Perseus Mining Limited · ASX:PRU
Perseus Mining — Shareholder Meeting (November 2012)
23 slides from Perseus Mining's shareholder meeting presentation, Nov 23, 2012
Slide 1: Annual General Meeting November 2012
For personal use only ASX/TSX: PRU www.perseusmining.com Annual General Meeting November 2012 Mark Calderwood CEO
Slide 2: Competent Person's Statement and Forward-Looking Statements
For personal use only Competent Person’s Statement Information in this presentation that relates to exploration results, mineral resources or ore reserves is based on information compiled by Mr Mark Calderwood, who is a Chartered Professional Member of The Australasian Institute of Mining and Metall
Slide 3: Perseus the Company
Perseus the Company Track Record; For personal use only • Exploration - 16 Years in West Africa discovered 9Moz • Development - Edikan built on time and on budget • Production - Over the last 18 months evolved into a miner and producer Large, low risk (open pit and free milling) High margin projects
Slide 4: Perseus the Company - Philosophy
Perseus the Company - Philosophy For personal use only Targeting low total cost* (<$1,000) and high IRR (+30%) projects to maximise return Continuous optimisation of existing projects Reduce risk - experienced team, focus, steady growth, low gearing Corporate responsibility, building a long term pre
Slide 5: Key Achievements Last Months
Key Achievements Last 12 Months For personal use only Declared commercial production 1/1/12 Maiden profit of A$52M 30/6/12 First +50Koz quarter - June 2012 Paid out project finance - November 2012 Government approvals Sissingué
Slide 6: Key Operating Statistics for Months to Sep 2012
Key Operating Statistics for 12 Months to Sep 30 2012 For personal use only Quarter Dec 11 Mar 12 June 12 Sept 12 Mining (Mbcm) 3.68 4.76 3.66 4.12 Ore Mined (Mt) 1.8 2.2 2.1 2.0 Ore Processed (Mt) 1.09 1.03 1.15 1.28 Gold produced (oz) 35,801 38,796 52,670 52,610 GCC (US$/oz) N/A $975 $716 $817 ACC
Slide 7: Financial Position as at Nov 20, 2012
Financial Position as at Nov 20, 2012 For personal use only Total available cash US$45M Bullion on hand 14,000ozs Total borrowings Nil Available credit line US$100M Hedging commitments* 230koz *Hedged gold deliverable in quarterly instalments till December 2015 at an average price of $1,365/oz, repr
Slide 8: Mineral Resources & Reserves (Gold)
Mineral Resources & Reserves (Gold) For personal use only 7.0Moz (87% in Ghana) in M&I Resources (197Mt at 1.1g/t) Including 4.0Moz (84% in Ghana) in Reserves (104Mt at 1.2g/t) ................................................... Additional 2.2Moz (88% in Ghana) in Inferred Resources (74Mt at 0.9g/t)
Slide 9: Projects
For personal use only Projects 9
Slide 10: Ashanti Belt
Ashanti Belt For personal use only Edikan 650 sq km total Grumesa In the rich Ashanti gold belt Edikan, Grumesa Meas. & Ind. 6.1Moz -182Mt Inf. 2.0Moz - 67Mt Significant exploration upside years of drilling ahead 10
Slide 11: The Edikan Gold Mine ("EGM")
The Edikan Gold Mine ("EGM") For personal use only ESUAJAH NORTH ESUAJAH ABNABNA SOUTH FOBINSO Mill Site FETISH BOKITSI MAMPON CHIRAWEWA Reserves Resources Current Production Pits DADIESO 11
Slide 12: For personal use only
For personal use only
Slide 13: Edikan Gold Mine - Quality Project
Edikan Gold Mine - Quality Project For personal use only Large deposits - 80m wide ore bodies bulk mineable Open pit operations (W:O 3.4:1 ) Large mill, ramping up to 8mtpa Low cost, low consumer of power, cyanide, grinding, media Favourable recovery at coarse grind, currently 85%-90%, increasing to
Slide 14: Edikan Gold Mine - Guidance
Edikan Gold Mine - Guidance For personal use only Dec Qtr 12 Jan - Jun 13 FY 2012/13 Throughput (dry Mt) 1,700,000 3,600,000 6,600,000 Head grade 1.43g/t 1.24g/t 1.3g/t Gold recovered (oz) 65,000-70,000 127,000 - 143,000 245,000 - 265,000 Adjusted C1 cash $575 $625 $600 cost (US$/oz) Overheads 12% U
Slide 15: Edikan Gold Mine Simplified Flow Sheet
Edikan Gold Mine Simplified Flow Sheet For personal use only 1,200tph Oxide Fresh Rock capacity Coarse Feed Crusher Ore Stockpile 400tph 1,000tph capacity capacity SAG 212 micron Flotation Tails Milling GRAVITY FLOTATION 14MW SAG mill, Currently using 12MW Current milling 750-900tph Ramping up to 1,
Slide 16: Edikan Gold Mine - Mill Performance
Edikan Gold Mine - Mill Performance Month Days of mill throughput exceeding: Gold Produced For personal use only days kt/d average days 19kt/d 20kt/d lost2 avg.3 oz/day4 +700oz5 April 1 0 1 14.0 626 13 May 1 0 1 14.4 601 11 June 0 0 3 11.5 505 4 July 2 1 6 15.8 650 9 August 7 2 0 15.7 628 13 Septemb
Slide 17: Corporate Responsibility
Corporate Responsibility For personal use only Environment OH&S Host Communities Employee training & benefits
Slide 18: Perseus Licences - Côte d'Ivoire
Perseus Licences - Côte d'Ivoire ~3000 sq km Under explored For personal use only Sissingué Resource: 0.93Moz M&I, 0.26Moz Inf. Reserve: 0.66Moz Tengrela Significant intercepts on multiple prospects - mostly small satellites Mbengue, Drilling assays pending Napiè Drilling assays pending Underexplore
Slide 19: Sissingué Gold Project Status
Sissingué Gold Project Status Permitting Completed For personal use only • Environmental and Social Impact Assessment approved by Ivorian National Environmental Agency (ANDE) • Exploitation Permit granted August 2012 Detailed design/tenders • Detailed design approximately 98% complete • All key equi
Slide 20: Sissingué Gold Project
Sissingué Gold Project For personal use only Capital budget US$115M (Nov 2010 estimate) • Tendered equipment prices in line with expectations • Optional additional US$33M for HV power line to connect the mine to national power grid • Project Expenditure to Date totals US$11.9 million • Early works -
Slide 21: Perseus The Future
Perseus The Future Ramp up Edikan Gold Mine - Increase throughput beyond name plate and For personal use only continue to grow reserves Develop and grow Sissingué - Bring mine into production in Q1 2014 could add 170koz to production profile and reduce overall cash cost, will step up exploration and
Slide 22: Mineral Resources
Mineral Resources Mineral Resources (Gold) Including Reserves For personal use only Measured Indicated Inferred Deposit Tonnes g/t oz. Tonnes g/t oz. Tonnes g/t oz. (cut-off g/t Au) (million) Au Au (million) Au Au (million) Au Au (,000) (,000) (,000) Edikan Gold Mine 49.5 1.5 2,367 38.2 1.3 1,814 24
Slide 23: Mineral Reserves
Mineral Reserves For personal use only Mineral Reserves (Gold) Deposit Proven Probable Total Tonnes g/t Ounces Tonnes g/t Ounces Tonnes g/t Ounces (million) Au Au (million) Au Au (million) Au Au (,000) (,000) (,000) Edikan >0.4g/t 64.6 1.2 2,417 29.2 1.0 961 93.8 1.1 3,378 Tengrela >0.55g/t 9.7 2.1