Perseus Mining Limited
Perseus Mining is a mid-tier West African gold producer operating the Yaoure and Sissingue mines in Cote d'Ivoire plus the Edikan mine in Ghana, selling roughly 490,000 ounces of gold in fiscal 2025 and holding an A$817 million cash and bullion position as of the March 2026 quarter.
Notable vs. Peers
- Financials score of 8.8/10 is stronger than the peer average of 6.5/10.
- Jurisdiction risk score of 6/10 is meaningfully riskier than the peer average of 7.8/10.
Lifecycle Milestones
Construction Milestones
5 of 5 reached- Apr 2019 · Source
- May 2019 · Source
- May 2019 · Source
- Dec 2020 · Source
- Reached — date not disclosed · Source
Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.
Not yet determined: grid power.
Combined view across 2 projects. Figures below are only combined where the underlying basis genuinely matches -- see the notes under each.
Jurisdiction (40%)6/10
Cote d'Ivoire (primary operations) — moderate West African mining-sector risk, though a comparatively stable, mining-friendly jurisdiction relative to regional peers.
Infrastructure (40%)8.6/10
A confirmed mill, confirmed road access, and a confirmed tailings facility at Yaoure Gold Mine, Cote d'Ivoire; grid power not yet researched, counted at a neutral 5/10 until established.
Nearby producing mine (20%)Not yet researched
No producing mine within 50 km in our reference list (nearest listed: Bonikro (Allied Gold Corporation), 77 km). That list doesn't cover every mining district yet, so a longer distance isn't scored as remote.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not scored
No producer holds a disclosed stake on file (holder register researched) See holders
Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.
Weight 25% - Distance to a producing mineSub-score:4.1/10
Nearest producing mine: Bonikro (Allied Gold Corporation), 77 km
10 next to a producing mine, 8 at 20 km, 5 at 50 km, 0 beyond 200 km.
Weight 22.5% · 46% here - Lifecycle stageSub-score:5.5/10
Stage: Production
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 31% here - JurisdictionSub-score:6/10
Côte d'Ivoire: jurisdiction score 6/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 14% here - CommoditySub-score:10/10
Primary commodity: Gold
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 9% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
Chief Financial Officer of Perseus Mining Limited since 2020, part of the executive team overseeing the company's West African gold operations at Edikan (Ghana), Sissingue (Cote d'Ivoire) and Yaoure (Cote d'Ivoire). 18+ years of senior financial, operational, strategic-management and board-director experience across multiple industries and jurisdictions. Immediately before Perseus, CFO of Resolute Mining Limited for approximately 3 years. Earlier career: senior financial and executive roles including CFO of Newmont Goldcorp Corporation and of Gem Diamonds, Head of Project Function - Iron Ore at BHP Billiton, Managing Director of Kimberley Diamonds, and Group Financial Manager of Unitrans. CA (SA); BCom (Hons) Accounting, University of the Witwatersrand.
Chief Operating Officer of Perseus Mining Limited, joining the executive leadership team in the role from 1 June 2026, based in Perseus's Dubai office overseeing operations across Africa. 25+ years of experience in gold and base-metals operations across Australia, West Africa and Southern Africa. Immediately before Perseus, COO at Appian Capital Base Metals; before that, GM of AngloGold Ashanti's Obuasi Mine in Ghana. Earlier career: Head of Mining for Khoemacau (Cupric Canyon Capital), Lead & Head of Underground Mining at Anglo American, and Executive Head Mining Technical at Anglo American Platinum. BEng (Mining) and BSc (Chemistry), University of Queensland.
Chief Development Officer of Perseus Mining Limited since Jan 2025, responsible for the company's growth and project development pipeline. Nearly two decades of mining-engineering and strategic-planning experience. Before Perseus, roles of increasing seniority at Gold Fields Limited including Group Mining Engineer (Open Pit), VP Strategic Planning, and Acting EVP Strategy/Strategic Planning/Corporate Development. BEng (Mining Engineering) and MSc (Mineral Economics), Western Australian School of Mines; MBA, Curtin Graduate School of Business; Chartered Mining Professional, AusIMM.
Independent Non-Executive Chairman of Perseus Mining Limited, appointed following a search for an eminent future leader in May 2024, assuming the role with immediate effect in Aug 2024 (replacing interim executive chairman Jeff Quartermaine). CEO then Executive Chairman of Anglovaal Mining Limited (1996-2004); merged Anglovaal with Patrice Motsepe's ARM to form African Rainbow Minerals, remaining Deputy Chairman and CEO of subsidiary Teal Mining and Exploration Inc. until 2008. In 2011, joined Credit Suisse's investment banking group as a Senior Advisor working on sub-Saharan African transactions, leaving when Credit Suisse was taken over by UBS in 2023.
Managing Director and Chief Executive Officer of Perseus Mining Limited. Joined Perseus as CEO-designate on 18 August 2025 and took over as CEO on 1 October 2025, on the retirement of long-serving Managing Director & CEO Jeff Quartermaine. 25+ years of global mining experience across Australia, Papua New Guinea, Indonesia and Canada. Joined Newcrest Mining in 2008, a member of its executive team from 2012, and ultimately Newcrest's global Chief Operating Officer with responsibility for 5 operating assets (Newcrest merged into Newmont Corporation in Nov 2023, well before his own departure). Not to be confused with the separate Craig Jones who is Managing Director & CEO of Torque Metals and former Chief Operating Officer of Spartan Resources.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Three precious-metals specialist funds hold small positions -- Franklin Gold and Precious Metals at 3.39%, ASA Gold & Precious Metals at 0.90% and Gabelli Gold at 0.67% -- and no producer or strategic investor holds a stake. Pulling the other way, five directors and executives sold shares between September 2025 and January 2026, including the managing director selling 1.5 million shares, with no purchases at all. Perseus is itself a strategic holder of other companies, notably 17.87% of Predictive Discovery, but that says nothing about who has bought into Perseus. The holder data here was last refreshed in 2020-2021.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Perseus Mining operates the Yaoure and Sissingue mines in Cote d'Ivoire and Edikan in Ghana, and is developing the Nyanzaga project in Tanzania. Its 30 Jun 2026 statement gives attributable measured and indicated gold resources of 9.09 Moz (0.86 Moz measured, 8.22 Moz indicated), inclusive of reserves, plus 2.25 Moz inferred.