Perseus Mining Limited · ASX:PRU
Perseus Mining — Q4 2023 Earnings Presentation
23 slides from Perseus Mining's earnings presentation, Jan 24, 2024
Slide 1: December 2023 Quarter Report Webinar
Perseds MINING DECEMBER 2023 QUARTER REPORT WEBINAR 24 JANUARY 2024 ASX/TSX: PRU
Slide 2: Cautionary Statements
CAUTIONARY STATEMENTS COMPETENT PERSON STATEMENT: CAUTION REGARDING FORWARD LOOKING INFORMATION: All production targets referred to in this report are underpinned by estimated Ore Reserves which have been prepared by This report contains forward-looking information which is based on the assumptions,
Slide 3: Overview of Operating & Financial Results
OVERVIEW OF OPERATING & FINANCIAL RESULTS PERSEUS MINING LIMITED PERSEUSMINING.COM 3
Slide 4: Perseus Continues Market Leading Performance in December 2023 Quarter
PERSEUS CONTINUES MARKET LEADING PERFORMANCE IN DECEMBER 2023 QUARTER GOLD PRODUCED ALL-IN SITE COST AVG GOLD SALE PRICE CASH MARGIN (2) NOTIONAL CASHFLOW(2) NET CASH & BULLION 128,773 oz US$1,023/oz US$1,963/oz US$940/oz US$122M US$642M(3) Down 3%(1) Up US$86/oz(1) Up US$27/oz(1) Down 5.9%(1) Down
Slide 5: December HY and Calendar Year 2023: A Market-Leading Performance
DECEMBER 23 HY AND CALENDAR YEAR 2023 : A MARKET-LEADING PERFORMANCE NOTIONAL GOLD PRODUCED ALL-IN SITE COST AVG GOLD SALE PRICE NET CASH & BULLION CASHFLOW(1) 261,577 oz in H2 US$979/oz in H2 US$1,951/oz in H2 US$254M in H2 US$642M(2) 528,486 oz in CY23 US$984 in CY23 US$1,913/oz in CY23 US$492M in
Slide 6: Growth in Gold Production at Attractive Margins
GROWTH IN GOLD PRODUCTION AT ATTRACTIVE MARGINS • All 3 mines performing well, consistently achieving or exceeding production & AISC market guidance • While gold production and AISC has been consistent period-on-period, gold price has been rising • Cash margin has been steadily rising leading to the
Slide 7: Continue to Successfully Execute Our Business Plans
CONTINUE TO SUCCESSFULLY EXECUTE OUR BUSINESS PLANS Continue to consistently deliver production & costs in line with market expectations PERSEUS MINING PERSEUSMINING.COM 7
Slide 8: Yaouré
YAOURÉ • 60,642 ounces of gold produced, ~47% of Perseus’s total production – head grade 2.27g/t down 8.5% relative to prior period • Production cost of US$794 per ounce and AISC of US$960 per oz, up on prior quarter due to increased TMM and lower gold produced • Going forward, will see upward press
Slide 9: Edikan
EDIKAN • 50,150 ounces of gold produced, ~ 39% of Perseus’s total production, 3% more than Sept 23 quarter. Result based on sound metrics of runtime (95.2%), grade (1.08g/t), recovery (91.7%) • Production cost of US$769 per ounce and AISC of US$930 per oz, 14% less than September 23 quarter • Sales
Slide 10: Sissingué
SISSINGUÉ • 17,981 ounces of gold produced, ~ 14% of Perseus’s total production, 70% increase over Sep 23 quarter, based on sound metrics of runtime (93.8%), grade (1.44g/t), recovery (91.2%) • Production cost of US$1,350 per ounce and AISC of US$1,498 per oz down from US$2,095 per ounce in Sep 23 q
Slide 11: Guided Production and Cost Outlook Remains Strong
GUIDED PRODUCTION AND COST OUTLOOK REMAINS STRONG PARAMETER UNITS DECEMBER 2023 JUNE 2024 HALF 2024 FINANCIAL HALF YEAR (ACTUAL) YEAR FORECAST YEAR FORECAST Yaouré Gold Mine Production Ounces 134,379 100,000 to 113,000 235,000 to 247,000 All-in Site Cost USD per ounce 805 $1,150 to $1,300 $900 to $1
Slide 12: Financial Position
FINANCIAL POSITION PERSEUS MINING LIMITED PERSEUSMINING.COM 12
Slide 13: Cashflow and Balance Sheet
• Cash ($581 million) and bullion CASHFLOW AND BALANCE SHEET (US$61 million) at 31 Dec23 totaling US$642 million • Zero debt, Undrawn credit line of US$300 million • Net increase in cash and bullion of US$48 million • Includes: • Operating CF margin of US$131m • Equity investments of US$40m • Divide
Slide 14: Sustainability Performance
SUSTAINABILITY PERFORMANCE PERSEUS MINING LIMITED PERSEUSMINING.COM 14
Slide 15: Sustainability
SUSTAINABILITY SAFETY • Safety performance across the Group remained stable. Group 12-month rolling average Total Recordable Injury Frequency Rate (TRIFR) decreased slightly from 1.07 last quarter to 0.89 at the end of December 2023. There were 4 recordable injuries for the December quarter across t
Slide 16: Organic Growth
ORGANIC GROWTH PERSEUS MINING LIMITED PERSEUSMINING.COM 16
Slide 17: Project Studies Cote d'Ivoire – Yaouré
PROJECT STUDIES COTE D’IVOIRE – Yaouré • Updated Technical Report for Yaouré: o Results of the updated Life of Mine Plan o Technical and economic viability of extended mine life o Feasibility level study on underground mine on CMA orebody • Extension of Yaouré’s operational life to 12+ years (to at
Slide 18: Exploration Cote d'Ivoire
EXPLORATION SUDAN • Key staff remain on site and are engaged re-establishing services and logistics support in preparation for Perseus to resume exploration activities. COTE D’IVOIRE • Activities focused on drilling at CMA UG North Plunge and the Yaouré Open Pit Deposits, and the newly discovered Za
Slide 19: Exploration
EXPLORATION GHANA • Agyakusu PL - Several targets identified in the portion of the Agyakusu PL not incorporated into the Nanankaw ML. To be tested in the coming quarter. • DML Agyakusu PL - Exploration activities during the quarter focused on drill testing quality soil, auger, and geophysical target
Slide 20: Project Development
PROJECT DEVELOPMENT MEYAS SANDS GOLD PROJECT • Perseus’s 70%-owned Meyas Sand Gold Project (MSGP) is located in northern Sudan near the border with Egypt. • Fully permitted by the Sudanese Government, with a Mining Lease, Royalty agreement and a water permit formally granted incorporating attractive
Slide 21: Inorganic Growth
INORGANIC GROWTH PERSEUS MINING LIMITED PERSEUSMINING.COM 3
Slide 22: Potential Mergers and Acquisitions
POTENTIAL MERGERS AND ACQUISITIONS • Perseus remains committed to its strategy of progressively and economically upgrading the size, quality and geographic distribution of our asset portfolio. • Maintain an active watching brief on all levels of the gold industry on the African continent with the ai
Slide 23: For more information
For Thismore information presentation wasplease for release by Perseus’s Chairman contact: authorised and CEO, Jeff Quartermaine ASX/TSX: PRU | WWW.PERSEUSMINING.COM