05:26 PM EST, 01/28/2025 (MT Newswires) -- Perseus Mining ( PMNXF ) , after trade Tuesday, said its fiscal second-quarter gold production rose while average All-in Sustaining Costs (AISC) declined from the previous quarter.

The company said for the quarter ended Dec. 31, gold production rose 9% to 132,419 ounces from 121,290 ounces in the September quarter. AISC was US$1,127 per ounce, which is 6% lower than the previous quarter's US$1,201 per ounce.

As of the end of the quarter, the company's balance sheet included US$704 million in cash and gold bullion, US$67 million in liquid, listed securities, and zero debt. There was US$300 million in undrawn debt capacity available at the end of Q2 FY25.

The company provided market guidance for the second half of the fiscal year 2025 of 215,000 to 220,000 ounces at a price range of US$1,360 to US$1,435 per ounce, and for the full fiscal year 2025 of 469,709 to 504,709 ounces at US$1,250 to US$1,280 per ounce.

Perseus shares closed down $0.01 to $2.50 on the Toronto Stock Exchange.