Slide 1: Review of June Quarter 2013
For personal use only ASX/TSX: PRU www.perseusmining.com Review of June Quarter 2013 Jeff Quartermaine – CEO 16 July 2013
Slide 2: Cautionary Statements - Forward-Looking Statements
Cautionary Statements Forward-Looking Statements For personal use only 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: Cautionary Statements - Competent Person's Statement
Cautionary Statements For personal use only Competent Person’s Statement The information in this presentation that relates to exploration results, mineral resources or ore reserves is based on information compiled by Mr. Kevin Thomson, who is a Professional Geoscientist with the Association of Profe
Slide 4: Summary - Operations
Summary - Edikan Gold Mine Operations Gold production of 104,744oz in Half Year, incl. 47,565oz in June Quarter. In- line with guidance of 105,000 to 125,000ozs For personal use only Total all-in site cash costs of US$1,256/oz1 in the Half Year exceeded cost guidance of US$1,100/oz All-in cost
Slide 5: Summary - Sissingué Gold Project, Cote D'Ivoire
Summary - Sissingué Gold Project, Cote D'Ivoire For personal use only Discussions with Ivorian government on applicable fiscal terms and stability undertakings are advancing very positively Perseus has decided not to commit to the development of Sissingué Financing plan to be confirmed Devel
Slide 6: Summary - Exploration and Corporate
Summary - Exploration and Corporate Exploration For personal use only Significant intercepts at multiple prospects in Côte d’Ivoire Very significant RC hole from Mbengué Prospect of 28m at 8.1g/t gold plus 27m at 3.7g/t gold, finishing in mineralisation; Upgrade of Mineral Resource estimate at
Slide 7: Operations
Operations - Edikan Gold Mine Parameter Unit March June June Full Quarter Quarter Half Year Year For personal use only 2013 2013 2013 2013 Total material mined bcm1 3,688,301 3,097,974 6,786,275 14,962,185 tonnes 7,509,354 7,794,700 15,304,054 32,709,705 Strip ratio t:t 3.63 3.53 3.57 3.67 Ore mined
Slide 8: Operations
Operations - Edikan Gold Mine For personal use only Parameter Unit March June June Full Quarter Quarter Half Year Year 2013 2013 2013 2013 % 81.2 80.7 81.0 83.3 Gold recovery Gold produced ounces (oz) 57,179 47,565 104,744 208,444 Gold sales3 oz 53,618 52,626 106,244 205,109 Average sales price US$/
Slide 9: Operations
Operations - Edikan Gold Mine For personal use only Parameter Unit March June June Full Quarter Quarter Half Year Year 2013 2013 2013 2013 PRODUCTION COST: Cash Cost US$/oz 863 1,181 1,007 812 Royalties US$/oz 88 93 90 95 Sub-total US$/oz 951 1,274 1,097 907 CAPITAL COSTS: Inventory and US$/oz 60 (1
Slide 10: Mining
Mining - Edikan Gold Mine Total of 3,097,974bcm of ore and waste mined during Quarter, 16% less For personal use only than March 2013 Quarter Mining included 227,787t oxide ore at 0.8g/t gold and 1,494,354t transition and primary ore at 1.2g/t gold Poor equipment availability by contract miner
Slide 11: Processing
Processing - Edikan Gold Mine Total SAG mill throughput 3,005,122dmt of ore for Half Year. For personal use only Description Unit March April May June June 2013 June Financial 2013 2013 2013 2013 Quarter 2013 Year 2013 Quarter Half Year Primary Crusher Tonnes Crushed1 Wmt1 1,309,572 402,838 346,33
Slide 12: Site Operating Costs
Site Operating Costs- Edikan Gold Mine For personal use only • Total all-in site cash costs US$1,256 in Half Year exceeded cost guidance of US$1,100/oz. • All-in site costs for Quarter of US$1,405/oz. Quarterly cost increase result of two major influences: 1. Gold production for Quarter of 47,565ozs
Slide 13: Site Operating Costs
Site Operating Costs- Edikan Gold Mine For personal use only • Adjusted all-in site cash cost for the Half Year was US$1,194/oz, less than 10% higher than cost guidance of US$1,100/oz. • Total site cash costs for Half Year based on the below unit production costs: Department Units Jun Qtr Mar Qtr Ha
Slide 14: Site Operating Costs
Site Operating Costs- Edikan Gold Mine • During the Half Year and Quarter, costs totalling of US$125/oz and US$58/oz For personal use only respectively were capitalised. These included the following items: Item Units Jun Qtr Mar Qtr Half Year Investment in Pre-stripping US$M 27 80 56 Investment/(red
Slide 15: Production and Cost Guidance to December 2015
Production and Cost Guidance to December 2015 For personal use only • Perseus has revised short-term production plans for EGM • Objective to produce gold that optimises balance between production and cash margin • Intention of optimising the net cash flow generated by the mine • Production and cost
Slide 16: EGM Life of Mine Plan
EGM Life of Mine Plan • Preparations advanced for an updated Life of Mine plan For personal use only • Completed during September 2013 Quarter and reported in September 2013 Quarterly Activities Report • Revised Mineral Resource estimate completed for EGM, includes recent drilling results. • Revised
Slide 17: Project Development - Sissingué
Project Development - Sissingué • Perseus has decided not to commit to development of Sissingué until confidence restored in Company’s ability to finance project For personal use only • Decision will be reviewed at the earlier of 1 January 2014 • Perseus will perform range of value-adding tasks asso
Slide 18: Exploration – Ghana and Côte d'Ivoire
Exploration – Ghana and Côte d’Ivoire During the Quarter, a total of US$4.3M was spent on exploration in Ghana For personal use only EGM and Adjoining Licences • Company completed 7,378m of drilling at EGM during the Quarter (6,796m in March Quarter). • Drilling consisted of 5,472m of deeper resourc
Slide 19: Updated Mineral Resource Estimate for the EGM
Updated Mineral Resource Estimate for the EGM • In summary, the revised global Mineral Resource estimate is as follows: For personal use only Measure and Indicated Mineral Resources Weathering Measured Indicated Measured + Indicated Domain ‘000 Grade Contained ‘000 Grade Contained ‘000 Grade Contain
Slide 20: Updated Mineral Resource Estimate for the EGM
Updated Mineral Resource Estimate for the EGM For personal use only Relative to the previously published (December 2011) undepleted Mineral Resource estimate for EGM • updated Mineral Resource contains an additional 861,000 ounces of gold in the Measured and Indicated categories and 674,000 ounces i
Slide 21: Corporate – Cash, Bullion, Available Credit, Cash Reduction Program
Corporate – Cash, Bullion, Available Credit, Cash Reduction Program • Available cash balance at 30 June 2013 was $35.5M (31 March 2013: $38.4M) For personal use only • Bullion on hand included 4,452oz at EGM and 5,407 ounces at refinery or in metal account. • Based on gold price of US$1,192/oz and a
Slide 22: Corporate - Gold Sales and Price Hedging
Corporate - Gold Sales and Price Hedging For personal use only • 52,626oz gold sold during Quarter at a weighted average price of US$1,308/oz, including 23,000oz under forward sales contracts at an average price of US$1,246/oz • Remaining gold sales at prevailing spot prices • Hedge position include
Slide 23: Program for September 2013 Quarter - Edikan
Program for September 2013 Quarter - Edikan For personal use only Produce between 50-55,000oz at total site cost of US$1,000/oz to US$1,200/oz in line with Half Year guidance Fine tune plant metallurgical performance and maximise SAG mill throughput Continue training of operating and maintenan
Slide 24: Program for September 2013 Quarter - Sissingué
Program for September 2013 Quarter - Sissingué For personal use only • Finalise negotiation of terms of a Mining Convention • Update mine plan based on new Mineral Resource estimate • Commence review of project cost structure • Review project economics and financing alternatives • Continue explorati
Slide 25: For personal use only
For personal use only ASX/TSX: PRU www.perseusmining.com Jeff Quartermaine Nathan Ryan CEO Investor Relations +61 8 6144 1700 +61 420 582 887 Rebecca Greco Investor Relations +1 416 822 6483 25