asia Casting Polyurethane Market Market Forecast (2033) US$ 308.18 million CAGR 7.82% By Product Type Rolls (34.06%) By Prepolymer Type Polyester Based Prepolymer (43.65%) By Manufacturing Process Casting (Liquid Polyurethane) (50.38%) By Design Elastomeric (39.09%) By Application Industrial Castings (30.34%) By Distribution Channel Distributors/Wholesalers (58.46%) By Industry Automotive (26.73%) Top Drivers Rapid industrialization and manufacturing expansion are driving regional market growth. Increasing investment in infrastructure development fuels polyurethane component demand. Superior performance characteristics over traditional materials like rubber and metal. Top Trends Growing demand for high-performance polyester-based polyurethane for durable applications. Shift towards sustainable and bio-based polyurethane materials is gaining traction. Rising adoption of automation for customized industrial component production. Top Challenges High volatility in raw material prices impacts overall production costs. Intense competition from low-cost materials and fragmented local market players. Limited skilled technicians for complex and advanced polyurethane processing methods. Unprecedented Industrial Expansion Fuels Demand in the Southeast Asia Casting Polyurethane Market At the heart of this growth story is the region's dynamic economic evolution. A confluence of favorable government policies, a rapidly growing middle class, and the relocation of global supply chains is transforming Southeast Asia into a global manufacturing powerhouse. This industrial renaissance is a primary catalyst for the Southeast Asia casting polyurethane market, as industries from automotive to electronics demand materials that offer superior durability, versatility, and performance. The transition away from traditional materials towards advanced polymers like casting polyurethane is accelerating, driven by the need for efficiency, longevity, and higher quality standards in finished products. Automotive Sector Surge Creates Significant Opportunities for Casting Polyurethane Applications The regional automotive industry stands out as a principal consumer in the casting polyurethane market of the Southeast Asia, with its aggressive expansion plans directly fueling demand for cast polyurethane components like bushings, seals, and interior parts. In Thailand, the automotive hub of the region, manufacturers are projected to increase their production targets for electric vehicles by a substantial 15% in 2025, a move that requires advanced polyurethane materials for lightweighting and battery components. Vietnam's commercial vehicle production is simultaneously expected to see a 10% rise in 2024. This growth extends to the aftermarket, where Malaysia's sector is forecast to expand by 8% in 2024, increasing the need for durable cast polyurethane replacement parts. Underscoring this trend, a leading Japanese automaker has committed a $200 million investment to expand its Indonesian production facility, with a scheduled completion in 2025. Monumental Infrastructure and Construction Projects Propel Polyurethane Consumption Across the Region A massive wave of infrastructure development is sweeping across Southeast Asia, creating immense demand for construction-related polyurethane applications such as flooring, insulation, coatings, and sealants. The Philippine government has allocated an additional $5 billion for vital infrastructure projects in 2024, directly boosting the Southeast Asia casting polyurethane market. In Vietnam, the urban landscape is changing rapidly, with the construction of high-rise residential and commercial buildings expected to increase by 12% in 2025. Sustainability is also a key factor; Thailand's green building initiatives are projected to drive a 20% increase in the use of energy-efficient polyurethane insulation in 2024. Furthermore, Malaysia is strategically planning the development of three new industrial parks in 2025, which will create significant, concentrated demand for industrial-grade polyurethane flooring and sealants. Advanced Electronics Manufacturing Hubs Drive Demand for Specialized Polyurethane Formulations Southeast Asia casting polyurethane market's role in the global electronics supply chain is becoming increasingly sophisticated, fueling the need for specialized casting polyurethane for potting, encapsulation, and thermal management. Singapore continues to lead in high-value manufacturing, evidenced by a major semiconductor firm's $1 billion investment in a new fabrication plant set to be operational by 2025. Vietnam's consumer electronics production is on a sharp upward trajectory, with an anticipated growth of 15% in 2024, boosting the use of polyurethane to protect sensitive components. Concurrently, the digital economy's expansion is driving a 25% projected increase in the demand for data centers in Indonesia in 2025, a sector that requires specialized polyurethane materials for critical thermal management systems to ensure operational stability. Heavy Industries and Mining Operations Demand High-Performance Casting Polyurethane Solutions In the region's demanding heavy industrial and mining sectors, the superior abrasion and impact resistance of casting polyurethane makes it the material of choice for critical components. Indonesia's formidable mining sector, for instance, is expected to increase its output by 7% in 2024, directly driving higher demand for hard-wearing polyurethane screens, scrapers, and equipment liners that can withstand harsh operational conditions. This need for durability is also seen in maritime infrastructure. The expansion of a major port in Malaysia, a massive project valued at $500 million and due for completion in 2025, will significantly increase the requirement for robust polyurethane fenders, buoys, and wear pads, showcasing the material's critical role in large-scale industrial applications and its importance to the Southeast Asia casting polyurethane market. A Granular Country-Level Analysis of the Southeast Asia Casting Polyurethane Market A closer look at individual nations reveals distinct and compelling growth narratives. Thailand, solidifying its position as an automotive hub, aims to produce over 500,000 electric vehicles annually by 2025, while its burgeoning medical device market is projected to grow by 9% in 2024, increasing the use of biocompatible cast polyurethanes. Vietnam is a manufacturing titan, with its manufacturing PMI expected to remain strong above 52.0 throughout 2024, and its footwear export value is forecast to climb by 10% in 2025, driven by demand for polyurethane soles. Indonesia's growth is powered by its natural resources and manufacturing sectors. The country is set to increase its nickel processing capacity by 30% in 2024 and its furniture export market is expected to grow by 8% in 2025, increasing the use of polyurethane coatings and foams. In Malaysia, the oil and gas sector is planning 15 new offshore projects by the end of 2025, creating strong demand for pipeline coatings and seals. Malaysia's renewable energy sector is also expanding, aiming to add 1,200 MW of solar capacity in 2024, utilizing polyurethane in panel manufacturing. The Philippines showcases growth fueled by domestic activity; overseas worker remittances, a key driver of construction, are projected to increase by 4% in 2024, while the nation's shipbuilding and repair industry is expected to see 6% growth in 2025. This diverse country-level activity solidifies the bright prospects for the Southeast Asia casting polyurethane market. Analyzing the Crucial Raw Material and Supply Chain Dynamics for Regional Success The continued growth of the Southeast Asia casting polyurethane market is intrinsically linked to the stability and evolution of its supply chain. The availability of key raw materials, namely MDI (methylene diphenyl diisocyanate) and polyols, is a critical factor for manufacturers. In a significant development for regional supply, a new MDI production facility is expected to come online in late 2024, adding 50,000 metric tons of annual capacity and potentially easing supply constraints. From a cost perspective, industry analysts anticipate a moderate increase of 3-5% for polyol prices in the first half of 2025 due to global supply chain realignments. To support this flow of materials, regional investment in logistics and warehousing infrastructure is projected to increase by a remarkable 18% in 2024, enhancing efficiency and ensuring timely delivery across the thriving Southeast Asia market. Need a Customized Version? Request It Now: Future Outlook: Sustained Momentum for the Southeast Asia Casting Polyurethane Market The outlook for the Southeast Asia market through 2025 and beyond is exceptionally promising. The convergence of macro-economic strength targeted industrial policy, major infrastructure investment, and technological advancement creates a powerful and sustained tailwind. The 70 distinct findings presented in this analysis collectively paint a picture of a market rich with opportunity, driven by diverse and robust end-use sectors. From the electric vehicles rolling off production lines in Thailand to the new semiconductor fabs in Singapore and the expanding mines in Indonesia, casting polyurethane is the common denominator of progress and performance. Stakeholders who align their strategies with these powerful growth vectors are well-positioned to achieve remarkable success in the dynamic and rapidly expanding Southeast Asia casting polyurethane market. Southeast Asia Casting Polyurethane Market Major Players BASF SE Evonik Industries Sika AG Dow Inc. Asia Polyurethane Line Seiki Co., Ltd. Prostech Seen Joo Pte Ltd Other Prominent Players Key Segmentation: By Product Type Rolls Formwork Pads Sheets Others By Prepolymer Type Polyester Base Prepolymer Polyether Base Prepolymer Polycaprolactone Base Prepolymer Others By Resin Grade Standard Grade High-Performance Grade Specialty Grade Others By Manufacturing Process Reaction Injection Molding (RIM) Casting (Liquid Polyurethane) Extrusion Compression Molding Others By Design Rigid Flexible Foamed Elastomeric Others By Application Industrial Castings Wheels & Tires Belt & Hoses Medical Devices Footwear Components Concrete Blocks Others By Distribution Channel Direct Sales Online Sales Distributors/Wholesalers By Industry Automotive Mechanical Electronics & Instruments Aerospace & Defense Footwear & Sports Healthcare Others By Country Malaysia Indonesia Myanmar Philippines Thailand Singapore Vietnam Rest of Southeast Asia Need Strategic Clarity? Talk to Our Analyst Today: About Astute Analytica Astute Analytica is a global market research and advisory firm providing data-driven insights across industries such as technology, healthcare, chemicals, semiconductors, FMCG, and more. We publish multiple reports daily, equipping businesses with the intelligence they need to navigate market trends, emerging opportunities, competitive landscapes, and technological advancements. With a team of experienced business analysts, economists, and industry experts, we deliver accurate, in-depth, and actionable research tailored to meet the strategic needs of our clients. At Astute Analytica, our clients come first, and we are committed to delivering cost-effective, high-value research solutions that drive success in an evolving marketplace. Contact Us:Astute AnalyticaPhone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World)For Sales Enquiries: sales@ Follow us on: LinkedIn | Twitter | YouTube CONTACT: Contact Us: Astute Analytica Phone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World) For Sales Enquiries: sales@ Website: in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data


Hamilton Spectator
28 minutes ago
- Hamilton Spectator
Air Canada reports second-quarter earnings down in ‘challenging environment'
MONTREAL - Air Canada says second-quarter earnings were down from last year in what it characterized as a 'challenging environment.' Challenges include an 11 per cent drop in revenue in the airline's U.S. transborder routes that it attributed to geopolitical tensions and a lower Canadian dollar. The airline however saw increases in revenue from other areas, including its Atlantic and Latin American routes, as it redirected capacity, said chief executive Michael Rousseau in a statement. 'We have strategically redirected capacity to high-demand markets and captured demand for premium services, leveraging the breadth and strength of our global network.' Overall, the airline reported a net income of $186 million in the second quarter, down from $410 million in the same quarter last year. Air Canada says that on an adjusted basis, it had a net income of $207 million in the quarter compared with $369 million in the same quarter last year. Adjusted earnings worked out to 60 cents per diluted share in the quarter, compared to 98 cents per share last year. Analysts on average had expected an adjusted profit of 72 cents per diluted share, according to LSEG Data & Analytics. Passenger revenues in the quarter amounted to $5.03 billion, up one per cent from last year on a 2.5 per cent capacity growth. Revenue from its U.S. transborder segment was $961 million, down from $1.08 billion last year, while its Atlantic routes saw $1.64 billion in revenue, up from $1.56 billion last year. For the first six months of the year, revenue from U.S. flights were down 7.9 per cent and its Pacific routes were down 2.8 per cent, contributing to an overall drop of 0.8 per cent in passenger revenue compared with last year. Despite the challenges, the airline reaffirmed its financial guidance for the year that it issued in May. Results were slightly below expectations on higher-than-expected costs but overall fairly neutral, said RBC analyst James McGarragle in a note. 'We are taking a neutral view on the results, as the broader narrative of demand recovery and operational realignment remains intact despite the modest cost-related headwinds in the quarter.' This report by The Canadian Press was first published July 29, 2025. Companies in this story: (TSX:AC)