Slide 1: Investor Presentation cover letter to ASX
8 November 2007 For personal use only The Manager Company Announcements Office ASX Ltd 4th Floor, 20 Bridge Street SYDNEY, NSW 2000 Dear Sir INVESTOR PRESENTATION Perseus Mining Limited advises that its managing director, Mr Mark Calderwood, is conducting investor presentations in New York and Toron
Slide 2: North American Presentation November 2007
www.perseusmining.com ASX: PRU For personal use only North American Presentation November 2007
Slide 3: Introduction
Introduction For personal use only As at Nov 1 2007 ¾ Perseus Mining is busy exploring in regions that host numerous “World Class” gold deposits Ordinary Shares (PRU) 131.6M Listed Options (PRUO) 20.3M ¾ Perseus has taken its total resource base Unlisted Options 17.1M from 0.45Moz in May 2006 to 4.0
Slide 4: Why Perseus?
Why Perseus? For personal use only • Strong information flow, 9 drill rigs currently operating • Regular resource upgrades expected • Two projects in production feasibility • Experienced management with technical expertise and local experience • Relatively low market capitalisation
Slide 5: Senior Management
Senior Management For personal use only Reg Gillard (Chairman) 22 years as Director/Chairman included Mount Edon, Moto and currently Tiger, Pioneer, Aspen, etc Mark Calderwood (Managing Director) 22 years in exploration management including 12 years in Africa and Kyrgyz Republic, several large disco
Slide 6: Projects
Projects For personal use only 3 Key Regions of Focus: • Ashanti Belt (Ghana) - One of the world’s most prolific in terms of gold discoveries and production over the last two decades. • Morila - Tongon (Mali - Cote d'Ivoire) – Renowned for large gold deposit including Morila which in the last 6 year
Slide 7: Ghana
West Africa Ghana For personal use only • 6 licences 2 mining leases 650sq km • Central Ashanti belt near 60Moz Obuasi mine • 2007 resources 3.4Moz – 832,000oz Indicated – 2,592,000oz Inferred • 2008 target resources 4.8Moz – 2,300,000oz Meas. & Ind. – 2,500,000oz Inferred
Slide 8: Ghana - Ayanfuri
West Africa - Ghana Ayanfuri ( 90%) For personal use only • 306,000oz gold produced from shallow oxide pits 1994-2001 and heap leach • Cluster of large free milling granite hosted deposits: current oz ’08 target oz Esuajah Nth 533,700 - 700,000 Esuajah Sth 527,500 - 700,000 Abna-Fobinso 924,200 - 1,
Slide 9: Ghana - Ayanfuri
West Africa - Ghana Ayanfuri For personal use only Years 1 to 4 • 3mtpa - >150,000ozpa • Existing mining leases • Good Infrastructure • 94% recovery incl. 50% gravity • Low waste:ore ratio (+/- 2:1) • Target cash cost US$300/oz • Potential cash flow: US$52M/pa at US$650 gold US$66M/pa at US$750 gold
Slide 10: Ayanfuri Detailed Feasibility Study timeline
West Africa - Ghana Ayanfuri For personal use only Detailed Feasibility Study (DFS) time line • Commenced Nov 07 • Jun 08 complete drilling for first 40Mt - 2Moz and metallurgy - plant design • Sept 08 complete pit designs and draft EIS consider long lead items • Nov 08 complete DFS
Slide 11: Ghana - Ayanfuri
West Africa - Ghana Ayanfuri For personal use only
Slide 12: Abnabna - Fobinso Trend
West Africa - Ghana Ayanfuri For personal use only Abnabna - Fobinso Trend 8km long - under explored 2km strike drilled to avg. ~100m vertical 0.9Moz to date
Slide 13: Ayanfuri and adjoining licences
West Africa - Ghana Ayanfuri For personal use only • Ayanfuri and adjoining licences - under explored • More than 20 targets waiting drilling • 2Moz discovered in last 12months • Recently doubled drilling capacity, 4 rigs now on site
Slide 14: Ghana - Ayanfuri
West Africa - Ghana Ayanfuri For personal use only
Slide 15: Ghana - Grumesa
West Africa - Ghana Grumesa (90%) For personal use only • 195,000oz Indicated 619,000oz Inferred resources • Low grade mineralisation, but suitable for low cost heap leach extraction • Deposit 4km long by 500m wide and only drilled to average depth of 40m
Slide 16: Grumesa Pre-Feasibility
West Africa - Ghana Grumesa For personal use only • Pre-Feasibility - 2Mtpa heap leach • 35,000oz gold p.a. operation • Very low waste:ore ratio (~1:1) • US$13M start capital (excl mining) • Perseus owns process plant • Favorable metallurgy • Target cash cost ~US$400 - 500/oz • Potential operating c
Slide 17: Ivory Coast - Tengrela
West Africa – Ivory Coast Tengrela (80%) For personal use only • Tengrela located on border of Ivory Coast and Mali • Project covers 65km strike of the Syama gold belt • 9 strong gold in soil anomalies identified • Area known for a high conversion rate of strong soil anomalies to large gold deposits
Slide 18: Tengrela - Sissingue drilling
West Africa – Ivory Coast Tengrela For personal use only Sissingue: 1st of 9 anomalies to be drilled: • RAB drilling in 2006 discovered strong mineralisation over 4km tested to date of 7km anomaly • Early RC drilling highlights the potential of 800m by 250m Eastern Zone, including: 8m at 113.8g/t; 4
Slide 19: Ivory Coast - Tengrela
West Africa – Ivory Coast Tengrela For personal use only
Slide 20: Ivory Coast - Tengrela
West Africa – Ivory Coast Tengrela For personal use only
Slide 21: Tengrela - Sissingue East
West Africa – Ivory Coast Tengrela For personal use only • Sissingue East similar size footprint to 6.4Moz Syama mine along strike to the north • Drilling to 200m commencing Nov 2007 • Targeting Resource from Sissingue east zone by April 2008, potential for 0.5Moz to 1Moz ounces to 150m depth • Over
Slide 22: Kyrgyz Republic
Central Asia Kyrgyz Republic For personal use only • Strong 100% owned Tenement holding in the Kyrgyz Republic • Exciting potential – deserves dedicated management team and funding • Perseus considering spin out to a new entity for listing on ASX. • Detailed plan by end of 2007
Slide 23: Kyrgyz Republic prospects
Central Asia Kyrgyz Republic For personal use only Main Perseus prospects in the Kyrgyz Republic – • Tolubay 0.6Moz resource at Obdilla - numerous drill targets – “Carlin Style” • Isfairamsai - high grade gold in soil anomaly trenching and drilling commenced “Carlin Style” • Savoyardy - Kentor spend
Slide 24: Objectives December Quarter 2007
Objectives Dec. Quarter 2007 For personal use only Ghana – Progress Ayanfuri detailed feasibility study – Drill test a number of exploration targets – Undertake significant infill drilling at Ayanfuri and Grumesa Ivory Coast – Complete first 2000m of deeper drilling at Sissingue – Significant inflow
Slide 25: Objectives March Quarter 2008
Objectives March Quarter 2008 For personal use only – Increase total resource base to 5Moz (excluding Kyrgyz) – Substantial progress on Ayanfuri DFS – Commence heap leach plant refurbishment process
Slide 26: Summary
Summary For personal use only Undervalued ounces Good project locations Aggressive exploration Resource growth Reserves in 2008
Slide 27: For personal use only
For personal use only • All persons should seek appropriate professional investment advice in reviewing or considering this presentation and all other information with respect to Perseus Mining Limited’s business, financial performance and operations. Neither the provision of this presentation nor t