(Kitco News) - African gold producer Perseus Mining (ASX/TSX: PRU) announced today that the company achieved record performance across all key metrics for the financial year ending 30 June 2022 (FY22).
The company said it has delivered a 66% increase in sales revenue in FY22 to A$1,126 million resulting in an EBITDA from operations in FY22 of A$564.1 million, an 86% increase compared to FY21, and a net profit after tax of A$279.9 million for the year, an increase of 101% on FY21.
Perseus added that its gold production was 494,014 ounces in FY22, in upper half of market guidance range of between 471,164 and 506,164 ounces, and up 50% compared to 328,632 ounces produced in FY21.
The company noted that weighted average all-in sustaining cost of US$952 per ounce for the financial year to 30 June 2022 was in the bottom quartile of the market guidance range of US$932 to US$1,020 per ounce.
Perseus pointed out that a total of A$522.9 million or 42.01 cents per share of operating cashflow was generated during the year, resulting in a cash and bullion balance at year-end of A$475.8 million, or A$403.3 million, net of A$72.5 million of outstanding debt.
At 30 June 2022, the company’s net tangible assets amounted to A$1,187 million, or A$0.87 per share, approximately 28.2% more than at the end of the prior financial year.
Importantly, Perseus said that its Board has declared a final unfranked dividend of 1.64 cents per share (~A$22 million) including a bonus dividend of 0.79 cents per share. Together with the interim dividend of 0.81 cents per share declared in February 2022, this brings the total dividend declared by Perseus in FY2022 to 2.45 cents per share which equates to an annual dividend yield of 1.5%.
Perseus operates three gold mines in West Africa (Edikan in Ghana, Sissingué and Yaouré in Ivory Coast), with its third mine, Yaouré, pouring its first gold in December 2020.
The company has recently acquired Orca Gold, and now owns 70% of the Block 14 development project in Sudan, and a 31.4% stake in the Kone gold project in Ivory Coast.
