Perseus Mining Limited · ASX:PRU
Perseus Mining — 31st Global Metals & Mining Conference (February 2022)
30 slides from Perseus Mining's conference presentation, Feb 28, 2022
Slide 1: West African Gold Producer, Developer and Explorer
WEST AFRICAN GOLD PRODUCER, DEVELOPER AND EXPLORER 28 FEBRUARY 2022 ASX/TSX: PRU | WWW.PERSEUSMINING.COM 31st Global Metals & Mining Conference
Slide 2: Cautionary Statements
CAUTIONARY STATEMENTS CAUTION REGARDING FORWARD LOOKING INFORMATION: “Perseus Mining Updates Mineral Resources and Ore Reserves” released on 24 August 2021. The Company confirms that it is not aware of any new information or data that materially affect the information in those market releases and th
Slide 3: Contents
OUR BUSINESS 4 CONTENTS FY21 FINANCIAL & OPERATING PERFORMANCE 8 OPERATING ASSETS 13 EXPLORATION: ORGANIC GROWTH PIPELINE 15 SUSTAINABILITY PERFORMANCE 20 PERSEUS MINING PERSEUSMINING.COM 3
Slide 4: Our Business
OUR BUSINESS PERSEUS MINING PERSEUSMINING.COM 4
Slide 5: Perseus - A Compelling Mid-Tier Gold Investment Opportunity
PERSEUS - A COMPELLING MID-TIER GOLD INVESTMENT OPPORTUNITY African focused multi-mine gold producer, developer & explorer, active in multiple jurisdictions Consistent & profitable gold producer producing at rate of ~500,000oz pa at ~US$950 per ounce Balance sheet capacity and strong cash flows to f
Slide 6: Capital Structure
CAPITAL STRUCTURE AUD USD Aggregated shareholder base at 31 December 2021 ASX Share price per share1 1.74 1.26 1 Van Eck Associates Corp. 2 T. Rowe Price Associates Inc Shares outstanding 1,233.2 m 1,233.2 m 3 Dimensional Fund Advisors LP Performance Rights 21.2 m 21.2 m 4 The Vanguard Group Holding
Slide 7: Experienced Board & Management Team
EXPERIENCED BOARD & MANAGEMENT TEAM Sean Harvey Jeff Quartermaine Amber Banfield Elissa Brown Non-Executive Chairman CEO and Managing Director Non-Executive Director Non-Executive Director Dan Lougher John McGloin David Ransom Non-Executive Director Non-Executive Director Non-Executive Director PERS
Slide 8: CY 2021 Operating Performance & Financial Results
CY 2021 OPERATING PERFORMANCE & FINANCIAL RESULTS PERSEUS MINING LIMITED PERSEUSMINING.COM 8
Slide 9: Calendar Year 2021 Highlights
CALENDAR YEAR 2021 HIGHLIGHTS Gold Now producing at production targeted rate of and AISC at >500,000 ozs at top end of cash margin of Operating Cash guidance >US$650 per oz Flow(1) of ranges US$334M resulting in Strong growth Cash & bullion in after-tax of US$212M earnings leading to declaration of
Slide 10: Calendar Year 2021 - Gold Production & AISC at Top End of Guidance
CALENDAR YEAR 2021 - GOLD PRODUCTION & AISC AT TOP END OF GUIDANCE1 Gold Production2 AISC Gold Price Producing at rate Positioned for 432,410 oz US$985/oz US$1,653/oz of 500,000 oz/yr future growth Notes: 1 Guidance for Calendar 2021 was 416-446,000 ounces at US$975 – 1,035 per ounce. 2 Includes Yao
Slide 11: Calendar Year 2021 - Strong Financial Performance
CALENDAR YEAR 2021 – STRONG FINANCIAL PERFORMANCE REVENUE PROFIT AFTER TAX OPERATING CASH FLOW1 Net Cash DIVIDEND POLICY A$938.7M A$217.2M A$444.3M A$222.8M Sustainable Up 56% y-on-y Up 92% y-on-y Up 83% y-on-y Up $238.5M 1% annual yield y-on-y Notes: 1 CY Net cash inflows from operating activities.
Slide 12: Production & Cost Market Guidance
PRODUCTION & COST MARKET GUIDANCE Parameter Units Dec 2021 Jun 2022 2022 Half Year Half Year Financial Year (Actual) (Forecast) (Forecast) STEADILY IMPROVING Yaouré Gold Mine GROUP OPERATING Production Ounces 139,747 130,000 - 140,000 269,747 - 279,747 PERFORMANCE All-in Site Cost USD /oz 687 765 to
Slide 13: Operating Mines
OPERATING MINES PERSEUS MINING LIMITED PERSEUSMINING.COM 13
Slide 14: Three Producing Gold Mines
THREE PRODUCING GOLD MINES Sissingué (86%)1 - Côte d’Ivoire M&I Mineral Resource: 407koz Ore Reserve: 324koz Life of Mine: 3+ years As a multi-mine, West Africa multi-jurisdictional Yaouré (90%)1, 2 - Côte d’Ivoire operator, Perseus can manage risk through M&I Open Pit Mineral Resource: 2.21Moz port
Slide 15: Development Projects
DEVELOPMENT PROJECTS PERSEUS MINING LIMITED PERSEUSMINING.COM 15
Slide 16: Overview of Offer to Acquire Orca Gold
OVERVIEW OF OFFER TO ACQUIRE ORCA GOLD A FAIRLY PRICED, VALUE ACCRETIVE, SCRIP BASED OFFER…. • Perseus Mining Limited (“Perseus” or the “Company”) (ASX/TSX:PRU) has entered into a definitive agreement (the “Arrangement Agreement”) with Orca Gold Inc. (“Orca”) (TSXV: Overview ORG) under which Perseus
Slide 17: Pro-Forma Operational & Development Footprint
PRO-FORMA OPERATIONAL & DEVELOPMENT FOOTPRINT Sissingué (86%)1 - Côte d’Ivoire Block 14 (70%)2 - Sudan M&I Mineral Resource: 407koz Indicated Mineral Resource: 3.34Moz Ore Reserve: 324koz Ore Reserve: 2.85Moz Life of Mine: 3+ years West Africa Yaouré (90%)1 - Côte d’Ivoire M&I Open Pit Mineral 2.21M
Slide 18: Block 14 Project
BLOCK 14 PROJECT NEAR DEVELOPMENT READY GOLD PROJECT IN SUDAN • Project fully permitted including Mining Lease, Royalty Agreement & Water Permit • Feasibility Study completed in September 2020 with project near “shovel ready” • Engineering will be reviewed by Perseus and updated as required o FEED s
Slide 19: Montage Gold Corp - TSX-V MAU
MONTAGE GOLD CORP – TSX-V MAU MONTAGE PROVIDES FURTHER DEVELOPMENT OPTIONALITY FOR PERSEUS • Orca has a 31.4% shareholding in Montage • Several Orca shareholders also have an ownership interest in Montage including the Lundin Family (6.8% shareholding) • Montage owns a 3,750 km2 exploration portfoli
Slide 20: Exploration: Organic Growth Pipeline
EXPLORATION: ORGANIC GROWTH PIPELINE PERSEUS MINING LIMITED PERSEUSMINING.COM 20
Slide 21: Organic Growth - The Way Forward
ORGANIC GROWTH – THE WAY FORWARD VALUE DRIVEN 3 YEAR EXPLORATION PROGRAMME • Integrated pipeline of organic growth opportunities targeting 1.7Moz to 2.4Moz1 of additional JORC compliant Ore Reserve by FY2024, requiring around 650km of drilling • Opportunities currently being drilled adjacent to exis
Slide 22: Perseus's Targeted Organic Growth
PERSEUS’S TARGETED ORGANIC GROWTH Existing Ore Reserves + Targeted Organic Growth 600 Target > 500,000 ounces per year at > $400/oz margin 500 400 k oz 300 200 100 - FY22 FY23 FY24 FY25 FY26 FY27 FY28 FY29 FY30 Perseus Existing Ore Reserve Perseus Organic Growth Target • Targeting between 1.7Moz to
Slide 23: Sustainability Performance
SUSTAINABILITY PERFORMANCE PERSEUS MINING LIMITED PERSEUSMINING.COM 23
Slide 24: Our Approach to Sustainability
OUR APPROACH TO SUSTAINABILITY We believe that responsible gold mining can play a progressive role in the sustainable development of emerging economies, and deliver sustainable returns to our shareholders PERSEUS MINING PERSEUSMINING.COM 24
Slide 25: 3-Year Sustainability Roadmap
3-YEAR SUSTAINABILITY ROADMAP Consistently protect value Build social value INITIATIVES TO GET US THERE FY22 FY23 FY24 Harmonise Implementation and Implementation and sustainability risk capability building, capability building management establish social Implement strategic Governance framework per
Slide 26: For More Information Please Contact
The Managing Director & CEO, Jeff Quartermaine, authorized the release of this presentation. For more information please contact: Jeff Quartermaine Managing Director & CEO jeff.quartermaine@perseusmining.com +61 411 725 521 ASX/TSX: PRU | WWW.PERSEUSMINING.COM
Slide 27: Appendix I: Mineral Resources and Ore Reserves
APPENDIX I: MINERAL RESOURCES AND ORE RESERVES PERSEUS MINING PERSEUSMINING.COM 27
Slide 28: Additional Disclosures Regarding Reserve and Resource Information
ADDITIONAL DISCLOSURES REGARDING RESERVE AND RESOURCE INFORMATION Production targets generally. All production targets and forecast financial information related to those targets referred to in this presentation are underpinned by estimated Ore Reserves which have been prepared by competent persons
Slide 29: Perseus Group - Mineral Resources and Ore Reserves
PERSEUS GROUP – MINERAL RESOURCES AND ORE RESERVES Table 1: Perseus Mining Mineral Resources – 30 June 2021 1,3 Measured & Indicated Measured Resources Indicated Resources Inferred Resources Resources Project Quantity Grade Gold Quantity Grade Gold Quantity Grade Gold Quantity Grade Gold g/t g/t g/t
Slide 30: Block 14 Project - Mineral Resource and Mineral Reserve
BLOCK 14 PROJECT - MINERAL RESOURCE AND MINERAL RESERVE TABLE 3: BLOCK 14 MINERAL RESOURCES Notes for Table 3: 1. Based on September 2018 estimates of Galat Sufar South and Wadi Doum Indicated Inferred Mineral Resources by MPR Geological Consultants Pty Ltd. 2. 0.6 g/t cut-off grade applied to all m
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