Slide 1: Corporate Update
For personal use only Corporate Update Jeff Quartermaine Managing Director & CEO 10 July 2016 ASX/TSX: PRU Not for release or distribution in the United States 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: Cautionary Statements
Cautionary Statements For personal use only All information in this presentation concerning the Yaouré Gold Project (YGP) are reported as Foreign Estimates as defined in the ASX Listing Rules in accordance with ASX Listing Rules 5.12.1 to 5.12.10 and as Historical Estimates as defined Canadian Natio
Slide 4: Cautionary Statements
Cautionary Statements For personal use only Cautionary statement The Estimates are historical/foreign estimates and are not reported in accordance with the JORC Code. A qualified person has not completed sufficient work to classify the Estimates as current mineral resources or ore reserves in accord
Slide 5: Investment Highlights
Investment Highlights For personal use only Successful diversified West African gold producer, developer and explorer: • Producing Edikan Gold Mine, LOMP envisages average production of 222,000 ounces per annum at US$865 per ounce AISC1 over 7.5 years providing substantial leverage to the gold price
Slide 6: Current Market Metrics
Current Market Metrics For personal use only Post- Retail Entitlement Key Information As at 7 July 2016 Offer3 Share price (A$) 0.67 n/a Shares outstanding (m) 1,005 1,0204 Warrants outstanding (m)1 142 142 Market capitalisation (A$m) 673 6815 Cash (A$m)2 146 1536 Debt (A$m)2 - - Enterprise value (A
Slide 7: Material Increase in Share Price Following Amara Transaction and Equity Raising
Material Increase in Share Price Following Amara Transaction and Equity Raising For personal use only Perseus one year share price performance (ASX) Announcement of business combination with Amara Mining plc Closing of the Placement and Institutional component of the Entitlement Offer • Share price
Slide 8: Our Strategy for Creating Value for Shareholders
Our Strategy for Creating Value for Shareholders For personal use only Drive increased Mitigate geopolitical productivity at Edikan Generate optimal risks through multi through further shareholder value country projects and optimisation and through staged excellent long term in- focussed capital cou
Slide 9: A Diversified West African Development and Operational Portfolio
A Diversified West African Development and Operational Portfolio² For personal use only Our Locations Assets Overview Sissingué (86%)1 • Large scale gold mine in production since early 2012 M&I Mineral Resource: 0.9Moz • LOM avg. production 222,000 ounces over a Ore Reserve: 0.4Moz 7.5 year life, an
Slide 10: Edikan Gold Mine: The flagship of the company
Edikan Gold Mine:The flagship of the company For personal use only Overview • Open pit gold mine in southern Ghana in operation for over 4 years • Average gold production of 222,000 ounces pa estimated over the remaining 7.5 year life • Average AISC over LOMP estimated at US$865 per ounce, significa
Slide 11: Edikan June Quarter 2016 – Update
Edikan June Quarter 2016 – Update For personal use only June 2016 Half Year guidance In April 2016, June 2016 Half Year guidance revised to 75,000-90,000 ounces and full year to 152,000-167,000 due to: × Lower than anticipated reconciliation between Resource model and mill grades × Limited fresh ore
Slide 12: Edikan – the way forward
Edikan – the way forward For personal use only Current LOMP envisages a material increase in gold production in FY2017 compared to FY2016 with the increase in production weighted towards the second half of FY2017 as grades improve Parameter Units Guidance FY2017 2017 per LOMP Dec 16 Half Jun 17 Half
Slide 13: Progressive improvement expected over the course of FY2017
Progressive improvement expected over the course of FY2017 For personal use only Based on current LOMP significant improvements to production and AISC are expected post plant upgrade in October 2016 Gold Production (ounces) All in site cost (US$/oz) 30,000 2,000 Plant upgrade shutdown Production cos
Slide 14: Edikan: Short term spend for long term gain
Edikan: Short term spend for long term gain1 For personal use only Intensive re-investment through to December 2016 including • Facilities required to access to all mining areas/mining infrastructure • Processing infrastructure (including plant improvements and power station) • Waste Stripping • Tai
Slide 15: Edikan: Expected Strong Cash Generation from FY2018 Onwards
Edikan: Expected Strong Cash Generation from FY2018 Onwards For personal use only Updated Life of Mine Plan – released 19 April 2016 • 7.5 years of production from 1 July 2016 • Average annual production of 258,000 ounces for 5 years from FY2017, with average annual gold production over life of mine
Slide 16: Sissingué Gold Project: Near Term Growth
Sissingué Gold Project: Near Term Growth For personal use only Overview • Development project in northern Côte d’Ivoire • Ore Reserves of 0.43Moz of gold (5.5Mt at 2.4g/t) based on pit shells calculated at US$1,200/oz gold • Forecast average annual production of 75,000 ounces at a LOM All-In Site Co
Slide 17: Yaouré Gold Project: Medium Term Growth
Yaouré Gold Project: Medium Term Growth For personal use only Overview • DFS stage development project in central Côte d’Ivoire • Measured and Indicated Mineral Resources of 5.2Moz (104.1Mt at 1.54g/t)* (see cautionary statement below) • Potential for large scale, long life, low cost production • Id
Slide 18: Yaouré: Substantial Mineral Resource Ideally Located for Large Scale Production
Yaouré: Substantial Mineral Resource Ideally Located for Large Scale Production For personal use only Brownfield site Grid power within 5km Dual carriageway within 40km Water supply within 5km Skilled workforce 18
Slide 19: Strong Pipeline from Exploration to Production
Strong Pipeline from Exploration to Production For personal use only Production Edikan Construction Sissingué Feasibility Study Esuajah S. Yaouré Pre-Feasibility / Concept Study Mampong Dadieso Grumesa Baomahun Advanced Bélé Exploration Bokitsi Mbengué Mahalé Zouan-Hounien Nkotumso Initial Explorati
Slide 20: Corporate Outlook
Corporate Outlook For personal use only • Corporate growth strategy designed to transform Perseus from a single mine-single country business to a credible mid-tier, multi-operation enterprise spanning several geopolitical settings • Implementation of our corporate growth strategy requires: Physica
Slide 21: Key Milestones for Remainder of CY2016
Key Milestones for Remainder of CY2016 For personal use only Edikan capital enhancement project Current stage of the relocation housing and plant upgrade scheduled for completion in December 2016 quarter Completion of Equity Raising and announcement of credit approval of Sissingué financing package
Slide 22: Perseus: Transforming into a Mid-Tier Gold Producer
Perseus:Transforming into a Mid-Tier Gold Producer For personal use only Successful West African-focused gold Producing mine and strong Large Ore Reserve and Mineral producer development pipeline Resource inventory Experienced Board with clear strategy Robust balance sheet – strong cash for growth p
Slide 23: Contact Us
Contact Us For personal use only ASX/TSX: PRU www.perseusmining.com Jeff Quartermaine Managing Director & CEO +61 8 6144 1700 Cathy Moises Investor Relations (Australia) +61 412 196 350 cathy.moises@perseusmining.com Nathan Ryan Media Relations (Australia) +61 420 582 887 23
Slide 24: Appendices
For personal use only APPENDICES 24
Slide 25: Experienced Board with Complementary Skillset
Experienced Board with Complementary Skillset For personal use only Reginald Gillard Jeff Quartermaine Colin Carson Non-Executive Chairman Managing Director and CEO Executive Director More than 30 years’ experience in accounting More than 25 years’ experience in financial and Director of numerous Au
Slide 26: Edikan Mineral Resources and Reserves
Edikan Mineral Resources and Reserves* For personal use only 5.1Moz of gold in Measured & Indicated Mineral Resources (144.8Mt at 1.1g/t) INCLUDING PLUS 2.3Moz of gold 2.0Moz of gold in Proven in Inferred & Probable Reserves Mineral Resources (58.4Mt at 1.2g/t) (61.4Mt at 1.0g/t) * As at 1 March 201
Slide 27: Edikan Mineral Resources and Reserves
Edikan Mineral Resources and Reserves* For personal use only INCLUDING 27 * As at 1 March 2016
Slide 28: Sissingué Mineral Resources and Reserves
Sissingué Mineral Resources and Reserves* For personal use only 880koz of gold in Measured & Indicated Mineral Resources (16.0Mt at 1.7g/t) INCLUDING PLUS 429koz of gold 63koz of gold in Proven in Inferred & Probable Reserves Mineral Resources (5.5Mt at 2.4g/t) (1.1Mt at 1.7g/t) *As at 30 June 2015
Slide 29: Sissingué Mineral Resources and Reserves
Sissingué Mineral Resources and Reserves* For personal use only INCLUDING * As at 30 June 2015 29
Slide 30: Yaouré Mineral Resources and Reserves
Yaouré Mineral Resources and Reserves1,2 For personal use only 5.2Moz of gold in Measured & Indicated Mineral Resources (104.1Mt at 1.5g/t) (see cautionary statement below) INCLUDING PLUS 3.2Moz of gold 2.2Moz of gold in Proven in Inferred & Probable Reserves Mineral Resources (62.3Mt at 1.6g/t) (47
Slide 31: Yaouré Mineral Resources and Reserves
Yaouré Mineral Resources and Reserves1,2 For personal use only INCLUDING PLS 1. Cautionary statement: These estimates are historical/foreign estimates and are not reported in accordance with the JORC Code. A qualified person has not completed sufficient work to classify these estimates as current mi
Slide 32: Debt Funding Update
Debt Funding Update For personal use only • Perseus has mandated Macquarie Bank and BNP Paribas to provide a term debt facility of US$60 million on a 50/50 basis – Continues Perseus’ banking relationship with Macquarie Bank who financed Edikan – Bank technical due diligence underway, site visits hav