Slide 1: March 2025 Quarter Report Webinar
Perseds MINING MARCH 2025 QUARTER REPORT WEBINAR 30 APRIL 2025 ASX/TSX: PRU
Slide 2: Cautionary Statements
CAUTIONARY STATEMENTS COMPETENT PERSON STATEMENT: All production targets referred to in this report are underpinned by estimated Ore Reserves which have been prepared by competent CAUTION REGARDING FORWARD LOOKING INFORMATION: persons in accordance with the requirements of the JORC Code. This report
Slide 3: Overview of Operating & Financial Results
OVERVIEW OF OPERATING & FINANCIAL RESULTS PERSEUS MINING LIMITED PERSEUSMINING.COM 3
Slide 4: Operating Performance in March 2025 Quarter
OPERATING PERFORMANCE IN MARCH 2025 QUARTER GOLD PRODUCED ALL-IN SITE COST AVG GOLD SALE PRICE CASH MARGIN (2) NOTIONAL CASHFLOW(2) NET CASH & BULLION 121,605 oz US$1,209/oz US$2,462/oz US$1,253/oz US$152M US$801M(3)(4) Down 8%(1) Up US$82/oz(1) Up US$32/oz(1) Down 4%(1) Down US$21M(1) Up US$97M (1)
Slide 5: Strong Gold Production at Improving Cash Margins
STRONG GOLD PRODUCTION AT IMPROVING CASH MARGINS • Operationally, all 3 mines performing reasonably well – not without challenges. • Steadily expanding cash margin due to elevated gold prices and steady unit costs, increases Perseus’s cash and bullion balance to US$801M • Q4 to date operating perfor
Slide 6: Guided Production and Cost Outlook
GUIDED PRODUCTION AND COST OUTLOOK DECEMBER 2024 HALF JUNE 2025 HALF 2025 FINANCIAL PARAMETER UNITS YEAR (ACTUAL) YEAR FORECAST YEAR FORECAST Yaouré Gold Mine Production Ounces 123,158 120,000 to 135,000 243,158 to 258,158 All-in Site Cost USD per ounce 1,124 $1,215 to $1,315 $1,160 to $1,210 Edikan
Slide 7: Yaouré
YAOURÉ • Produced 68,822 ounces of gold, ~ 57% of Perseus’s total production, 3% higher than Q2 FY25 based on sound metrics of runtime (95%), head grade (2.16g/t), recovery (93.6%). • Production cost of US$760 per ounce and AISC of US$981 per ounce down on prior quarter by $56/oz (5%). • Benefited f
Slide 8: Edikan
EDIKAN • Disappointing quarter relative to prior quarter with 41,668 ounces of gold produced, ~ 34% of Perseus’s total production, 15% lower than Q2 FY25. • Key KPIs were down compared to prior quarter including Mill run time of 90% (96%), gold recovery of 88.3% (90.5%), head grade of ore was 0.95 g
Slide 9: Sissingué
SISSINGUÉ • Disappointing quarter relative to Q2 FY25 but this was expected given mining sequence. • 11,115 ounces of gold produced, ~ 9% of Perseus’s total production, 34% lower than Q2 FY25. • Key KPIs included mill run time (steady at 94%), throughput rate (steady 188 v 184) gold recovery rates d
Slide 10: Financial Position
FINANCIAL POSITION PERSEUS MINING LIMITED PERSEUSMINING.COM 10
Slide 11: Cashflow and Balance Sheet
• Cash ($695 million) and bullion ($107 CASHFLOW AND BALANCE SHEET million) at 31 March totaling US$801 million • Zero debt, with US$300 million undrawn credit line • US$97 million net increase in cash and bullion • Includes: • Operating margin US$118M • Tax payments US$22M • Capital expenditure US$
Slide 12: Reconciliation of All-In Site Cost to All-In Sustaining Cost
RECONCILIATION OF “ALL-IN SITE COST” TO “ALL-IN SUSTAINING COST” (US$/OUNCE) Note: Included in both the All-In-Site-Cost and All-In-Sustaining-Cost in Q3 FY25 is US$4.8 million of costs relating to excess waste stripping. When reporting cost of sales, in line with accepted practice under IFRS, this
Slide 13: Hedge Position and Strategy
HEDGE POSITION AND STRATEGY ➢ Hedging contracts currently provide downside price protection to ~24% of forecast gold production for next 3 years. ➢ Certainty of cash flow and profitability required while committed to significant capex programmes hence mitigation of price risk through considered hedg
Slide 14: Share Buy-Back as at 9 April 25
SHARE BUY-BACK AS AT 9 APRIL 25 WHEN THE LATEST “BLACKOUT PERIOD” COMMENCED PERSEUS MINING 14
Slide 15: Organic Growth
ORGANIC GROWTH PERSEUS MINING LIMITED PERSEUSMINING.COM 15
Slide 16: CMA Underground Mine Development Project
CMA UNDERGROUND MINE DEVELOPMENT PROJECT • A Final Investment Decision to develop the CMA Underground mine at the site of the Yaouré Gold Mine in Cote d’Ivoire, was taken in Jan 251. • The FID was based on the Ministry of Mines, Petroleum and Energy’s in-principal approval for the project. Commencem
Slide 17: Critical Path
CRITICAL PATH Progress remains on schedule to deliver 1st portal firings on the 1st of July. Minor works will continue post 1st of July, however not critical to development commencing. PERSEUS MINING PERSEUSMINING.COM 17
Slide 18: Portal Review Finalised
PORTAL REVIEW FINALISED MineGeotech Portal Review • North 1115 Intake • North 1095 Exhaust • South 1120 Intake • South 1105 Exhaust PERSEUS MINING PERSEUSMINING.COM 18
Slide 19: Surface Activities
SURFACE ACTIVITIES Left: Accomodation & Office block development. Right: Power supply & water services installation PERSEUS MINING PERSEUSMINING.COM 19
Slide 20: Nyanzaga Gold Project
NYANZAGA GOLD PROJECT • Final Investment Decision (FID) taken after the end of the quarter, to develop the NGP following an update of the NGP Feasibility Study1. • The development and pre-production capital cost of US$523.1M includes: o Plant and site infrastructure CAPEX of US$472M, including US$48
Slide 21: Location and Site Layout
LOCATION AND SITE LAYOUT PERSEUS MINING PERSEUSMINING.COM 21
Slide 22: Nyanzaga Expanded Open Pit Stages
NYANZAGA EXPANDED OPEN PIT STAGES. (9672450N) Nyanzaga will involve a large scale, wholly open-pit FID OSA 40 degrees mining Stage 4 OSA 50 degrees operation, involving multiple stages, during the first phase of operation. PERSEUS MINING PERSEUSMINING.COM 22
Slide 23: 5 Mtpa Nameplate, Lycopodium Designed Processing Facility
5 MTPA NAMEPLATE, LYCOPODIUM DESIGNED PROCESSING FACILITY PERSEUS MINING PERSEUSMINING.COM 23
Slide 24: Key Physical & Financial Metrics
KEY PHYSICAL & FINANCIAL METRICS Production & Cost Metrics: • Total gold production over an 11-year mine life (Phase 1) is estimated to be 2.01 Moz based on a JORC 2012 compliant Probable Ore Reserve of 52.0 Mt @ 1.40 g/t gold for 2.3 Moz. • Gold production averages over 200,000 ounces of gold per a
Slide 25: Production Forecasts
PRODUCTION FORECASTS PERSEUS MINING PERSEUSMINING.COM 25
Slide 26: Looking Forward
LOOKING FORWARD • Confident in our ability to deliver the Project as planned. Perseus has successfully developed and operates modern gold mines on the African continent including Edikan, Sissingué and most recently, the Yaouré gold mine. • Many of the contractors and employees who successfully built
Slide 27: Schedule to First Gold Pour & Commissioning
SCHEDULE TO FIRST GOLD POUR & COMMISSIONING PERSEUS MINING PERSEUSMINING.COM 27
Slide 28: Site Preparations
SITE PREPARATIONS Bulk Earthworks – Main Camp & Brick Yard Bulk Earthworks – Process Plant Topsoil Removal PERSEUS MINING PERSEUSMINING.COM 28
Slide 29: Site Preparations
SITE PREPARATIONS Bulk Earthworks - Camp and SML Fenceline Bulk Earthworks - Camp Terraces 1 & 2 PERSEUS MINING PERSEUSMINING.COM 29
Slide 30: Relocation Housing
RELOCATION HOUSING PERSEUS MINING PERSEUSMINING.COM 30
Slide 31: Community Consultation
COMMUNITY CONSULTATION Ngoma Village (Ward Councilor's) Public Meeting PERSEUS MINING PERSEUSMINING.COM 31
Slide 32: Training of Local Employees
TRAINING OF LOCAL EMPLOYEES Induction training with contractor Nyanza road construction Site HSE & Security induction with COO & GM Ops visitors PERSEUS MINING PERSEUSMINING.COM 32
Slide 33: Resource Definition & Geotech Drilling
RESOURCE DEFINITION & GEOTECH DRILLING HIGHLIGHTS PERSEUS MINING PERSEUSMINING.COM 33
Slide 34: Sustainability Performance
SUSTAINABILITY PERFORMANCE PERSEUS MINING LIMITED PERSEUSMINING.COM 34
Slide 35: Sustainability
SUSTAINABILITY SAFETY • Safety performance across the Group remained stable this quarter, with the Group 12-month rolling average Total Recordable Injury Frequency Rate (TRIFR) at 0.74 for Q3 FY25. There were four recordable injuries in Q3 FY25 across the Group. • Group 12-month rolling average Lost
Slide 36: Authorised for release by Jeff Quartermaine, Managing Director and CEO
This presentation was authorised for release by Jeff Quartermaine, Managing Director and CEO ASX/TSX: PRU | WWW.PERSEUSMINING.COM