Perseus Mining December 2023 Quarter Report

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Perth, Jan. 24, 2024 (GLOBE NEWSWIRE) — DECEMBER 2023 QUARTER REPORT

Perseus Mining produces 528,486 oz gold at US$984/oz AISC in CY 2023

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PERTH, Western Australia/ January 24, 2024/Perseus Mining Restricted (“Perseus” or the “Firm”) (TSX & ASX: PRU) reviews on its actions for the three months’ interval ended December 31, 2023 (the “Quarter”).

• Key working indicators and highlights for the December 2023 quarter embrace:

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• Gold manufacturing of 128,773 ounces within the December 2023 quarter, giving December Half 12 months and 2023 Calendar 12 months manufacturing of 261,577 ounces and 528,486 ounces, respectively.
• December 2023 quarter weighted common AISC of US$1,023 per ounce leading to December Half 12 months and 2023 Calendar 12 months AISC of US$979 per ounce and US$984 per ounce, respectively.
• Gold manufacturing within the December Half 12 months and 2023 Calendar 12 months each within the higher half of guided manufacturing ranges whereas AISC was beneath the underside finish of guided price ranges in the identical intervals.
• Quarterly gold gross sales elevated to 135,137 ounces; common quarterly gold sale worth elevated to US$1,963 per ounce.
• Common quarterly money margin of US$940 per ounce of gold resulted in notional working cashflow of US$122 million within the quarter and US$492 million for the 2023 calendar 12 months, US$90 million or 22% greater than 2022 Calendar 12 months.
• Robust working efficiency anticipated to proceed within the June 2024 Half 12 months. Gold manufacturing guided at 226,000 to 254,000 ounces at AISC of US$1,180 to US$1,340 per ounce for the interval, which might lead to 491,000 to 517,000 ounces at an AISC of US$1,000 to US$1,100 per ounce for the Monetary 12 months ending 30 June 2024.
• Natural progress actions included completion of a DFS for the CMA Underground improvement at Yaouré in addition to numerous brownfields exploration programmes to develop Mineral Assets inventories at our working mines.
  • Accessible money and bullion stability of US$642 million, in addition to US$60 million of listed securities at quarter-end. Zero debt and US$300 million of undrawn debt capability obtainable.
  • Group 12-month rolling common TRIFR at 0.89, down from 1.07 within the September 2023 quarter.

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Group Gold Manufacturing and Price Market Steerage

Desk 10: Manufacturing and Price Steerage

COMPETENT PERSON STATEMENT

All manufacturing targets referred to on this launch are underpinned by estimated Ore Reserves which have been ready by competent individuals in accordance with the necessities of the JORC Code.

Edikan

The data on this launch that pertains to the Open Pit and Underground Mineral Assets and Ore Reserve at Edikan was up to date by the Firm in a market announcement “Perseus Mining updates Mineral Assets and Ore Reserves” launched on 24 August 2023. The Firm confirms that each one materials assumptions underpinning these estimates and the manufacturing targets, or the forecast monetary info derived therefrom, in that market launch proceed to use and haven’t materially modified. The Firm additional confirms that materials assumptions underpinning the estimates of Ore Reserves described in “Technical Report — Edikan Gold Mine, Ghana” dated 7 April 2022 proceed to use.

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Sissingué, Fimbiasso and Bagoé

The data on this launch that pertains to the Mineral Assets and Ore Reserve on the Sissingué advanced was up to date by the Firm in a market announcement “Perseus Mining updates Mineral Assets and Ore Reserves” launched on 24 August 2023. The Firm confirms that each one materials assumptions underpinning these estimates and the manufacturing targets, or the forecast monetary info derived therefrom, in that market launch proceed to use and haven’t materially modified. The Firm additional confirms that materials assumptions underpinning the estimates of Ore Reserves described in “Technical Report — Sissingué Gold Challenge, Côte d’Ivoire” dated 29 Could 2015 proceed to use.

Yaouré

The data on this launch that pertains to the Open Pit and Underground Mineral Assets and Ore Reserve at Yaouré was up to date by the Firm in a market announcement “Perseus Mining pronounces Open Pit and Underground Ore Reserve replace at Yaouré” launched on 23 August 2023. The Firm confirms that each one materials assumptions underpinning these estimates and the manufacturing targets, or the forecast monetary info derived therefrom, in that market launch proceed to use and haven’t materially modified. The Firm additional confirms that materials assumptions underpinning the estimates of Ore Reserves described in “Technical Report — Yaouré Gold Challenge, Côte d’Ivoire” dated 19 December 2023 proceed to use.

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Meyas Sand Gold Challenge

The data on this report that pertains to the mineral sources and possible reserves of the Meyas Sand Gold Challenge was first reported by the Firm in a market announcement “Perseus Enters Into Settlement to Purchase Orca Gold Inc.” launched on 28 February 2022. The Firm confirms it isn’t in possession of any new info or knowledge regarding these estimates that materially impacts of the reliability of the estimate of the Firm’s means to confirm the estimate as a mineral useful resource or ore reserve in accordance with Appendix 5A (JORC Code) and the knowledge in that unique market launch continues to use and haven’t materially modified. These estimates are ready in accordance with Canadian Nationwide Instrument 43-101 requirements and haven’t been reported in accordance with the JORC Code. A reliable particular person has not completed adequate work to categorise the useful resource in accordance with the JORC Code and it’s unsure that following analysis and/or additional exploration work that the estimate will have the ability to be reported as a mineral useful resource or ore reserve in accordance with the JORC Code. This launch and all technical info relating to Orca’s NI 43-101 have been reviewed and accredited by Adrian Ralph, a Certified Individual for the needs of NI 43-101.

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CAUTION REGARDING FORWARD LOOKING INFORMATION:

This report accommodates forward-looking info which is predicated on the assumptions, estimates, evaluation and opinions of administration made in gentle of its expertise and its notion of traits, present situations and anticipated developments, in addition to different elements that administration of the Firm believes to be related and affordable within the circumstances on the date that such statements are made, however which can show to be incorrect. Assumptions have been made by the Firm relating to, amongst different issues: the value of gold, persevering with business manufacturing on the Yaouré Gold Mine, the Edikan Gold Mine and the Sissingué Gold Mine with none main disruption, the receipt of required governmental approvals, the accuracy of capital and working price estimates, the flexibility of the Firm to function in a secure, environment friendly and efficient method and the flexibility of the Firm to acquire financing as and when required and on affordable phrases. Readers are cautioned that the foregoing listing will not be exhaustive of all elements and assumptions which can have been utilized by the Firm. Though administration believes that the assumptions made by the Firm and the expectations represented by such info are affordable, there might be no assurance that the forward-looking info will show to be correct. Ahead-looking info entails identified and unknown dangers, uncertainties, and different elements which can trigger the precise outcomes, efficiency or achievements of the Firm to be materially totally different from any anticipated future outcomes, efficiency or achievements expressed or implied by such forward-looking info. Such elements embrace, amongst others, the precise market worth of gold, the precise outcomes of present exploration, the precise outcomes of future exploration, modifications in venture parameters as plans proceed to be evaluated, in addition to these elements disclosed within the Firm’s publicly filed paperwork. The Firm believes that the assumptions and expectations mirrored within the forward-looking info are affordable. Assumptions have been made relating to, amongst different issues, the Firm’s means to hold on its exploration and improvement actions, the well timed receipt of required approvals, the value of gold, the flexibility of the Firm to function in a secure, environment friendly and efficient method and the flexibility of the Firm to acquire financing as and when required and on affordable phrases. Readers mustn’t place undue reliance on forward-looking info. Perseus doesn’t undertake to replace forward-looking info, besides in accordance with relevant securities legal guidelines.

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Attachment

• 20240124 TSX Release_Quarterly Report FY24-Q2_Final

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