Perseus Mining Limited (ASX/TSX: PRU) has announced an updated estimate of its Mineral Resources and Ore Reserves as of June 30, 2025. Perseus Mining is a multinational gold producer and explorer focused on Africa. The company currently operates three gold mines and is developing a fourth in Tanzania.
The Perseus Group’s Measured and Indicated (M&I) Mineral Resources now total 7.8 million ounces of gold. This compares to the 4.9 million ounces reported at the end of June 2024. The Group’s Proved and Probable Ore Reserves have increased to 5.0 million ounces of gold, a significant rise from the 2.9 million ounces stated last year. These estimates exclude the Foreign/Historical Estimate for the Meyas Sand Gold Project (MSGP) in Northern Sudan, which includes Indicated Mineral Resources of 3.3 million ounces of gold and Probable Mineral Reserves of 2.9 million ounces of gold.
The increase in Ore Reserves is attributed to the company’s annual planning cycle, which involved reassessing growth opportunities within its portfolio. This approach prioritises optimising the overall portfolio and balancing investments in growth with cash margin generation. This strategic shift has resulted in a 2.1 million ounce increase in the company’s Ore Reserve estimate compared to figures reported at June 30, 2024.
These updated estimates reflect Perseus Mining’s continued focus on expanding its resource base and optimising its mining operations across its portfolio of assets.
