ASX-listed Perseus Mining has reported strong production, cash flow and growth for the second quarter of its 2025 financial year, resulting in a cash and bullion balance of $704-million as at December 31.

For comparison, the company released key operating indicators and highlights for the December 2024 quarter, the December 2024 half-year and the 2024 calendar year.

Gold recovered in the December 2024 quarter amounted to 132 419 oz, reflecting a 9% increase quarter-on-quarter.

Gold poured during the quarter reached 131 832 oz, while gold sales totalled 136 623 oz, representing a 20% increase owing to the delayed shipment of gold from the previous quarter.

The production cost for the period was $933/oz, and the weighted average all-in-site cost stood at $1 127/oz, marking a 6% reduction from the prior quarter. The average gold sales price was $2 430/oz, reflecting a 7% quarter-on-quarter increase.

For the December 2024 half-year, gold recovered reached 253 709 oz, with gold poured totalling 250 084 oz and gold sales amounting to 245 518 oz.

The production cost for the half-year was $934/oz, and the weighted average all-in-site cost was $1 147/oz. The average gold sales price for the half-year was recorded at $2 109/oz. The total notional cash flow for the half-year was $300-million.

During the 2024 calendar year, Perseus recovered 502 109 oz of gold, poured 503 846 oz and sold 503 096 oz.

The production cost for the year was $944/oz, and the weighted average all-in-site cost stood at $1 147/oz. The average gold sales price was $2 109/oz, generating a total notional cash flow of $536-million.

The company's balance sheet at the end of the December quarter included a cash and bullion balance of $704-million. This included listed securities valued at $67-million and zero debt, with an undrawn debt capacity of $300-million.

Perseus expects to produce between 215 000 oz and 220 000 oz of gold for the six months to June 30, taking output for the full 2025 financial year to between 469 709 oz and 504 709 oz.

All-in-site costs for the second half of the financial year are estimated at between $1 360/oz and $1 435/oz and full-year site costs at between $1 150/oz and $1 180/oz.

As announced earlier this week, Perseus reiterated that a final investment decision (FID) has been made to develop the CMA underground project at its Yaouré gold mine, in Côte d'Ivoire.

Additionally, the FID for the development of the Nyanzaga gold mine, in Tanzania, is pending, subject to the negotiation and finalisation of a framework agreement with the government of Tanzania that will define the regulatory and operational conditions for the project.