Perseus Mining Limited · ASX:PRU
Perseus Mining — BMO Global Metals & Mining Conference 2019
17 slides from Perseus Mining's conference presentation, Feb 28, 2019
Slide 1: West African Gold Producer, Developer and Explorer
WEST AFRICAN GOLD PRODUCER, DEVELOPER and EXPLORER Jeff Quartermaine ASX/TSX: PRU Managing Director & CEO www.perseusmining.com PERSEUS MINING LIMITED| WWW.PERSEUSMINING.COM
Slide 2: Cautionary Statements
CAUTIONARY STATEMENTS PERSEUS MINING LIMITED| WWW.PERSEUSMINING.COM 2
Slide 3: A Compelling Investment Opportunity
A COMPELLING INVESTMENT OPPORTUNITY West African gold producer, developer & explorer Multi-mine, multi jurisdiction operations Gold production growing to ~500,000oz pa by 2022 Balance sheet capacity and strong cash flows to fund growth Experienced board & management team and Strong social licence to
Slide 4: Producing Gold Mines
PRODUCING GOLD MINES 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+ YEARS) Notes: 1 Ore Res
Slide 5: Edikan Gold Mine
EDIKAN GOLD MINE PERSEUS’S FIRST OPERATING MINE 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 6 years with potentia
Slide 6: Sissingué Gold Mine
SISSINGUÉ GOLD MINE PERSEUS’S NEWEST MINE ✓ High-grade, operation low-cost, multi open-pit mining ✓ 0.5Moz M&I Minerals Resources incl. 0.4Moz of P&P Ore Reserves 1 ✓ Successful development and ramp up in production in Q1 2018 ✓ Low AISC and strong positive cashflow ✓ Potential to extend mine life t
Slide 7: Development Assets
DEVELOPMENT ASSETS OUR LOCATIONS 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 Underground Resource: 0.6Moz No
Slide 8: Yaouré Gold Project
YAOURÉ GOLD PROJECT NEXT GOLD MINE High quality development project located ✓ close to excellent existing infrastructure ✓ Positive DFS completed in October 2017 ✓ FEED Study completed October 2018 ✓ Permitting & Funding due in Q1 2019 ✓ On track to start development in Q1 2019 ✓ First gold expected
Slide 9: Near Mine and Greenfields Exploration
NEAR MINE AND GREENFIELDS EXPLORATION EXPLORATION PROJECTS 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 9
Slide 10: Perseus's Value Proposition
WHY PERSEUS ? PERSEUS’S VALUE PROPOSITION PERSEUS MINING LIMITED| WWW.PERSEUSMINING.COM
Slide 11: Calendar Year 2018 Highlights
CALENDAR YEAR 2018 HIGHLIGHTS ✓ 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 Edikan Gold Mine continue
Slide 12: Strong Recent Operating Performance
STRONG RECENT OPERATING PERFORMANCE 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/ozx (RHS) PERSEUS MINING LIMITED| WW
Slide 13: Improving Financial Position
IMPROVING FINANCIAL POSITION At 31 December 2018 USD million $80 Cash on hand US$49 million Cash & Bullion US$65 million $60 Bank debt US$49 million $40 Net Cash & Bullion US$ 16 million Strong future cashflows $20 Borrowing capacity ~US$200 million $0 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Cash and Bul
Slide 14: Attractive Long-Term Growth
ATTRACTIVE LONG-TERM GROWTH1 Production (koz pa) AISC (US$/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 Year Ending 30 June Edikan Sissingue Yaoure AISC USD/OZ
Slide 15: Capital Structure
CAPITAL STRUCTURE As at 18 February 2018 AUD USD Shareholder base as at 23 January 2019 1 Franklin Templeton Investments (USA) 7.7% ASX Share price per share 0.43 0.31 2 Ruffer LLP 5.8% 3 Van Eck Associates Corp. 5.4% Shares outstanding 1,037 m 1,037 m 4 Australia Super Fund 5.2% 5 RDV Corporation 4
Slide 16: Attractive Long Term Growth
ATTRACTIVE LONG TERM GROWTH1 - QUEUED UP AND BEING DELIVERED Production (koz pa) AISC (US$/oz) 600 1,200 CREATING 500 WEALTH 400 800 THROUGH 300 STEADY 200 400 GROWTH 100 0 0 2018* 2019 2020 2021 2022 Year Ending 30 June Edikan Sissingue Yaoure AISC USD/OZ (RHS) Note: 1. Refer to Slide 2 – Caution r
Slide 17: Contact Us
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
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