Australia's Africa-focused Gold Miners Seen with Rising Cash Piles to Spend

Dow Jones

Jun 29

0107 GMT - How Africa-focused ASX-listed gold miners spend their cash will be a key focus over the years ahead, says Macquarie. The bank expects a material strengthening in the balance sheets of West African Resources and Perseus Mining, despite increased spending on growth. West African Resources intends to increase shareholder returns and Perseus has increased its share buyback, says Macquarie. "Beyond that, we see an opportunity for further project development or strategic M&A targeting asset-life extension or geographical diversification," it says. Among Africa-focused ASX-listed gold miners, Macquarie's key pick "for stability" is Perseus, and "for growth" is Resolute Mining. The valuation of Turaco Gold could expand in line with peers as it advances the Afema gold project, Macquarie says. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

(END) Dow Jones Newswires

June 28, 2026 21:07 ET (01:07 GMT)

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The bank expects a material strengthening in the balance sheets of <a href=\"https://laohu8.com/S/WFRSF\">West African</a> Resources and <a href=\"https://laohu8.com/S/PRU.AU\">Perseus Mining</a>, despite increased spending on growth. <a href=\"https://laohu8.com/S/WAF.AU\">West African</a> Resources intends to increase shareholder returns and Perseus has increased its share buyback, says Macquarie. \"Beyond that, we see an opportunity for further project development or strategic M&amp;A targeting asset-life extension or geographical diversification,\" it says. Among Africa-focused ASX-listed gold miners, Macquarie's key pick \"for stability\" is Perseus, and \"for growth\" is Resolute Mining. The valuation of <a href=\"https://laohu8.com/S/TCGDF\">Turaco Gold</a> could expand in line with peers as it advances the Afema gold project, Macquarie says. (rhiannon.hoyle@wsj.com; @RhiannonHoyle) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  June 28, 2026 21:07 ET (01:07 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Australia's Africa-focused Gold Miners Seen with Rising Cash Piles to Spend</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAustralia's Africa-focused Gold Miners Seen with Rising Cash Piles to Spend\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-06-29 09:07</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0107 GMT - How Africa-focused ASX-listed gold miners spend their cash will be a key focus over the years ahead, says <a href=\"https://laohu8.com/S/MQG.AU\">Macquarie</a>. The bank expects a material strengthening in the balance sheets of <a href=\"https://laohu8.com/S/WFRSF\">West African</a> Resources and <a href=\"https://laohu8.com/S/PRU.AU\">Perseus Mining</a>, despite increased spending on growth. <a href=\"https://laohu8.com/S/WAF.AU\">West African</a> Resources intends to increase shareholder returns and Perseus has increased its share buyback, says Macquarie. \"Beyond that, we see an opportunity for further project development or strategic M&amp;A targeting asset-life extension or geographical diversification,\" it says. Among Africa-focused ASX-listed gold miners, Macquarie's key pick \"for stability\" is Perseus, and \"for growth\" is Resolute Mining. The valuation of <a href=\"https://laohu8.com/S/TCGDF\">Turaco Gold</a> could expand in line with peers as it advances the Afema gold project, Macquarie says. (rhiannon.hoyle@wsj.com; @RhiannonHoyle) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  June 28, 2026 21:07 ET (01:07 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PRU.AU","symbol_name":"PERSEUS MINING LTD","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2647341096","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2647341096","pubTimestamp":1782695220,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0107 GMT - How Africa-focused ASX-listed gold miners spend their cash will be a key focus over the years ahead, says Macquarie. The bank expects a material strengthening in the balance sheets of West African Resources and Perseus Mining, despite increased spending on growth. West African Resources intends to increase shareholder returns and Perseus has increased its share buyback, says Macquarie. \"Beyond that, we see an opportunity for further project development or strategic M&A targeting asset-life extension or geographical diversification,\" it says. Among Africa-focused ASX-listed gold miners, Macquarie's key pick \"for stability\" is Perseus, and \"for growth\" is Resolute Mining. The valuation of Turaco Gold could expand in line with peers as it advances the Afema gold project, Macquarie says.  Dow Jones NewswiresJune 28, 2026 21:07 ET Copyright  2026 Dow Jones & Company, Inc.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"PRU.AU":"PERSEUS MINING LTD","TCG.AU":"TURACO GOLD LIMITED","WAF.AU":"WEST AFRICAN RESOURCES LTD","RSG.AU":"RESOLUTE MINING LIMITED","BK7506":"金矿股","BK7104":"黄金"},"translate_title":"澳大利亚专注于非洲的金矿商可花的现金越来越多","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TCG.AU":0.9,"PRU.AU":0.9,"WAF.AU":0.9,"RSG.AU":0.9},"content_text":"0107 GMT - How Africa-focused ASX-listed gold miners spend their cash will be a key focus over the years ahead, says Macquarie. The bank expects a material strengthening in the balance sheets of West African Resources and Perseus Mining, despite increased spending on growth. West African Resources intends to increase shareholder returns and Perseus has increased its share buyback, says Macquarie. \"Beyond that, we see an opportunity for further project development or strategic M&A targeting asset-life extension or geographical diversification,\" it says. Among Africa-focused ASX-listed gold miners, Macquarie's key pick \"for stability\" is Perseus, and \"for growth\" is Resolute Mining. The valuation of Turaco Gold could expand in line with peers as it advances the Afema gold project, Macquarie says. (rhiannon.hoyle@wsj.com; @RhiannonHoyle) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  June 28, 2026 21:07 ET (01:07 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"}}}