Perseus Mining Limited · ASX:PRU
Perseus Mining — Shareholder Meeting (November 2010)
21 slides from Perseus Mining's shareholder meeting presentation, Nov 26, 2010
Slide 1: Emerging Gold Producer - Annual General Meeting 2010
For personal use only ASX/TSX: PRU www.perseusmining.com Emerging Gold Producer Annual General Meeting 2010 Mark Calderwood Managing Director
Slide 2: Competent Person's Statement and Forward-Looking Statement
For personal use only Competent Person’s Statement Information in this presentation that relates to exploration results, mineral resources or ore reserves is based on information compiled by Mr Mark Calderwood, who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Calderwood is
Slide 3: Introduction
For personal use only Introduction “West African emerging gold producer” 4.3Moz in M&I Resources* (107.7Mt at 1.2g/t) Including 2.8Moz in Reserves* (65.2Mt at 1.3g/t) ....................................................................... Additional 3.0Moz in Inferred Resources (92.7Mt at 1.0g/t) *
Slide 4: Elephant Country
For personal use only “Elephant Country” TENGRELA 1. Obusai 60Moz+ 2. Tarkwa 40Moz+ 3. Ahafo 17Moz+ 4. Prestia-Bogusu 13Moz+ 5. Loulo 12Moz+ ASHANTI BELT 6. Sadiola-Yatela 8Moz+ (CAGP, Grumesa) 7. Lero 8Moz+ 8. Akyem 8Moz+ 9. Syama 7Moz+ 10. Morila 7Moz+ 11. Siguiri 7Moz+ 12. Bibiani 7Moz+
Slide 5: Perseus Issued Capital and Financial Capital Structure
Perseus Issued Capital and Financial Capital Structure For personal use only Ordinary Shares (ASX:, TSX: PRU) 422M Unlisted Options (avg. $1.54) 10M Budget to July 2011 US$ Cash 30/9/2010 125M Undrawn Debt 85M Less expenditure CAGP Completion 84M Exploration/Eval. 26M Corporate 7M Balance 97M
Slide 6: Perseus Ghana: Ashanti Belt Projects
Perseus Ghana: Ashanti Belt Projects CAGP For personal use only Measured & Indicated Resources 3.2Moz incl; CAGP Grumesa Proven & Probable 2.1Moz Reserves Inferred Resource 2.1Moz Next update Q4 2010 Grumesa Measured & Indicated 0.2Moz Resources Next update Q4 2010
Slide 7: CAGP (Ayanfuri)
CAGP (Ayanfuri) Targets For personal use only Reserves 2009 2Moz 2010 3Moz 2011 4Moz Mill Site Production Phase 1: 2011 +200,000ozpa Phase 2: 2013 +300,000ozpa Exploration 1 discovery p.a.
Slide 8: Key Parameters of CAGP Feasibility
Key Parameters of CAGP Feasibility Gold Production (Phase 1 only) Definitive Feasibility Study 2009 For personal use only Year 1 230,000 oz Reserves P&P 2.14 Moz Earnings Capability (EBITDA) First 3 years Total 10 years @ US$850/oz US $334M US $758M @ US$1,200/oz US $500M US $1,295M Capital and Oper
Slide 9: CAGP Construction
For personal use only CAGP Construction June 23 Sep 21 July 26 Oct 25 Aug 20 Mar Qtr 2011 - Mining Sep Qtr 2011 - Milling
Slide 10: Perseus Ivory Coast
For personal use only Perseus Ivory Coast Sissingue 0.9Moz M&I (15.2Mt) Inferred 0.3Moz Reserve 0.66Moz (9.7mt)
Slide 11: Growth - Ivory Coast
Growth - Ivory Coast Targets For personal use only Sissingue Reserves 2011 1.0Moz 2012 1.5Moz Production Phase 1: Q4 2012 178,000oz year 1 162,000oz year 2 Exploration Discoveries 2010: Kanakono Podio Sissingue East
Slide 12: Tengrela Feasibility Highlights
Tengrela Feasibility Highlights Nov 2010 For personal use only 657,000oz Initial Probable Ore Reserve In the first 2 years: Production: 340,000oz 6 year mine life Cash costs: US$421/oz Average life of mine: US$505/oz EBITDA: US$221M at US$1,100 Au
Slide 13: Perseus the Future - Robust Production
Perseus the Future - Robust Production 500 For personal use only EBITDA Targets (US$) $1200 gold price Tengrela 400 cash cost $540 /oz (at project level, after royalties) 300 X 1000 oz 2011 - $ 50M 200 2012 - $180M 2013 - $300M CAGP 100 2014 - $300M 0 2010 2011 2012 2013 2014
Slide 14: News Flow
For personal use only News Flow Drilling CAGP Reserve update 25,000m/month (Dec Qtr 2010) TGP Reserve update CAGP Reserve update (H1 2011) (Jun Qtr 2011)
Slide 15: Perseus The Explorer
For personal use only Perseus The Explorer Million Ounces of Gold Ivory Coast Inferred Ghana Inferred Ivory Coast Measured Indicated Ghana Measured Indicated Ghana Reserves Highly Active New Discoveries Reserve Growth
Slide 16: Broker Coverage
For personal use only Broker Coverage Date Institution Author (2010) 15/11 Dundee Sec. Ron Stewart 11/11 UBS Jo Battershill 10/11 Cormark Mike Kozak 10/11 RBS Sam Berridge 20/08 BGF Warwick Grigor 20/07 CIBC Cosmos Chiu 21/06 Clarus Securities Nana Sangmuah 19/06 Rodman & Renshaw Alka Singh
Slide 17: Other Assets
For personal use only Other Assets 20% 28% (1.08Moz Gold) (1.13Moz Gold)
Slide 18: Appendix 1: Board of Directors
Appendix 1: Board of Directors Reg Gillard For personal use only 22yrs director / chairman, public companies Non Executive Chairman Executive Directors Non Executive Directors Mark Calderwood Neil Fearis 24yrs exploration and 30yrs as commercial lawyer corporate management Colin Carson Sean Harvey 2
Slide 19: Appendix 2: CAGP (Ayanfuri) History
For personal use only Appendix 2: CAGP (Ayanfuri) History History • Mined in 1990s by Cluff-Ashanti • 23 shallow pits produced 300,000oz 1994-2001 • May 06 Perseus gained control of 180,000oz resource Location • 30kms from Anglogold’s +60Moz Obuasi Mine • 45kms from Prestea-Bogusu project Exploratio
Slide 20: Reserves
For personal use only Reserves Mineral Reserves (Gold) Deposit Proven Probable Total Tonnes g/t Ounces Tonnes g/t Ounces Tonnes g/t Ounces (million) Au Au (,000) (million) Au Au (,000) (million) Au Au (,000) CAGP- (Ayanfuri) 18.4 1.4 828 37.2 1.1 1,313 55.5 1.2 2,141 >0.5g/t (1) TGP >0.55g/t (2) 9.7
Slide 21: Resources
Resources Mineral Resources (Gold) For personal use only Deposit Measured & Indicated Inferred (cutoff g/t Au) Tonnes g/t Ounces Tonnes g/t Ounces (million) Au Au (,000) (million) Au Au (,000) CAGP-(Ayanfuri) 15.8 1.5 764 30.2 1.5 1,423 >0.8g/t (1) CAGP-(Ayanfuri) 14.1 0.6 267 31.9 0.7 691 0.4g/t -