West Africa-focused Perseus Mining expands buyback to $98mn as cash flow strengthens

About this update from Perseus Mining Limited

Perseus Mining (ASX:PRU; TSX:PRU), an Australia -listed gold producer with operations in West Africa , has expanded its active on-market share buyback programme to AUD150mn ( $98mn ) after completing the initial AUD100mn repurchase programme announced in August 2025 . The company said on June 12 that it had purchased 19.1mn shares at an average price of AUD5.24 per share under the programme, representing approximately 1.4% of the shares on issue when the buyback was launched in November 2025 . Following completion of the initial allocation, the board approved an additional AUD50mn for the programme as part of the company's capital allocation framework aimed at returning excess capital to shareholders. Since launching its first buyback programme in August 2024 , Perseus has repurchased a total of 45.1mn shares for AUD183.5mn at an average price of AUD4.07 per share. The company said the cumulative repurchases represent approximately 3.3% of the shares on issue at the time the inaugural programme was announced. The expanded buyback reflects management's confidence in the group's financial position and cash-generation capacity. Perseus said strong operating performance and market-leading free cash flow continue to support shareholder returns while allowing the company to fund its organic growth pipeline. 'The decision to expand our on-market buyback to AUD150mn emphasises our clear focus on total shareholder return and capital allocation discipline,' Managing Director and Chief Executive Officer Craig Jones said. 'Our operations continue to produce solid and sustained cash flows. Given the current market conditions continue to undervalue our high-margin production profile and organic upside, buying back our own shares represents a highly accretive use of capital.' Jones said the expansion would allow the company to return value to shareholders while maintaining balance-sheet strength and funding future growth initiatives. The company said the enlarged programme would be conducted in accordance with Australian Securities Exchange listing rules and applicable corporate regulations. The timing, volume and pricing of purchases will depend on market conditions and prevailing share-price levels. Perseus operates the Edikan gold mine in Ghana and the Sissingué and Yaouré gold mines in Côte d'Ivoire. The company is also developing the Nyanzaga gold project in Tanzania , which is expected to become its fourth producing operation. © 2026 bne IntelliNews, source Magazine

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