Perseus Mining (ASX:PRU) has expanded its on-market share buyback program by $50 million after completing the initial $100 million target.
The company reached the original $100 million buyback milestone on June 12, having purchased 19,077,751 shares at an average price of $5.24 per share since the program launched in August 2025.
Perseus’ board approved the increase to $150 million total under the company’s capital allocation framework to return capital to shareholders.
Since commencing share buyback programs in August 2024, Perseus has purchased 45,076,176 shares totalling $183.5 million at an average price of $4.07 per share, representing 3.3% of shares on issue at the maiden buyback notification.
“The decision to expand our on-market buyback to $150 million emphasises our clear focus on total shareholder return and capital allocation discipline,” CEO Craig Jones says.
“Given the current market conditions continue to undervalue our high-margin production profile and organic upside, buying back our own shares represents a highly accretive use of capital.”
Perseus Mining operates gold mines in Ghana and Côte d’Ivoire, with the Yaouré Gold Mine, Sissingué Gold Mine, and Edikan Gold Mine in its portfolio.
Write to JC Villarba at Mining.com.au
Images: Perseus Mining
