Holding Perseus Mining over the past year would have returned 24.1% including dividends. Shares cost A$4.68 at the start of the period, when investors weighed a bullish Fair Value of A$5.8, which assumed Nyanzaga and CMA Underground would reach early milestones, against a cautious Fair Value of A$4.26 focused on high gold prices and rising West African costs. The H2 2026 results showed revenue of US$875.447m and net income excluding extra items of US$264.703m, with net margin rising from 28.9% to 30.2%. Perseus Mining now trades at A$5.78, above the cautious scenario's Fair Value, and the article highlights risks including reliance on gold prices and exposure to West Africa and Tanzania.
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