Slide 1: Mining Indaba 2019 Corporate Presentation
Mining Indaba 2019 Cape Town For personal use only WEST AFRICAN GOLD PRODUCER, DEVELOPER and EXPLORER CORPORATE PRESENTATION ASX/TSX: PRU www.perseusmining.com PERSEUS MINING LIMITED| WWW.PERSEUSMINING.COM
Slide 2: Cautionary Statements
CAUTIONARY STATEMENTS For personal use only Caution Regarding Forward Looking Information: 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 conditio
Slide 3: A Compelling Investment Opportunity
A COMPELLING INVESTMENT OPPORTUNITY For personal use only West African gold producer, developer & explorer Multi-mine, multi jurisdiction operations 288,463oz production CY2018 Gold production growing to ~500,000oz pa by 2022 Balance sheet capacity and strong cash flows to fund growth Net Cash A$23m
Slide 4: Simple Corporate Strategy for Value Creation
SIMPLE CORPROATE STRATEGY FOR VALUE CREATION For personal use only INVEST IN ASSETS INVEST IN PEOPLE Acquire and replenish Lead, motivate and through organic or continuously up-skill our inorganic means, a Consistently produce operating & management geopolitically diverse ~500koz of gold per year te
Slide 5: Calendar Year 2018 Highlights
CALENDAR YEAR 2018 HIGHLIGHTS For personal use only ✓ Gold Production up 39% to 288,463 ounces. AISC 10% lower at US$994 per ounce. Both production & costs in line with guidance Cash and bullion up 103% to A$92 million. Net Cash increased ✓ 221% from -A$19 million to +A$23 million Turn around of Edi
Slide 6: Improved Operating Performance
IMPROVED OPERATING PERFORMANCE For personal use only Production (oz) AISC (USD/oz) 100,000 $2,000 80,000 $1,600 60,000 $1,200 40,000 $800 20,000 $400 - $- Dec 16 Mar 17 Jun 17 Sep 17 Dec 17 Mar 18 June 18 Sep 18 Dec 18 Qtr Qtr Qtr Qtr Qtr Qtr Qtr Qtr Qtr Edikan Sissingué AISC USD/oz (RHS) PERSEUS MI
Slide 7: Improving Financial Position
IMPROVING FINANCIAL POSITION For personal use only USD million $80 $60 $40 $20 $0 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Cash and Bullion (US$) Debt (US$) PERSEUS MINING LIMITED| WWW.PERSEUSMINING.COM 7
Slide 8: Guidance to Near Term Performance
GUIDANCE TO NEAR TERM PERFORMANCE For personal use only GUIDANCE FY 2019 PARAMETER UNITS Dec 18 Half Jun 19 Half Full Year Gold Production ounces 130-150,000 130-150,000 271-291,000 All-In Site Costs $US/ounce 950 – 1,150 850 – 1,000 925 – 1,000 December 2018 Half actual production was 140,555 ounce
Slide 9: Attractive Long-Term Growth
ATTRACTIVE LONG-TERM GROWTH1 For personal use only Production (koz/pa) AISC (US$/oz) GROWTH DERIVED FROM 600 1,200 EXISTING ASSET BASE 500 400 800 NEW RESERVES IMPROVE GROWTH PROFILE 300 200 400 SUCCESSFUL EXECUTION 100 KEY TO DELIVERY 0 0 2018 2019 2020 2021 2022 Edikan Sissingué Yaouré AISC USD/oz
Slide 10: Producing Gold Mines
PRODUCING GOLD MINES For personal use only OUR LOCATIONS PRODUCING ASSETS Côte d’Ivoire - Sissingué (86%)1 West Africa M&I Mineral Resource: 0.5Moz Ore Reserve: 0.4Moz SISSINGUÉ GOLD MINE (5+ YEARS) Africa Ghana - Edikan (90%) 2 M&I Mineral Resource: 3.0Moz Ore Reserve: 1.6Moz EDIKAN GOLD MINE (6+ Y
Slide 11: Edikan Gold Mine
EDIKAN GOLD MINE PERSEUS’S FIRST OPERATING MINE For personal use only Large scale, multi open-pit mining operation ✓ ✓ Produced more than 1.35Moz gold to date 3.0 Moz M&I Mineral Resources incl. ✓ 1.6 Moz of P&P Ore Reserves1 Updated LOMP delivering lower AISC and ✓ improved cash flow ✓ Mine life of
Slide 12: Sissingué Gold Mine
SISSINGUÉ GOLD MINE PERSEUS’S NEWEST MINE For personal use only ✓ High-grade, operation low-cost, multi open-pit mining 0.5Moz M&I Minerals Resources incl. 0.4Moz of P&P ✓ Ore Reserves1 Successful development and ramp up in production ✓ in Q1 2018 ✓ Low AISC and strong positive cashflow ✓ Significan
Slide 13: Development Assets
DEVELOPMENT ASSETS OUR LOCATIONS For personal use only PROJECTS West Africa YAOURÉ GOLD OPEN PIT DEVELOPMENT PROJECT (8.5+ YEARS) Africa YAOURÉ GOLD Côte d’Ivoire - Yaouré (90%)1, 2 UNDERGROUND DEVELOPMENT PROJECT M&I Open Pit Mineral Resource: 1.9Moz (? YEARS) Ore Reserve: 1.5Moz Inferred Undergrou
Slide 14: Yaouré Gold Project
YAOURÉ GOLD PROJECT NEXT GOLD MINE For personal use only Economically attractive - IRR of 27% and 32 month payback period at US$1,250/oz gold Technically robust - 3.3Mtpa plant with average annual gold production of 215,000 ounces at an AISC of US$734/oz for first 5 years Excellent location - Close
Slide 15: Yaouré Gold Project
YAOURÉ GOLD PROJECT NEXT GOLD MINE For personal use only ✓ High quality development project located close to excellent existing infrastructure. ✓ Positive DFS completed in October 2017 ✓ FEED Study completed October 2018 ✓ Permitting & Funding Plan including US$200 m corporate debt facility due in Q
Slide 16: Near Mine and Greenfields Exploration
NEAR MINE AND GREENFIELDS EXPLORATION EXPLORATION PROJECTS For personal use only EDIKAN – NEAR MINE West Africa Africa SISSINGUE & YAOURE – NEAR MINE CÔTE D’IVOIRE - REGIONAL Granted Permits Applications Mines 100km Gold Deposits PERSEUS MINING LIMITED| WWW.PERSEUSMINING.COM 16
Slide 17: Edikan Exploration Details
EDIKAN EXPLORATION DETAILS Resistivity For personal use only Esuajah NE Fobinso Esuajah Nth Esuajah Sth Esuajah Gap AG Fetish Fetish & Bokitsi Ext. Bokitisi Mampon Chirawewa Saa NE Huntado Esuajah Gap – Cross section EGDD001 – EGDD007 Abreshia & Dadieso NE Dadieso Edikan – near mine exploration targ
Slide 18: Sissingué Exploration Details
SISSINGUÉ EXPLORATION DETAILS For personal use only West East South Sissingué – near mine exploration targets Sissingué – Fimbiasso South AC drilling PERSEUS MINING LIMITED| WWW.PERSEUSMINING.COM 18
Slide 19: Yaouré Exploration Details
YAOURÉ EXPLORATION DETAILS For personal use only S9 Angovia 2 CMA South Yaouré – pit extension targets Yaouré – near pit drill targets PERSEUS MINING LIMITED| WWW.PERSEUSMINING.COM 19
Slide 20: Yaouré Exploration Details
YAOURÉ EXPLORATION DETAILS For personal use only CMA NE GOVISOU Akasou AKAKRO Degbreze SAYIKRO KKG AKASOU Allekran Yaouré – high prospectively corridors Yaouré –regional targets PERSEUS MINING LIMITED| WWW.PERSEUSMINING.COM 20
Slide 21: Contact Us
For personal use only CONTACT US ASX/TSX: PRU www.perseusmining.com Jeff Quartermaine Andrew Grove Managing Director & CEO GM Business Development & +61 8 6144 1700 Investor Relations +61 414 011 383 PERSEUS MINING LIMITED| WWW.PERSEUSMINING.COM
Slide 22: Appendices
APPENDICES For personal use only Panoramic view of the Yaouré site, Perseus’s third mine development. PERSEUS MINING LIMITED| WWW.PERSEUSMINING.COM
Slide 23: Capital Structure
CAPITAL STRUCTURE For personal use only As at 25 January 2019 Shareholder base as at 21 December 2018 1 Franklin Templeton Investments (USA) 7.7% ASX Share price per share1 A$0.40 US$0.28 5.9% 2 Ruffer LLP 3 Australian Super Pty Ltd. 5.8% Shares outstanding 1,037 m 4 Van Eck Associates Corp. 5.7% 5
Slide 24: Experienced Board of Directors & Management Team
EXPERIENCED BOARD OF DIRECTORS & MANAGEMENT TEAM For personal use only Sean Harvey Jeff Quartermaine Colin Carson Non-Executive Chairman Managing Director and CEO Executive Director John McGloin Sally-Anne Layman Non-Executive Director Non-Executive Director PERSEUS MINING LIMITED| WWW.PERSEUSMINING
Slide 25: Calendar Year 2018 Production Statistics
CALENDAR YEAR 2018 PRODUCTION STATISTICS For personal use only Calendar Year 2018 Production Statistics Parameter Unit Edikan Sissingué Group 2 Gold Production & Sales Total material mined tonnes 34,868,075 5,634,555 40,502,630 Total ore mined tonnes 10,130,554 1,588,704 11,719,258 Average ore grade
Slide 26: Perseus Group Mineral Resources and Ore Reserves
PERSEUS GROUP MINERAL RESOURCES AND ORE RESERVES For personal use only PERSEUS GROUP MINERAL RESOURCES Measured Indicated Measured + Indicated Inferred Project Quantity Grade Gold Quantity Grade Gold Quantity Grade Gold Quantity Grade Gold Mt g/t gold koz Mt g/t gold koz Mt g/t gold koz Mt g/t gold
Slide 27: Edikan Mineral Resource Estimate
EDIKAN MINERAL RESOURCE ESTIMATE1 For personal use only EDIKAN MINERAL RESOURCES as at 30 June 2018 Measured Indicated Measured + Indicated Inferred Deposit Deposit Quantity Grade Gold Quantity Grade Gold Quantity Grade Gold Quantity Grade Gold Type Mt g/t gold koz Mt g/t gold koz Mt g/t gold koz Mt
Slide 28: Edikan Ore Reserve Estimate
EDIKAN ORE RESERVE ESTIMATE1 For personal use only EDIKAN MINERAL RESOURCES as at 30 June 2018 Measured Indicated Measured + Indicated Inferred Deposit Deposit Quantity Grade Gold Quantity Grade Gold Quantity Grade Gold Quantity Grade Gold Type Mt g/t gold koz Mt g/t gold koz Mt g/t gold koz Mt g/t
Slide 29: Sissingué Mineral Resource Estimate
SISSINGUÉ MINERAL RESOURCE ESTIMATE1 For personal use only SISSINGUÉ MINERAL RESOURCES as at 31 August 2018 Measured Indicated Measured + Indicated Inferred Deposit Deposit Quantity Grade Gold Quantity Grade Gold Quantity Grade Gold Quantity Grade Gold Type Mt g/t gold koz Mt g/t gold koz Mt g/t gol
Slide 30: Sissingué Ore Reserve Estimate
SISSINGUÉ ORE RESERVE ESTIMATE1 For personal use only SISSINGUÉ ORE RESERVES as at 31 August 2018 Proved Probable Proved + Probable Deposit Deposit Quantity Grade Gold Quantity Grade Gold Quantity Grade Gold Type Mt g/t gold koz Mt g/t gold koz Mt g/t gold koz 3,5 Sissingué Open pit 4.3 2.10 289 0.1
Slide 31: Yaouré Mineral Resource Estimate
YAOURÉ MEASURED + INDICATED MINERAL RESOURCE ESTIMATE For personal use only YAOURÉ MINERAL RESOURCES Measured Indicated Measured + Indicated Inferred Deposit Deposit Quantity Grade Gold Quantity Grade Gold Quantity Grade Gold Quantity Grade Gold Type Mt g/t gold koz Mt g/t gold koz Mt g/t gold koz M
Slide 32: Yaouré Ore Reserve Estimate
YAOURÉ ORE RESERVE ESTIMATE For personal use only YAOURÉ ORE RESERVES as at 30 June 2018 Proved Probable Proved + Probable Deposit Deposit Quantity Grade Gold Quantity Grade Gold Quantity Grade Gold Type Mt g/t gold koz Mt g/t gold koz Mt g/t gold koz 1,2 CMA Open Pit 20.7 1.97 1,310 20.7 1.97 1,310