Slide 1: Investor Presentation cover letter
7 May 2008 For personal use only The Manager Company Announcements Office ASX Ltd 4th Floor, 20 Bridge Street SYDNEY, NSW 2000 Dear Sir INVESTOR PRESENTATION Mark Calderwood, the Company’s Managing Director will be conducting a series of investor presentations in Europe this week. A copy of the pres
Slide 2: Presentation May 2008
www.perseusmining.com ASX: PRU For personal use only Presentation May 2008
Slide 3: Introduction: Directors and Senior Officers
Introduction For personal use only Directors and Senior Officers As at April 1 2008 Ordinary Shares (PRU) 161.5M Reg Gillard (Chairman) 22yrs director/chairman, public companies Listed Options (PRUO) 12.7M Unlisted Options (avg. $0.61) 9.7M Mark Calderwood (Managing Director) Top 20 73.8% 22yrs expl
Slide 4: Objectives
Objectives For personal use only Objectives for 2008 Drilling 160,000m Resources targets: Ghana 5.0Moz (+40%), incl. 2.5M Meas. Ind. Ivory Coast 1.0Moz Reserve target 2.0Moz in Ghana with completion of Ayanfuri and Grumesa detailed feasibilities Production time tables and long lead items on order Vi
Slide 5: Perseus 2007
Perseus 2007 For personal use only One of the most successful junior explorers in West Africa +100,000m of drilling 2Moz resource increase to 4Moz $6/oz discovery cost Corporate Decisions - Spin out Kyrgyz projects to focus on West African Projects Dual list on TSX
Slide 6: Projects
For personal use only Projects
Slide 7: Ghana
Ghana For personal use only • Ashanti-Sefwi Belts (Ghana) - One of the world’s most prolific regions over the past two decades
Slide 8: Ghana
Ghana For personal use only • 6 licences & 2 mining leases 650sq km • Central Ashanti belt near 60Moz Obuasi mine • Resources 4.7Moz – 1,913,500oz Indicated – 2,856,100oz Inferred • 2008 target resources +5.0Moz – 2,500,000oz Meas. & Ind. – 2,500,000oz Inferred
Slide 9: Ghana – Ayanfuri
For personal use only Ghana Ayanfuri
Slide 10: Ghana – Ayanfuri
Ghana Ayanfuri For personal use only Jun Sep Nov
Slide 11: Ayanfuri Production targets
Ghana Ayanfuri For personal use only Production targets • 180,000 - 200,000 oz per ann. • 15yr+ mine life • Cash cost ~50% of gold price • Target operating margin US$58M/pa at US$750 gold US$76M/pa at US$850 gold • Increase throughput and production year 3?
Slide 12: Ayanfuri
Ghana Ayanfuri For personal use only Abnabna -Fobinso trend 8km long, under explored 2km strike drilled, 1.55Moz to date New Mampon discovery
Slide 13: Ghana – Ayanfuri
For personal use only Ghana Ayanfuri
Slide 14: Ayanfuri
Ghana Ayanfuri For personal use only • Ayanfuri and adjoining licences - under explored • More than 20 targets awaiting drilling • A number of intercepts in recent drilling including 24m @ 24g/t at Poku • 4 rigs on site
Slide 15: Ghana – Ayanfuri
For personal use only Ghana Ayanfuri
Slide 16: Grumesa (90%)
Ghana Grumesa (90%) For personal use only • Potential satellite production managed from Ayanfuri • 195,000oz Indicated 619,000oz Inferred resources • Low grade mineralisation, but suitable for low cost heap leach extraction • Deposit 4km long by 500m wide and only drilled to average depth of 40m • S
Slide 17: Ivory Coast – Tengrela (80%)
Ivory Coast Tengrela (80%) For personal use only • Morila - Tongon (Mali - Cote d'Ivoire) Under explored region renowned for large gold deposits; Morila, Syama, Tongon, Tabakoroni (total 19Moz)
Slide 18: Ivory Coast – Tengrela (80%)
Ivory Coast Tengrela (80%) For personal use only • Tengrela located on border of Ivory Coast and Mali • Project covers 65km strike of the Syama gold belt • 9 strong gold in soil anomalies identified • Area known for a high conversion rate of strong soil anomalies to large mines
Slide 19: Tengrela – Sissingue drilling
Ivory Coast Tengrela For personal use only Sissingue: 1st of 9 anomalies to be drilled: • RAB drilling in 2006 – strong mineralisation over 4km strike tested to date of 7km anomaly • Early RC/DD drilling highlights the potential of 800m by 250m Eastern Zone, including: 142.5m at 1.8g/t 24m at 4.3g/t
Slide 20: West Africa – Ivory Coast – Tengrela
West Africa – Ivory Coast Tengrela For personal use only
Slide 21: Tengrela Resource Potential
West Africa – Ivory Coast Tengrela For personal use only Resource Potential • Sissingue East similar size footprint to 6.4Moz Syama mine along strike to the north • Diamond drilling to 250m commenced Jan 2008 18 holes completed results from 6 • Targeting resource from Sissingue east zone in 2008, po
Slide 22: Tengrela Resource Potential (outside Sissingue)
West Africa – Ivory Coast Tengrela For personal use only Resource Potential (outside Sissingue) • Sissingue - Kanakono +20km long, under-explored corridor • Number of other quality targets to be drilled in 2008, 3 rigs on site another rig due in May
Slide 23: Central Asia – Kyrgyz Republic
Central Asia Kyrgyz Republic For personal use only Perseus to spin out projects in the Kyrgyz Republic Perseus plans to hold +40% in ASX hopeful Manas with significant “Carlin Style” projects with resources and recent high grade exploration results from new areas
Slide 24: Corporate Activities
Corporate Activities For personal use only Proposed Kyrgyz Assets Spin-off • Spin out transaction from Perseus to Manas - May 2008 • Manas lists - June 2008 Proposed TSX listing • Completion of NI 43-101 reports - April 2008 • File preliminary prospectus - May 2008
Slide 25: Value
Value • Most peers For personal use only are TSX listed • TSX values West African ounces fairly
Slide 26: Summary
For personal use only Summary Perseus an advanced West African gold explorer Quality projects – favourable locations Under valued ounces Aggressive exploration & feasibility studies Continued resource growth Reserves in 2008 - becoming “Emerging Producer”