Slide 1: Denver Gold Forum
For personal use only DENVER GOLD FORUM September 2014 Jeff Quartermaine Managing Director & CEO ASX/TSX: PRU www.perseusmining.com
Slide 2: Cautionary Statements
Cautionary Statements For personal use only Forward-Looking Statements This report contains forward-looking information which is based on the assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected deve
Slide 3: Perseus in a Snapshot
Perseus in a Snapshot For personal use only Debt West African Highly motivated Currently producing Debt free balance Experienced and focused ASX/TSX to deliver improved ~200,000oz gold sheet includes capable board and listed gold explorer, total shareholder pa with projected cash & bullion managemen
Slide 4: Perseus' West African Projects
Perseus’ West African Projects For personal use only Mauritania Mali Niger Senegal Mali Burkina 70Moz Faso Guinea Nigeria Burkina Faso Benin Ghana Togo Sissingué Côte d’Ivoire Ghana Guinea Sierra Ghana Leone Côte d’Ivoire Liberia 170Moz Edikan
Slide 5: Mineral Resources and Reserves
Mineral Resources* and Reserves** For personal use only 6.8Moz of gold (86% in Ghana) in Measured & Indicated Mineral Resources (196Mt at 1.0g/t) INCLUDING PLUS 3.8Moz of gold 2.9Moz of gold (82% in Ghana) (90% in Ghana) in Proven in Inferred & Probable Reserves Mineral Resources (97Mt at 1.2g/t) (9
Slide 6: Key Investment Parameters
Key Investment Parameters For personal use only 526.66m outstanding ordinary shares 534.64m shares fully diluted Share ownership Australia (~45%), US & Canada (~42%), Europe (~10%), Asia (~3%) High quality share register with top 25 investors owning ~51% of issued capital Average daily turnover (3 m
Slide 7: Corporate Plan
Corporate Plan For personal use only Objective is to maximise total Strategy involves organically Key short–medium term shareholder returns growing cash flows through: tactics include: • Successful exploration • Optimise operating performance at Edikan • Effective development • Develop and commissio
Slide 8: Edikan Performance Improvement
Edikan Performance Improvement For personal use only
Slide 9: Edikan Site Layout
Edikan Site Layout For personal use only Reserves 5km radius Esuajah Resources Esuajah North South Current production pits Abnabna Fobinso Mill site Fetish Bokitsi Chirawewa Mampong Dadieso
Slide 10: Edikan Performance Improvement
Edikan Performance Improvement For personal use only Gold production Unit costs are is a function of: a function of: Mill throughput rate Cost Base including: Mining (55%) Mill run time Processing (35%) Mill feed grade G&A (10%) Gold Recovery Production rates including: Tonnes mined Tonnes milled Go
Slide 11: 2014 Operating Performance YTD
2014 Operating Performance YTD For personal use only Gold Production & All In Site Costs 20,000 $1,800 Fire in Mill Substation Failure 18,000 $1,600 16,000 $1,400 14,000 $1,200 12,000 $1,000 10,000 $800 8,000 $600 6,000 $400 4,000 2,000 $200 - $- January February March April May June July August Pro
Slide 12: FY2015 Guidance
FY2015 Guidance For personal use only Parameter Units December 2014 June 2015 2015 Half Year Half Year Financial Year Gold Production Ounces 95,000–105,000 115,000–125,000 210,000–230,000 All-In Site Costs* US$/oz 1,160–1,280 1,050–1,150 1,100–1,200 * All-in site costs includes production cost + roy
Slide 13: Cost Performance – Mining
Cost Performance – Mining For personal use only Key to improving all-in Existing mining contract Currently examining site unit cost is reducing expires in May 2016 but alternative mining mining costs may be terminated earlier strategies: at incremental cost • Rate reduction from existing contractor
Slide 14: Re-optimising Mine Plans
Re-optimising Mine Plans For personal use only Aim to maximise Edikan Mineral Updated Mineral Pit development Updated LOMP net present value Resources re-estimated Resource to be used to be rescheduled to and Mineral of cash flows from following mining for pit re-optimisation optimise cash flows Res
Slide 15: Near Mine Exploration Programmes
Near Mine Exploration Programmes For personal use only Near mine exploration Immediate success Initial drilling Part-way through Interesting soil programmes targeting at Bokitsi deposit. programme completed drilling Mampong anomaly at Agyakusu higher grade at Pokokrum indicating deposit with being d
Slide 16: Near Mine Exploration Programmes
Near Mine Exploration Programmes For personal use only
Slide 17: Bokitsi South Vertical Longitudinal Section
Bokitsi South Vertical Longitudinal Section For personal use only 4,160 mN 4,240 mN 4,320 mN 4,400 mN 4,480 mN 160 mRL Original Surface Pit Bottom Top of 11m @ 7.4 Fresh 15m @ 4.2 9m @ 6.8 16m @ 6.4 10m @ 6.7 13m @ 4.8 8.7m @ 8.7 15m @ 5.0 20m @ 8.6 24m @ 4.7 16m @ 3.3 80 mRL 4m @ 10.8 Recent drilli
Slide 18: Sissingué Gold Project – Côte d'Ivoire
Sissingué Gold Project – Côte d’Ivoire For personal use only MALI BURKINA FASO Sissingué Odienné Korhogo Touba Katiola Bondoukou Séguéla Bouaké Man Daloa YAMOUSSOUKRO Abengouro Sinfra GHANA Dimbokro Gagnoa Adzopé Divo Agboville LIBERIA Dabou Aboisso Abidjan San-Pédro Gulf of Guinea 0 50 100km 0 50 1
Slide 19: Recent History of Sissingué Gold Project
Recent History of Sissingué Gold Project For personal use only June 2013: Rising mining and processing costs and falling gold price lead to a project review September 2013: Project development put on temporary hold pending a change in operating conditions and review of processing options October 201
Slide 20: Metallurgical and Process Review
Metallurgical and Process Review For personal use only Completed a 4-month Various laboratories All process routes test work programme used to test different showed positive designed to: process routes returns, but 0.8MTPA gravity/CIL circuit • Reduce power consumption and, appears to generate there
Slide 21: The Next Steps
The Next Steps For personal use only Detailed engineering design and confirmation of project feasibility Review of revised feasibility study by government agencies and confirmation that environmental approvals and exploitation permits are still valid Negotiation of mining convention Conducting regio
Slide 22: CIV – Regional Exploration (Bélé)
CIV – Regional Exploration (Bélé) For personal use only
Slide 23: Conclusion
Conclusion For personal use only Perseus focussed on matters within its control with the aim of restoring investor confidence Foundation established at Edikan to leverage future organic growth in earnings Productivity improvement programmes at Edikan generating tangible results Opportunities for org
Slide 24: Contact
Contact For personal use only ASX/TSX: PRU www.perseusmining.com Jeff Quartermaine Managing Director & CEO +61 8 6144 1700 Nathan Ryan Investor Relations (Australia) +61 420 582 887