Slide 1: September Quarter Results
For personal use only September Quarter Results Jeff Quartermaine Managing Director & CEO October 2015 ASX/TSX: PRU www.perseusmining.com
Slide 2: Cautionary Statements
Cautionary Statements For personal use only Forward-Looking Statements This presentation contains forward-looking information which is based on the assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expecte
Slide 3: Summary – Edikan Gold Mine Operations
Summary – Edikan Gold Mine Operations For personal use only Gold production of 42,267oz in-line with Half Year guidance 90,000 to 105,000ozs Operating costs continued to decrease. Quarter-on-quarter reductions of 45% in unit mining costs and 15% of processing costs Total all-in site cash costs of US
Slide 4: Summary – Sissingué Gold Project, Cote D'Ivoire
Summary – Sissingué Gold Project, Cote D'Ivoire For personal use only Mining Convention for Sissingué executed in late July 2015 Engineers, Lycopodium, materially advanced Front End Engineering and Design Organisation structures developed for the construction and operating phases and recruitme
Slide 5: Summary – Exploration and Corporate
Summary – Exploration and Corporate For personal use only Exploration Reviewed and analysed data to identify near-mine targets for drill testing in December 2015 quarter In Cote d’Ivoire, the highly prospective 392 square km Kounahiri permit was granted to JV partner, Générale des Mines et Carri
Slide 6: The Edikan Gold Mine ("EGM")
The Edikan Gold Mine ("EGM") For personal use only
Slide 7: Operations – Edikan Gold Mine
Operations – Edikan Gold Mine For personal use only Parameter June September Financial Year Calendar Year Unit Half Year 2015 2016 2016 2015 Quarter To Date To Date Total material mined bcm 2,952,142 3,776,440 3,776,440 6,728,582 tonnes 6,614,246 7,555,548 7,555,548 14,169,794 Strip ratio t:t 1.3 9.
Slide 8: Operations – Edikan Gold Mine
Operations – Edikan Gold Mine For personal use only June September Financial Year Calendar Year Parameter Unit Half Year 2015 2016 2016 2015 Quarter To Date To Date % 89 86 86 88 Gold recovery Gold produced ounces (oz) 112,119 44,267 44,267 156,386 Gold sales oz 112,243 45,344 45,344 157,587 Average
Slide 9: Operations – Edikan Gold Mine
Operations – Edikan Gold Mine For personal use only Parameter Unit June September Financial Year Calendar Year Half Year 2015 2016 2016 2015 Quarter To Date To Date PRODUCTION COST: Cash Cost US$/oz 706 948 948 775 Royalties US$/oz 65 133 133 84 Sub-total US$/oz 771 1,081 1,081 859 CAPITAL COSTS: In
Slide 10: Mining – Edikan Gold Mine
Mining – Edikan Gold Mine For personal use only 3,776,440bcm of ore and waste mined – 135% more than June Quarter as stripping of Fobinso Stage 3, Fetish and Chirawewa pits accelerated 272,989t oxide ore at 0.68g/t gold; 427,257t transition and primary ore at 1.49g/t gold Shortfall of tonnes o
Slide 11: Mining in the Eastern Pits – Fetish
Mining in the Eastern Pits – Fetish For personal use only
Slide 12: Mining in the Eastern Pits – Chirawewa
Mining in the Eastern Pits – Chirawewa For personal use only
Slide 13: Processing – Edikan Gold Mine
Processing – Edikan Gold Mine For personal use only June September Financial Year Calendar Year Half Year 2015 2016 2016 Description Unit 2015 Quarter To Date To Date Primary Crusher Tonnes Crushed dmt 2,603,001 1,441,917 1,441,917 4,044,918 Runtime % 56 49 55 51 Throughput rate dmtph 1,130 1,112 1,
Slide 14: Site Operating Costs – Edikan Gold Mine
Site Operating Costs – Edikan Gold Mine For personal use only • Total all-in site cash costs US$1,060/oz – below cost guidance of US$1,150-1,300/oz. • Strong improvement in unit costs as follows: Department Units December 2014 March 2015 June 2015 September 2015 Quarter Quarter Quarter Quarter Minin
Slide 15: Production and Cost Guidance
Production and Cost Guidance For personal use only Production and cost guidance targets remain unchanged as follows: Parameter Units December 2015 Half June 2016 2016 Year Half Year Financial Year Gold Production Ounces 90,000-100,000 100,000-110,000 190,000-210,000 All-In Site Costs US$/oz 1,150-1,
Slide 16: Edikan Gold Mine Phase – Relocation Housing
Edikan Gold Mine Phase 1 – Relocation Housing For personal use only
Slide 17: Edikan Gold Mine Phase – Relocation Housing
Edikan Gold Mine Phase 1 – Relocation Housing For personal use only Phase I – Comprises Fetish and Esuajah North replacement housing Infrastructure Works by contractor PW Ghana involves clearing and earthworks, roads, drainage works, power distribution, water supply and distribution, refuse slab
Slide 18: Phase Relocation Housing – Construction Schedule
Phase 1 Relocation Housing – Construction Schedule Resettlement Implementation vs LOM Access Dates For personal use only
Slide 19: Phase Relocation Housing – Construction Budget
Phase 1 Relocation Housing – Construction Budget For personal use only Description FY2012-2015 FY2016 FY2017 FY2018 TOTAL PHASE I RESETTLEMENT (For Fetish & 11,105 16,715 5,397 - 33,217 Esuajah North Mine take areas) All values in USDM
Slide 20: Sissingue Gold Project – Cote d'Ivoire
Sissingue Gold Project – Cote d’Ivoire For personal use only
Slide 21: Overview of Sissingué Gold Project
Overview of Sissingué Gold Project For personal use only Measure and Indicated Mineral Resource of 16Mt grading 1.7g/t optimised to an Ore Reserve of 5.5Mt @ 2.4g/t containing 429,000 ozs gold Ore processed over 5.25years at processing rates of 1.2Mt/y (oxide ore) and 1.0Mt/y (primary ore) 385
Slide 22: Snapshot of Status of Sissingué Early Works
Snapshot of Status of Sissingué Early Works For personal use only Description Comments HSE Starting from low basis with limited resourcing & time. Basics being focused on. Steady improvements being made Government Supportive and working with Project Community Good support with considerable consultat
Slide 23: Sissingué Gold Project – Early Works
Sissingué Gold Project – Early Works For personal use only Tengrela guesthouse Tengrela guesthouse Fence line clearing Campsite clearing Site main entrance Perimeter fencing
Slide 24: Sissingué Gold Project – Early Works
Sissingué Gold Project – Early Works For personal use only Temporary workshop & office site Tengrela Tengrela Fence line Clearing Guesthouse Guesthouse Kanakono housing Sissingue water project Pit haul road Campsite Site laydown & Perimeter clearing Offices Fencing Process plantsite
Slide 25: Project Status
Project Status For personal use only Significant progress has been made but full scale development decision due in December 2015 quarter, subject to: Strategic importance of financial and risk mitigation benefits of having a second income stream generated in a different geo-political setting to Gh
Slide 26: Exploration – Ghana
Exploration – Ghana For personal use only Exploration activities fall within 10km buffer from Plant site Active in Nanankaw and Ayanfuri ML’s and Nkotomso and Nsuaem PL’s
Slide 27: Exploration – Cote d'Ivoire
Exploration – Cote d’Ivoire For personal use only Highly prospective 392 square km Kounahiri permit granted to JV partner, Générale des Mines et Carrières Sarl (“GEMICA”)
Slide 28: Corporate – Financial Position
Corporate – Financial Position For personal use only Net working capital at 30 September 2015 of $191.2M, an increase of $13.5M during the Quarter Total cash and bullion of $131.8M*(30 June 2015: $127.3M) Available cash balance was $123.4M (30 June 2015: $103.7M) Bullion on hand included 5,2
Slide 29: Corporate – Gold Sales and Price Hedging
Corporate – Gold Sales and Price Hedging For personal use only • Perseus manages gold price risk using simple forward sales contracts • 45,344ozs gold sold during Quarter at weighted average price of US$1,291/oz (June quarter: US$1,307/oz) • At 30 September 2015, 149,100 ozs gold hedged at an averag
Slide 30: Program for December 2015 Quarter – Edikan
Program for December 2015 Quarter – Edikan For personal use only Produce gold at a total all-in site cost that is in line with Half Year guidance Continue to fine-tune plant metallurgical performance and maximise SAG mill throughput Continue training of operating and maintenance staff Contin
Slide 31: Program for December 2015 Quarter – Sissingué
Program for December 2015 Quarter – Sissingué For personal use only Complete early works programme including but not limited to certain site works at Sissingué Continue to engage with all national, regional and local government and community security stakeholders to ensure security of Sissingué
Slide 32: September Quarter Results
For personal use only September Quarter Results Jeff Quartermaine Managing Director & CEO October 2015 ASX/TSX: PRU www.perseusmining.com