Perseus Mining Limited · ASX:PRU
Perseus Mining — Q4 FY2024 Earnings Presentation
29 slides from Perseus Mining's earnings presentation, Jul 30, 2024
Slide 1: June 2024 Quarter Report Webinar
Perseds MINING JUNE 2024 QUARTER REPORT WEBINAR 30 JULY 2024 ASX/TSX: PRU
Slide 2: Cautionary Statements
CAUTIONARY STATEMENTS COMPETENT PERSON STATEMENT: comprehensive compilation of all available data applicable to the estimation of Mineral Resources and Mineral Reserves. Reference is made to Perseus’s news release dated 31 May 2024 titled "Perseus progresses Nyanzaga Gold Project” for further clarif
Slide 3: Overview of Operating & Financial Results
OVERVIEW OF OPERATING & FINANCIAL RESULTS PERSEUS MINING LIMITED PERSEUSMINING.COM 3
Slide 4: Perseus Continued Its Strong Operating Performance in June 2024 Quarter
PERSEUS CONTINUED ITS STRONG OPERATING PERFORMANCE IN JUNE 2024 QUARTER GOLD PRODUCED ALL-IN SITE COST AVG GOLD SALE PRICE CASH MARGIN (2) NOTIONAL CASHFLOW(2) NET CASH & BULLION 120,929 oz US$1,173/oz US$2,117/oz US$944/oz US$117M US$587 (3),(4) Down 5.1% (1) Up US$82/oz(1) Up US$92/oz(1) Up $10/oz
Slide 5: Which Resulted in Excellent Results for the Full 2024 Financial Year
WHICH RESULTED IN EXCELLENT RESULTS FOR THE FULL 2024 FINANCIAL YEAR GOLD PRODUCED ALL-IN SITE COST AVG GOLD SALE PRICE CASH MARGIN (3) NOTIONAL CASHFLOW(2) NET CASH & BULLION 509,977 oz(1) US$1,053/oz(1) US$2,014/oz US$961/oz US$490M US$587 (4) Down 4.7% (2) Up US$94/oz(2) Up US$211/oz(2) Up $117/o
Slide 6: Growth in Gold Production at Attractive Margins
GROWTH IN GOLD PRODUCTION AT ATTRACTIVE MARGINS • Perseus group has: – Averaged 513,091 ounces of gold production at AISC of US$988/ounce for the last 3 financial years. – Achieved or exceeded production & AISC market guidance since H1 2020 (Start Covid). • Group AISCs reasonably stable in an inflat
Slide 7: Delivered on Both Group Production and Cost Guidance in FY2024
DELIVERED ON BOTH GROUP PRODUCTION AND COST GUIDANCE IN FY2024 JUNE 2024 HALF YEAR 2024 FINANCIAL YEAR PARAMETER UNITS Guidance Actual Guidance Actual Yaouré Gold Mine Production Ounces 100,000 to 113,000 116,478 235,000 to 247,000 250,857 All-in Site Cost USD per ounce 1,150 to 1,300 1,103 900 to 1
Slide 8: Q4 FY2024 Overview of Yaouré
Q4 FY2024 OVERVIEW OF YAOURÉ • 55,195 ounces of gold produced, ~ 46% of Perseus’s total production, down slightly on Q3 FY2024. Result based on sound metrics of runtime (91.9%) and recovery (92.3%). Head grade (1.79g/t) 17.5% lower than Q3 FY2024. • Production cost of US$953 per ounce and AISC of US
Slide 9: Q4 FY2024 Overview of Edikan
Q4 FY2024 OVERVIEW OF EDIKAN • 47,337 ounces of gold produced, ~ 39% of Perseus’s total production, 3.6% less than Q3 FY2024. Result based on sound metrics of runtime (95.0%), head grade (1.03g/t), recovery (91.4%) • Production cost of US$789 per ounce and AISC of US$1015 per oz, 3% up higher than Q
Slide 10: Q4 FY2024 Overview of Sissingué
Q4 FY2024 OVERVIEW OF SISSINGUÉ • 18,397 ounces of gold produced, ~ 15% of Perseus’s total production, 7% increase over Q3 FY2024, based on sound metrics of runtime (93%), grade (1.76g/t), recovery (91.4%) • Production cost of US$1,333 per ounce and AISC of US$1,530 per oz, 6% down on Q3 FY2024. • F
Slide 11: Guided Production and Costs for H1 FY2025 & Calendar 2024
GUIDED PRODUCTION AND COSTS FOR H1 FY2025 & CALENDAR 2024 JUNE 2024 DECEMBER 2024 2024 CALENDAR PARAMETER UNITS HALF YEAR HALF YEAR YEAR (ACTUAL) (FORECAST) (FORECAST) Yaouré Gold Mine Production Ounces 116,478 108,000 to 124,000 224,478 to 240,478 All-in Site Cost USD per ounce 1,103 1,175 to 1,275
Slide 12: Financial Position
FINANCIAL POSITION PERSEUS MINING LIMITED PERSEUSMINING.COM 12
Slide 13: Q4 FY24 Cashflow and Balance Sheet
Q4 FY24 CASHFLOW AND BALANCE SHEET • Cash (US$537 million) and bullion (US$50 million) totaling US$587 million at 30 June 2024 • Zero debt, with US$300 million undrawn credit line • Q4 FY24 Cashflow included: • Cash from operations of US$162M • Tax payments US$52M • OreCorp acquisition US$151M • Ope
Slide 14: Capital Management Framework
CAPITAL MANAGEMENT FRAMEWORK Targets and priorities ➢ RELIABLE AND STRONG OPERATING CASH FLOW • Optimise Operating Cash flow • Ensure commitments to all stakeholders are fully funded. RELIABLE AND DISCRETIONARY STRONG INVESTMENT OPERATING ➢ MAINTAIN BALANCE SHEET RESILIENCE under a range of trading
Slide 15: Capital Management
CAPITAL MANAGEMENT • Perseus generates significant quantities of free cash given gold production, elevated gold prices and relatively low AISC. • We have a clearly articulated plan to improve the quality of our asset portfolio through a combination of organic growth and opportunistic M & A – In Q4 F
Slide 16: Sustainability Performance
SUSTAINABILITY PERFORMANCE PERSEUS MINING LIMITED PERSEUSMINING.COM 16
Slide 17: Sustainability
SUSTAINABILITY SAFETY • Safety performance across the Group remained stable. Group 12-month rolling average Total Recordable Injury Frequency Rate (TRIFR) remained stable finishing the quarter and FY24 at 1.06, below the target of 1.14 . There were 3 recordable injuries for the June quarter across t
Slide 18: Organic Growth
ORGANIC GROWTH PERSEUS MINING LIMITED PERSEUSMINING.COM 18
Slide 19: Exploration Cote d'Ivoire
EXPLORATION COTE D’IVOIRE - Yaouré Exploitation Permit • Drilling undertaken at CMA Underground North Plunge, at Yaouré Pit and at Zain 1. • Follow-up Stage 2 drilling at CMA Underground North Plunge confirmed mineralisation in the footwall of CMA. Potential for bifurcation of structure towards NW,
Slide 20: Exploration
EXPLORATION SUDAN - Meyas Sand Gold Project • A market update was released in May providing an update on exploration activities and studies completed to date for the Meyas Sand Gold Project(1). • Drilling recommenced on site on 20 May 2024 aimed at testing high priority exploration targets in the Ga
Slide 21: CMA Underground Mine Development Project
CMA UNDERGROUND MINE DEVELOPMENT PROJECT Sound progress made towards FID on the CMA Underground Mine Development Project in October 2024. Critical Pre-FID Activities ➢ Recruitment of UG Mining Team Key Personnel • UG Manager – Commenced 02 July 2024. • Initial task to oversee operational readiness a
Slide 22: CMA Underground Development Project
CMA UNDERGROUND DEVELOPMENT PROJECT Critical Pre-FID Activities ➢ UG Mining Tender (ITT) • Tenders received. • Detailed technical and commercial assessment underway. • Longer contract terms will be considered. ➢ Mine Services Area and Administration • Infrastructure design and layouts will be valida
Slide 23: CMA Underground Development Project
CMA UNDERGROUND DEVELOPMENT PROJECT Critical Pre-FID Activities ➢ Camp Upgrade 90 x Rooms. ➢ Camp Services Upgrade (Water, Sewage, Power). ➢ Project Setup and Reporting. Early Infrastructure Works New Camp Rooms Building Renovation Early Infrastructure PERSEUS MINING PERSEUSMINING.COM 23 Camp Buildi
Slide 24: High-Level Schedule
HIGH-LEVEL SCHEDULE PERSEUS MINING PERSEUSMINING.COM 24
Slide 25: Inorganic Growth
INORGANIC GROWTH PERSEUS MINING LIMITED PERSEUSMINING.COM 17
Slide 26: Inorganic Business Growth
INORGANIC BUSINESS GROWTH NYANZAGA GOLD PROJECT - TANZANIA • Nyanzaga Gold Project, is a pre-development project located in northwest Tanzania with a reported Probable Ore Reserve of 40.08 Mt @ 2.02 g/t gold for 2.60 million ounces of gold1. • An 80% interest in the project was acquired by Perseus t
Slide 27: Nyanzaga - Pictorial
NYANZAGA - PICTORIAL Above left: Perseus’s management team meets with Tanzanian Minister for Minerals, Honourable Anthony Mavunde (centre) Above centre: Key infrastructure under construction near the Nyanzaga mine site. Above right: Site of the proposed Nyanzaga Gold Mine. Right: First of Capital Dr
Slide 28: High Level Schedule
HIGH LEVEL SCHEDULE PERSEUS MINING PERSEUSMINING.COM 28
Slide 29: For information contact
For Thismore information presentation wasplease contact: authorised for release by Perseus Executive Chairman and CEO, Jeff Quartermaine ASX/TSX: PRU | WWW.PERSEUSMINING.COM