Perseus Mining Limited · ASX:PRU
Perseus Mining — Q2 FY25 Earnings Presentation
23 slides from Perseus Mining's earnings presentation, Jan 29, 2025
Slide 1: December 2024 Quarter Report Webinar
Perseds MINING DECEMBER 2024 QUARTER REPORT WEBINAR 29 JANUARY 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 persons in Meyas Sand Gold Project accordance with the requirements of the JORC Code. The information in this report tha
Slide 3: Overview of Operating & Financial Results
OVERVIEW OF OPERATING & FINANCIAL RESULTS PERSEUS MINING LIMITED PERSEUSMINING.COM 3
Slide 4: Perseus Continues Market Leading Performance in December 2024 Quarter
PERSEUS CONTINUES MARKET LEADING PERFORMANCE IN DECEMBER 2024 QUARTER GOLD PRODUCED ALL-IN SITE COST AVG GOLD SALE PRICE CASH MARGIN (2) NOTIONAL CASHFLOW(2) NET CASH & BULLION 132,419 oz US$1,127/oz US$2,430/oz US$1,303/oz US$173M US$704M(3) Up 9%(1) Down US$74/oz(1) Up US$181/oz(1) Up 24%(1) Up US
Slide 5: Very Strong Performance for Both Dec HY and CY24
RESULTING IN VERY STRONG PERFORMANCE FOR BOTH DEC 24 HY AND CY24 NOTIONAL GOLD PRODUCED ALL-IN SITE COST AVG GOLD SALE PRICE NET CASH & BULLION CASHFLOW(1) 253,709 oz - Dec24 HY US$1,162/oz – Dec 24 HY US$2,350/oz - Dec 24 HY US$300M – Dec 24 HY US$704M(2) at 31 Dec 24 502,109 oz - CY24 US$1,147 - C
Slide 6: Strong Gold Production at Improving Cash Margins
STRONG GOLD PRODUCTION AT IMPROVING CASH MARGINS • All 3 mines performing consistently well following temporary setbacks early in H1 FY25. • Steadily expanding cash margin due to elevated gold prices and falling unit costs, increases Perseus’s cash and bullion balance to US$704M • Strong operating p
Slide 7: Continue to Successfully Execute Our Business Plans
CONTINUE TO SUCCESSFULLY EXECUTE OUR BUSINESS PLANS Continue to consistently deliver production & costs in line with market expectations PERSEUS MINING PERSEUSMINING.COM 7
Slide 8: Yaouré
YAOURÉ • 66,700 ounces of gold produced, ~ 50% of Perseus’s total production, 18% higher than September ’24 quarter. Result based on sound metrics of runtime (95%), head grade (2.16g/t), recovery (93.9%). • Production cost of US$843 per ounce and AISC of US$1,037 per ounce down on prior quarter by $
Slide 9: Edikan
EDIKAN • 48,868 ounces of gold produced, ~ 37% of Perseus’s total production, 2% higher than September’24 quarter. Result based on sound metrics of runtime (96%), head grade (1.01g/t), recovery (90.5%). • Production cost of US$820 per ounce (up 1% on September’24 quarter) and AISC of US$1,023 per ou
Slide 10: Sissingué
SISSINGUÉ • 16,851 ounces of gold produced, ~ 13% of Perseus’s total production, 1% decrease over the September’24 quarter, based on sound metrics of runtime (94%), head grade (1.54g/t), and recovery (88.6%) • Production cost of US$1,509 per ounce and AISC of US$1,782 per ounce, 10% up on the Septem
Slide 11: 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 12: Financial Position
FINANCIAL POSITION PERSEUS MINING LIMITED PERSEUSMINING.COM 12
Slide 13: Cashflow and Balance Sheet
• Cash ($628 million) and bullion CASHFLOW AND BALANCE SHEET ($76 million) at 31 December totaling US$704 million • Zero debt, with US$300 million undrawn credit line • US$61 million net increase in cash and bullion • Includes: • Operating margin US$207M • Tax payments US$24M • NCI Payment US$15M •
Slide 14: Reconciliation of All-In Site Cost to All-In Sustaining Cost
RECONCILIATION OF “ALL-IN SITE COST” TO “ALL-IN SUSTAINING COST” (US$/OUNCE) Note: Included in both the All-In-Site-Cost and All-In-Sustaining-Cost in Q2 FY25 is US$4.1 million of costs relating to excess waste stripping. When reporting cost of sales, in line with accepted practice under IFRS, this
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, has been taken1. • The Australian specialist underground mining contractor Byrnecut has been appointed as the primary mining contractor for
Slide 17: Nyanzaga Mine Development Project
NYANZAGA MINE DEVELOPMENT PROJECT • Negotiations with the Government of Tanzania to clarify / modify specific clauses within the Framework Agreement are very advanced but not complete. • Finalisation of fiscal terms is a critical pre-requisite for taking a FID to advance to the stage of full develop
Slide 18: Exploration & Studies – Focus on Mine Life Extensions
EXPLORATION & STUDIES – FOCUS ON MINE LIFE EXTENSIONS COTE D’IVOIRE – Yaouré, Sissingué and Fimbiasso Exploitation Permits • Exploration activities on the Yaouré exploitation permit focused on drilling at Yaouré Pit, at Zain 1, at Z2 and at STEREX, a combined exploration and sterilisation drilling p
Slide 19: Exploration & Studies: Meyas Sands Gold Project - Sudan
EXPLORATION & STUDIES MEYAS SANDS GOLD PROJECT - SUDAN • Activities at the MSGP site were limited to exploration works, pending a change in the geo-political situation in country. Works included: – Exploration activities at MSGP focused on processing, dispatching and interpreting of samples from the
Slide 20: Exploration & Studies: Tanzania
EXPLORATION & STUDIES TANZANIA • Drilling at Nyanzaga continued with eight rigs operating aimed at supplementing and filling gaps of work done by previous owners and to provide information on which to base the large-scale open pit mine design being planned by Perseus. Specifically: – Resource defini
Slide 21: Sustainability Performance
SUSTAINABILITY PERFORMANCE PERSEUS MINING LIMITED PERSEUSMINING.COM 21
Slide 22: 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 0.66 for Q2 FY25. There were no recordable injuries in Q2 FY25 across the Group. • Group 12-month rolling average Lost T
Slide 23: For information contact
For Thismore information presentation wasplease contact: authorised for release by Perseus Managing Director and CEO, Jeff Quartermaine ASX/TSX: PRU | WWW.PERSEUSMINING.COM