Slide 1: West Africa's Next Large Gold Producer
For personal use only ASX/TSX: PRU www.perseusmining.com West Africa’s Next Large Gold Producer Mark Calderwood Managing Director May 2011
Slide 2: Competent Person's Statement and Forward-Looking Statements
Competent Person’s Statement For personal use only 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 Member of The Australasian Institute of Mining and Metallurgy. Mr Calderwood is
Slide 3: Introduction: Closing in on Production
Introduction Closing in on Production For personal use only Perseus the Company Perseus the Miner Perseus the Explorer Perseus the Future 3
Slide 4: "Elephant Country"
For personal use only “Elephant Country” TENGRELA 1. Obusai 60Moz+ 2. Tarkwa 40Moz+ 3. Ahafo 17Moz+ 4. Prestia-Bogusu 13Moz+ 5. Loulo 12Moz+ 6. Sadiola-Yatela 8Moz+ 7. Lero 8Moz+ ASHANTI BELT (CAGP, Grumesa) 8. Akyem 8Moz+ 9. Syama 7Moz+ 10. Morila 7Moz+ 11. Siguiri 7Moz+ 12. Bibiani 7Moz+ 4
Slide 5: Gold Resources & Reserves – Capital Structure
For personal use only Gold Resources & Reserves – Capital Structure 5.7Moz (84% in Ghana) in M&I Resources (159.8Mt at 1.1g/t) Including 3.9Moz (83% in Ghana) in Reserves (96.6Mt at 1.3g/t) ....................................................................... Additional 2.2Moz (88% in Ghana) in In
Slide 6: Cash Forecast FY2010-11
Cash Forecast FY2010-11 Forecast June Qtr 2011 US$ For personal use only Cash 31/03/2011 70M Debt (currently undrawn) 85M Less Cash Payments CAGP Development (incl. Drilling) 50M Exploration/Evaluation 2M Corporate 2M Forecast available funds 30/6/2011 ~100M Forecast cash payments CAGP Capex & 40M w
Slide 7: Perseus Ghana: Ashanti Belt Projects
Perseus Ghana: Ashanti Belt Projects CAGP For personal use only Measured & 4.3Moz Indicated Resources including; CAGP Grumesa Proven & Probable 3.3Moz Reserves Inferred Resource 1.7Moz Next update Q3 2011 Grumesa Measured & Indicated 0.5Moz Resources 7
Slide 8: CAGP (Ayanfuri)
CAGP (Ayanfuri) Targets For personal use only Reserves 2009 2Moz 2010 3Moz 2011 4Moz Mill Site Production FY 2011-2012 +200,000ozpa FY 2012-13 /14 +280,000ozpa Exploration 1 discovery p.a. 8
Slide 9: Straight Forward Operation
For personal use only Straight Forward Operation Mining Low Strip Ratio - 2.8:1 Wide ore bodies - ~80m, low selectivity Contract mining Target 8 Mt ore year 1 Processing (6.3Mtpa – 8.1Mtpa) Free milling ore - clean granite, gold in stockwork veins. All new equipment Crushing & grinding installed cap
Slide 10: Re-optimised plan
For personal use only Re-optimised plan - 3 year window US$ FY2012 FY2013 FY2014 Ore Treated 6.3Mt 8.1Mt 8.1Mt Head Grade 1.33g/t 1.24g/t 1.24g/t Gold Produced 227koz 283koz 290koz C1 cash costs $132M $144M $155M C1 cash cost/oz $581/oz $511/oz $535/oz Sustaining Capex $34M $38M $19M EBITDA $1,150/o
Slide 11: Mining
Mining Waste Mined (BCMs) Ore Mined (t) Mined Grade (g/t) For personal use only Total BCMs Mined actual 1,759,095 1,718,267 95,227 1.57 budget 1,521,450 1,447,498 143,406 0.73 grade control revealing excellent continuity 11
Slide 12: Stage pit - Scale of the Orebody
For personal use only Stage 1 pit - Scale of the Orebody Section 26,400E (AF-Gap) 50m Stage 1 pit Section 25,900E (Abnabna) 50m 12
Slide 13: Construction Progress
For personal use only Construction Progress cold commissioning of crusher commenced 13
Slide 14: Construction Progress
For personal use only Construction Progress 14
Slide 15: Construction Progress
For personal use only Construction Progress 15
Slide 16: Construction Progress - Scale
For personal use only Construction Progress - Scale 54’’ Gyratory Crusher 34’ SAG mill 16
Slide 17: Construction Progress - Scale
For personal use only Construction Progress - Scale one of the two trash screens one of the two 7MW SAG mill motors 17
Slide 18: Perseus the Explorer
For personal use only Perseus the Explorer 8 Ghana Ivory Coast Growth: 7 Inferred Meas. & Ind. M&I Resources 6 Reserves ~1.6Mozpa in 3 years 5 P&P Reserves 4 ~2.0Mozpa in 2 years 3 2 1 Moz 2005 2006 2007 2008 2009 2010 18
Slide 19: Perseus the Explorer
For personal use only Perseus the Explorer 70Moz TENGRELA ASHANTI BELT (CAGP, Grumesa) 170Moz 19
Slide 20: Perseus Ivory Coast
For personal use only Perseus Ivory Coast Sissingue 0.9Moz M&I (15.2Mt) Inferred 0.3Moz 0.66Moz Reserve (9.7Mt) Exploration Discoveries 2010: Kanakono Podio Sissingue East 20
Slide 21: Growth - Ivory Coast
Growth - Ivory Coast Targets For personal use only Reserves Sissingue 2012 1.0Moz 2013 1.5Moz Production Phase 1: Q1 2013 178,000oz year 1 162,000oz year 2 Exploration Drilling 2011: 125,000m 21
Slide 22: Tengrela Gold Project Feasibility
Tengrela Gold Project Feasibility Nov 2010 For personal use only 657,000oz Initial Probable Ore Reserve In the first 2 years: Production: 340,000oz LOM: 5.6 years Cash costs: US$421/oz LOM: US$505/oz EBITDA: US$221M at US$1,100 Au 22
Slide 23: Perseus the Future - Robust Production
Perseus the Future - Robust Production 500 For personal use only EBITDA* Targets (US$) based on $700 margin Tengrela 400 2011 - $ 60M 300 2012 - $200M X 1000 oz 2013 - $300M 200 2014 - $300M CAGP *at project level 100 0 2010 2011 2012 2013 2014 23
Slide 24: Contact
For personal use only ASX/TSX: PRU www.perseusmining.com Mark Calderwood Nathan Ryan Managing Director Investor Relations +61 8 9240 6344 +61 420 582 887 Rebecca Greco Investor Relations +1 416 822 6483 24