Production in the first half by the Cote d'Ivoire and Ghana miner totalled 241,164oz.

Perseus' all-in site costs are in region of US$900-1000/oz, with "notional cashflow from operations (in the December quarter) increasing by 21% quarter-on-quarter to $94 million, and 84% year on-year to $275.1 million".

Perseus had cash and bullion of $212 million and debt of $50 million at the end of December after a quarter in which it returned $13 million of capital to shareholders, reduced debt by $50 million and invested $11 million in "organic growth".

"In the words of our chairman, the team has really hit the ball out of the park," managing director Jeff Quartermaine told a conference call.

Perseus remains on the lookout for organic and M&A opportunities, with Quartermaine claiming the company had identified situations that had the potential to "create very material value".

Shares in Perseus were unchanged at A$1.50 in early trade, capitalising the company at $1.85 billion.