Slide 1: Jeff Quartermaine, Managing Director & CEO, February 2018
For personal use only Jeff Quartermaine Managing Director & CEO February 2018 ASX/TSX: PRU www.perseusmining.com 1
Slide 2: Cautionary Statements
Cautionary Statements For personal use only Disclaimer No representation or warranty, express or implied, is made by Perseus that the material contained in this presentation will be achieved or prove to be correct. Except for statutory liability which cannot be excluded, each of Perseus, its directo
Slide 3: ASX Listing Rule and National Instrument 43-101 Compliance Note
Cautionary Statements For personal use only ASX Listing Rule and National Instrument 43-101 Compliance Note All production targets for Edikan, Sissingué and Yaouré referred to in this report are underpinned by estimated Ore Reserves which have been prepared by competent persons in accordance with th
Slide 4: Snapshot Of Perseus Mining Limited
Snapshot Of Perseus Mining Limited For personal use only Internationally owned, West African focussed gold producer, developer and explorer Sizeable JORC compliant Mineral Resource & Ore Reserve inventory, two operating mines and one near-development project Strong production growth profile based on
Slide 5: Clearly defined and simple strategy for value creation
Clearly defined and simple strategy for value creation For personal use only Successfully Drive continuous develop and Leverage team’s improvement in operate multiple, extensive skills productivity gold mines in a and experience spread of West African geo- political settings Expedite new Maintain st
Slide 6: Geo-politically diversified asset base in West Africa
Geo-politically diversified asset base in West Africa For personal use only Our Locations Assets Côte d’Ivoire - Sissingué (86%)1,2 M&I Mineral Resource: 0.8Moz Sissingué Gold Mine Ore Reserve: 0.4Moz Edikan Gold Ghana - Edikan (90%)1 Mine M&I Mineral Resource: 4.9Moz Côte d’Ivoire - Yaouré (90%)3 O
Slide 7: Edikan Gold Mine – Perseus's first operating mine
Edikan Gold Mine – Perseus’s first operating mine For personal use only • Large scale, low grade, multi-pit, open cut gold mining operation that’s produced ~1.175 Moz since first gold in 2011. • 4.9 Moz in M&I Mineral Resources including 1.9 Moz in P&P Ore Reserve at 30 June 2017. • In 2017, produce
Slide 8: Sissingué Gold Mine – Perseus's newest mine
Sissingué Gold Mine – Perseus’s newest mine For personal use only • Relatively small, high grade, low cost operation that combines the Sissingué, Bélé East and West deposits. • Constructed ahead of schedule and on budget with first gold poured in January 2018. • 0.8 Moz in M&I Mineral Resources incl
Slide 9: Yaouré Gold Project – Perseus's next gold mine
Yaouré Gold Project – Perseus’s next gold mine For personal use only • High quality development project located close to excellent existing infrastructure. • Positive DFS completed in October 2017 confirmed that Yaouré is: Economically attractive – IRR of 27% gold & 32 month payback period at US$1
Slide 10: Strong longer term growth profile
Strong longer term growth profile For personal use only Production (koz /yr) AISC (US$/oz) 600 1,600 Growth to be derived from existing assets and JORC Ore Reserves 500 1,200 No incremental discovery 400 or acquisition required 300 800 Delivery of growth a function of: 200 400 Operating risk
Slide 11: Perseus's Value Proposition
For personal use only PERSEUS’S VALUE PROPOSITION 11
Slide 12: Existing Capital Structure
Existing Capital Structure For personal use only As at 20 February 2018 AUD USD ASX Share price per share 0.43 0.34 Shares outstanding 1,033 m 1,033 m Warrants outstanding1 131 m 131 m Market capitalisation 444 m 351 m Less: Cash 2 45 m 36 m Plus: Debt 3 63 m 50 m Enterprise value 462 m 365 m Note:
Slide 13: Value Proposition Is Clear….
Value Proposition Is Clear…. For personal use only • While recently improved, Perseus’s share price still does not reflect intrinsic value • At a price of A$0.43 per share, Perseus trades at a discount to broker’s NAV/share and even greater discount to intrinsic value/share based on NPV10 of future
Slide 14: Value gap has been reduced by…
Value gap has been reduced by… For personal use only • Four consecutive quarters of strong operating performance at Edikan demonstrates: Life of Mine cash flow forecasts are reasonable and achievable Operating team is in place and capable of delivering targeted outcomes • Development and commiss
Slide 15: Strong longer term growth profile is achieveable
Strong longer term growth profile is achieveable For personal use only Production (koz /yr) AISC (US$/oz) 600 1,600 ..and as the track 500 1,200 400 record of performance extends and de-risking continues, Perseus’s 300 800 200 share price should 100 400 respond, further closing the value gap. 0 0 20
Slide 16: Contact Us
Contact Us For personal use only ASX/TSX: PRU www.perseusmining.com Jeff Quartermaine Managing Director & CEO +61 8 6144 1700 Nathan Ryan Media Relations (Australia) +61 420 582 887 16