Full year production to June 30 was 328,632 ounces, fuelled by 191,246oz in the second half of the financial year.
It was supercharged by 16% higher June quarter production of 102,788oz with all-in site costs of US$1047/oz.
Despite the higher costs, Perseus reported cashflows for the quarter that were 51% higher at $62 million.
One of the big drivers of the growth was the new Yaoure operation in Cote d'Ivoire, which was declared commercial on March 31, joining the nearby Sissingue operation, and Edikan in Ghana.
Yaoure produced 37,343oz at $1036/oz for the quarter as higher-grade fresh ore from the CMA pit displaced lower grade material drawn from decommissioned heap leach pads and low-grade oxide ore stockpiles during the ramp-up.
Higher production was also attributed to higher-than-modelled throughput rates, grades, and recoveries.
It overtook Sissingue, which produced 23,224oz at $754/oz.
Edikan produced 42,221oz at $1217/oz.
The company is looking to increase gold output in the December half to between 225,000-255,000oz at $925-1025/oz.
Perseus said it was on track to reach its goal of 500,000ozpa by the end of 2021-22 with operating cash margins of at least $400/oz, it said.
The miner ended the quarter with net cash up $50 million to $56 million, with debts reduced $30 million to $100 million.
In terms of exploration, Perseus said the results were generally encouraging for near mine exploration, although deep diamond drilling beneath Sissingue pit to 850m, looking for possible extensions or repetitions of the main granite body delivered only weak mineralisation.
A feasibility study for its Bargoe project is expected next month, which could deliver a mine life extension at Sissingue.
Canaccord Genuity analyst Reg Spencer said Perseus' ability to beat its forecasts ensured it remained one of his top picks in the gold space, and he maintained his buy recommendation with a A$1.85 per shar price target.
Perseus shares have traded between $1.06-1.66 over the past year and were $1.53 today, valuing it at $1.9 billion.
