Perseus Mining extends $100m buy-back to August 2026

The news: Gold producer Perseus Mining has extended its on-market share buy-back for a further 12 months after failing to acquire additional shares during the first two months of the program, the company said in a notice to ASIC on Tuesday evening.

The numbers: The company said the $100 million share buy-back’s extended period will be on the same basis as before and will therefore end on 28 August 2026.

The context: The company noted that there is no assurance that Perseus will buy back any or all of the up to $100 million worth of shares and that it reserves the right to suspend or terminate the program at any time.

The buy-back was first announced in August 2024, with chairman and CEO Jeff Quartermaine saying: "In determining these capital returns, we have taken into account the very significant capital investment programme that potentially lies ahead for Perseus as we work to improve the quality of our asset portfolio by developing the Nyanzaga Gold Project in Tanzania, the CMA Underground Project in Cote d'Ivoire and potentially the Meyas Sand Gold Project in Sudan".