JUNE 2022 QUARTER REPORT Perseus Mining delivers another strong performance FY2022 ASIC of US$952 per ounce
26 JULY 2022
NEWS RELEASE
PERSEUS MINING LIMITED
Level 2, 437 Roberts Road, Subiaco WA 6008
ABN: 27 106 808 986
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JUNE 2022 QUARTER REPORT
Perseus Mining delivers another strong performance
FY2022 ASIC of US$952 per ounce
PERTH, Western Australia/ July 26, 2022/Perseus Mining Limited (“Perseus” or the “Company”) (TSX & ASX: PRU)
reports on its activities for the three months’ period ended June 30, 2022 (the “Quarter”).
PERFORMANCE INDICATOR UNIT DECEMBER 2021
HALF YEAR
MARCH 2022
QUARTER
JUNE 2022
QUARTER
JUNE 2022
HALF YEAR
2022 FINANCIAL
YEAR
Gold recovered Ounces 241,164 130,523 122,327 252,850 494,014
Gold poured Ounces 237,483 132,644 120,409 253,053 490,536
Production Cost US$/ounce 839 789 881 834 836
All-In Site Cost (AISC) US$/ounce 949 908 1,004 955 952
Gold sales Ounces 238,135 131,044 111,897 242,941 481,075
Average sales price US$/ounce 1,663 1,701 1,705 1,703 1,683
Notional Cashflow US$ million 172 104 85 189 361
• Key Operating highlights include:
– Weighted average AISCs of US$952 per ounce for the financial year to 30 June 2022 (FY2022), in the bottom
quartile of the market guidance range. AISC for the June 2022 half year and quarter of US$955 and US$1,004
per ounce respectively, both within market expectations.
– Annual gold production of 494,014 ounces was in upper half of market guidance range, notwithstanding a
19-day preventative maintenance shut at Edikan in the June 2022 quarter. Half Year production of 252,850
ounces included 122,327 ounces of gold produced during the June quarter.
– Average cash margin of US$731 per ounce of gold for FY2022, and US$748 and US$701 per ounce
respectively for the half and quarterly year periods.
– Annual gold sales of 481,075 ounces at a weighted average sales price of US$1,683 per ounce including
111,897 ounces of gold sold during the quarter at US$1,705 per ounce.
– Notional cashflow from operations of US$361 million during FY2022 included June 2022 Half year and
quarterly notional cashflows of US$189 million, and US$85 million respectively.
• The death of a Yaouré contractor’s employee following an accident on site late in the June quarter, overshadowed
Perseus’s otherwise strong ESG performance and improvements made during the quarter.
• Perseus’s strong operating performance is forecast to continue with market guidance for the December 2022
Half Year of 240,000 to 265,000 ounces produced at an AISC of US$1,000 to US$1,100 per ounce.
• Business growth activities delivered excellent results, with a material increase in Perseus’s Ore Reserves
inventory and mine lives at Edikan and potentially, Yaouré.
– Indicated Mineral Resources at Nkosuo near Edikan containing 422,000 ounces and Inferred Mineral
Resources containing a further 27,000 ounces giving rise to Probable Ore Reserves totalling 10 million tonnes
of ore grading 1.04g/t gold and containing 332,000 ounces of gold.
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PERSEUSMINING.COM
– The Prefeasibility Study for the CMA Underground Project progressed. Drilling was completed, resource
modelling well advanced and preliminary mining, geotechnical and metallurgical study work completed. An
updated Mineral Resource and Maiden Ore Reserve will be released during the September 2022 quarter.
• Perseus’s financial position continues to strengthen with available cash and bullion of US$328 million, debt of
US$50 million, and net cash of US$278 million at 30 June 2022, US$50 million more than last quarter.
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NEWS RELEASE | JUNE 2022 QUARTER REPORT
PERSEUSMINING.COM
OPERATIONS
QUARTERLY PRODUCTION, COSTS AND NOTIONAL CASHFLOW
Perseus’s three operating gold mines, Yaouré and Sissingué in Côte d’Ivoire, and Edikan in Ghana have combined to
produce a total of 122,327 ounces of gold in the June 2022 quarter, bringing total annual gold production to 494,014
ounces for the first time.
The weighted average production cost of the Perseus group during the quarter was US$881 per ounce, while the
weighted average AISC was US$1,004 per ounce of gold produced. On an annual basis, Perseus’s AISC of US$952 per
ounce placed the Company near the middle of the global gold cost curve, as reported in JP Morgan’s June 2022 Gold
Sector Review.
Table 1: Cost and Production Summary by Mine
MINE
TOTAL GOLD PRODUCED (OUNCES) ALL-IN SITE COST (US$/OUNCE)
DECEMBER 2021
QUARTER
MARCH 2022
QUARTER
JUNE 2022
QUARTER
DECEMBER 2021
QUARTER
MARCH 2022
QUARTER
JUNE 2022
QUARTER
Yaouré 75,189 76,921 81,150 700 662 641
Edikan 35,124 38,590 28,668 1,450 1,336 1,859
Sissingué 18,065 15,012 12,509 905 1,067 1,398
Perseus Group 128,378 130,523 122,327 934 908 1,004
Combined gold sales from all three operations totalled 111,897 ounces this quarter at a weighted average gold price
realised of US$1,705 per ounce. For the full financial year, sales amounted to 481,075 ounces, at a weighted average
realised gold price of US$1,683 per ounce. Perseus’s average cash margin for the June 2022 quarter was US$701 per
ounce, or US$731 per ounce for the full financial year.
Notional operating cashflow from operations for the quarter was US$85 million, bringing the total amount of notional
cashflow generated by Perseus during the financial year to 30 June 2022 to US$361 million, the majority of which was
generated by our Yaouré Gold Mine.
Table 2: Realised Gold Price and Notional Cash Flow by Mine
MINE
REALISED GOLD PRICE
(US$ PER OUNCE)
NOTIONAL CASH FLOW FROM OPERATIONS
(US$ MILLION)
DECEMBER 2021
QUARTER
MARCH 2022
QUARTER
JUNE 2022
QUARTER
DECEMBER 2021
QUARTER
MARCH 2022
QUARTER
JUNE 2022
QUARTER
Yaouré 1,699 1,720 1,673 75 81 84
Edikan 1,613 1,673 1,802 6 13 -2
Sissingué 1,638 1,683 1,673 13 9 3
Perseus Group 1,669 1,701 1,705 94 104 85
Both of Perseus’s gold production and AISCs for the June 2022 half and full financial year as reported above, were
strong relative to market guidance (refer to Table 3), confirming that Perseus’s plan to transform into a reliable,
diversified mid-tier gold producer is on track.
Table 3: Cost and Production Relative to Market Guidance
PERFORMANCE INDICATOR HALF YEAR TO 30 JUNE 2022 FULL 2022 FINANCIAL YEAR
GUIDANCE ACTUAL GUIDANCE ACTUAL
Gold Production (ounces) 230,00 to 265,000 252,820 471,164 to 506,164 494,014
AISC (US$ per ounce) 915 to 1,085 955 932 to 1,020 952
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NEWS RELEASE | JUNE 2022 QUARTER REPORT
PERSEUSMINING.COM
YAOURÉ GOLD MINE, CÔTE D’IVOIRE
Yaouré has once again outperformed expectations this quarter, producing above the guided gold production range
and below the bottom end of the market cost guidance range for both the June Half Year and the full financial year to
30 June 2022. In the process, Yaouré has produced approximately 66% of the Perseus Group’s quarterly gold
production at an AISC that positions the mine towards the bottom end of the global gold cost curve referred to above.
Taking the reasonably strong market for gold that has prevailed this financial year into account, in the 12 months to 30
June 2022, Yaouré has generated US$306 million of notional cashflow, US$41 million more than the development cost
of the mine.
During the quarter, Yaouré increased its gold production by a further 6% compared to the prior quarter to 81,150
ounces of gold at a production cost of US$543 per ounce and an AISC of US$641 per ounce. The weighted average
sales price of the 70,761 ounces of gold sold during the quarter was US$1,673 per ounce, giving rise to a cash margin
of US$1,032 per ounce. Notional operating cashflow generated by Yaouré was US$84 million during the quarter,
US$2.3 million more than in the March 2022 quarter.
The improving gold production at Yaouré reflected higher mill throughput rates (512 tph compared to 507 tph). Mill
run time of 93% compared to 94% during the prior quarter, gold recovery rates (93.8% compared to 93.5%) and head
grade of processed ore (2.60 g/t to 2.50 g/t) were all reasonably steady and in line with expectations.
The 3% reduction in quarter-on-quarter AISCs, largely reflected the increase in gold production. A slight decrease in
royalties due to the timing of sales was offset by a US$5 per ounce increase in sustaining capital costs related to costs
associated with the tailings’ storage facility and other site building works. On a unit cost basis, mining costs and G&A
were reasonably steady although processing costs per tonne increased as a result of slightly more maintenance
activities at the front end of the circuit. Refer to Table 4 below for details of key operating and financial parameters.
Table 4: Yaouré Quarterly Performance
PARAMETER UNIT DECEMBER 2021
HALF YEAR
MARCH 2022
QUARTER
JUNE 2022
QUARTER
JUNE 2022
HALF YEAR
2022 FINANCIAL
YEAR
Gold Production & Sales
Total material mined Tonnes 16,210,761 9,295,689 8,881,028 18,176,717 34,387,478
Total ore mined Tonnes 2,448,820 1,463,248 1,899,069 3,362,317 5,811,137
Average ore grade g/t gold 2.02 1.93 1.88 1.90 1.95
Strip ratio t:t 5.6 5.4 3.7 4.4 4.9
Ore milled Tonnes 1,859,582 1,025,345 1,036,331 2,061,676 3,921,258
Milled head grade g/t gold 2.51 2.5 2.6 2.55 2.53
Gold recovery % 93.2 93.5 93.8 93.6 93.4
Gold produced ounces 139,747 76,921 81,150 158,071 297,818
Gold sales1 ounces 139,724 74,947 70,761 145,708 285,432
Average sales price US$/ounce 1,695 1,720 1,673 1,697 1,696
Unit Production Costs
Mining cost US$/t mined 2.71 2.66 2.74 2.70 2.70
Processing cost US$/t milled 13.63 12.38 13.96 13.17 13.39
G & A cost US$M/month 1.99 1.62 1.76 1.69 1.84
All-In Site Cost
Production cost US$/ounce 581 549 543 546 562
Royalties US$/ounce 87 86 67 76 81
Sub-total US$/ounce 669 635 610 622 644
Sustaining capital US$/ounce 18 26 31 29 24
Total All-In Site Cost2 US$/ounce 687 662 641 651 668
Notional Cashflow from Operations
Cash Margin US$/ounce 1,008 1,058 1,032 1,046 1,028
Notional Cash Flow US$M 140.9 81.4 83.7 165.3 306.2
Notes:
1. Gold sales are recognised in Perseus’s accounts when gold is delivered to the customer from Perseus’s metal account
2. Included in the AISC for the quarter is US$2.98 million of costs relating to excess waste stripping. When reporting cost of sales, in line with
accepted practice under IFRS, this cost will be capitalised and the costs amortised over the remainder of the relevant pit life.
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NEWS RELEASE | JUNE 2022 QUARTER REPORT
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MINERAL RESOURCE TO MILL RECONCILIATION
The reconciliation of processed ore tonnes, grade and contained gold relative to the Yaouré Mineral Resource block
model are shown in Table 5. During the last quarter, 35% more ore tonnes at 12% lower grade for 19% more ounces
have been produced compared to the Mineral Resource model. Over the last six months and project to-date, Yaouré
continues to produce more metal than predicted by the Mineral Resource model. The performance of the Yaouré
Mineral Resource model to date is considered satisfactory, however work will continue to optimise the grade and
reduce dilution.
Table 5: Yaouré Block Model to Mill Reconciliation
PARAMETER BLOCK MODEL TO MILL CORRELATION FACTOR
3 MONTHS 6 MONTHS 1 YEAR
Tonnes of Ore 1.35 1.32 1.24
Head Grade 0.88 0.89 0.91
Contained Gold 1.19 1.17 1.13
FATAL ACCIDENT AT YAOURÉ
On Friday 24 June 2022, an employee of our mining contractor at Yaouré, EPSA Group, was fatally injured following an
accident while working in EPSA’s heavy vehicle workshop. Perseus undertook an investigation into the incident and
has consulted with the relevant Ivorian regulatory authorities.
Following the accident, a thorough review of all health and safety critical risks and controls has been initiated for all
activities undertaken by Perseus’s employees and contractors across our three operating sites. This review will be
followed by an improvement program where needed. This work will be conducted throughout FY2023, first prioritising
the most significant risks at each site. The cultural Safety Transformation Program that has been underway since
February 2022 has also been re-focused to ensure that all employees and contractors understand their personal and a
collective role in creating a safe workplace, including coaching managers and supervisors on how they can lead the
way.
Both Perseus and EPSA are providing support to help the victim’s family following this tragic accident, as well as
offering support to our entire team at Yaouré and our other operations as they come to terms with the tragic loss of a
colleague.
SISSINGUÉ GOLD MINE, CÔTE D’IVOIRE
Since pouring first gold in January 2018, Sissingué has continued to comfortably perform in line with market
production and cost guidance, generating solid cashflow for Perseus and consistently achieving the targets that were
originally set for the mine.
During the quarter, 12,509 ounces of gold were produced at Sissingué at a production cost of US$1,227 per ounce and
an AISC of US$1,398 per ounce, an increase relative to prior periods. The weighted average sales price of the 13,445
ounces of gold sold during the quarter was reasonably steady at US$1,673 per ounce, giving rise to a reduced cash
margin of US$275 per ounce. Notional cashflow generated by the Sissingué operation totalled US$3.4 million, US$5.9
million less than in the prior quarter. Refer to Table 6 below for details of operating and financial parameters.
The 2,503-ounce decrease in quarterly gold production largely resulted from an 11% decrease in the quantity of ore
processed. This was caused by a change in the composition of mill feed as more sedimentary ore was processed
compared to prior periods, and a reduction in mill run time due to maintenance activities early in the quarter. The
head grade of processed ore also decreased from 1.32g/t to 1.24g/t, due to the composition of the mill feed but gold
recovery rates remained stable at 89.6%.
The 31% or US$331 per ounce increase in quarter-on-quarter AISCs, was primarily a function of the 28% increase in
production costs, attributable to the 17% decrease in the number of ounces of gold produced during the quarter, as
explained above, and an increase in consumable and maintenance costs. Royalties per ounce also increased due to the
timing of gold sales (i.e. royalties from the prior quarter were paid this quarter), while sustaining capital costs also
increased reflecting an increase in expenditure on expanding the capacity of the TSF and upgrading security
infrastructure at the mine.
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Table 6: Sissingué Quarterly Performance
PARAMETER UNIT DECEMBER 2021
HALF YEAR
MARCH 2022
QUARTER
JUNE 2022
QUARTER
JUNE 2022
HALF YEAR
2022 FINANCIAL
YEAR
Gold Production & Sales
Total material mined Tonnes 1,102,186 1,242,344 1,205,035 2,447,379 3,549,565
Total ore mined Tonnes 348,975 228,130 325,609 553,739 902,714
Average ore grade g/t gold 1.17 0.72 1.03 0.9 1.0
Strip ratio t:t 2.2 4.5 2.7 3.4 2.9
Ore milled Tonnes 675,372 395,131 350,919 746,050 1,421,422
Milled head grade g/t gold 1.78 1.32 1.24 1.28 1.52
Gold recovery % 88.5 89.8 89.6 89.7 89.0
Gold produced ounces 34,132 15,012 12,509 27,521 61,653
Gold sales1 ounces 34,870 16,264 13,445 29,709 64,579
Average sales price US$/ounce 1,630 1,683 1,673 1,680 1,653
Unit Production Costs
Mining cost US$/t mined 7.81 4.52 4.65 4.58 5.58
Processing cost US$/t milled 18.01 14.09 18.10 15.97 16.94
G & A cost US$M/month 1.22 1.07 1.13 1.10 1.16
All-In Site Cost1
Production cost US$/ounce 823 958 1,227 1,080 938
Royalties US$/ounce 89 97 124 110 98
Sub-total US$/ounce 912 1,055 1,351 1,190 1,036
Sustaining capital US$/ounce 5 13 47 28 15
Total All-In Site Cost US$/ounce 917 1,067 1,398 1,218 1,051
Notional Cashflow from Operations1
Cash Margin US$/ounce 713 616 275 460 601
Notional Cash Flow US$M 24.3 9.3 3.4 12.6 37.0
Notes:
1. Gold sales are recognised in Perseus’s accounts when gold is delivered to the customer from Perseus’s metal account.
2. Included in the AISC for the quarter is US$0.45 million of costs relating to excess waste stripping. When reporting cost of sales, in line with
accepted practice under IFRS, this cost will be capitalised and the costs amortised over the remainder of the relevant pit life.
MINERAL RESOURCE TO MILL RECONCILIATION
The reconciliation of processed ore tonnes, grade and contained ounces relative to the Sissingué Mineral Resource
block model is in Table 7 below. During the last three months, grade control has predicted materially increased tonnes
(25%) increased grade (4%) and ounces (29%) when compared to the Mineral Resource Estimate. Over the last six- and
12-month periods of operation, Sissingué has also produced more metal than predicted by the Mineral Resource
model. Perseus regards the overall outperformance as an acceptable variance, and a significant amount of work has
been invested to more closely align the Resource Model with the over-delivery of ore experienced in the grade
control.
Table 7: Sissingué Block Model to Mill Reconciliation
PARAMETER BLOCK MODEL TO MILL CORRELATION FACTOR
3 MONTHS 6 MONTHS 1 YEAR
Tonnes of Ore 1.25 1.32 1.18
Head Grade 1.04 1.06 1.01
Contained Gold 1.29 1.39 1.19
UPDATE ON THE LIFE OF MINE PLAN EXTENSION FOR THE SISSINGUÉ OPERATION
Work is ongoing to obtain an Exploitation Permit (EP) covering the Bagoé exploration permit area. Community
consultation processes required as part of the environmental permitting process were completed, and the ESIA
(Environment and Social Impact Assessment), a prerequisite to the granting of the EP was completed, lodged with
authorities and validated by the government’s inter-departmental review. Evaluation of the EP application is currently
in process.
A further review of compensation entitlements for farmers who will be impacted by the development of the Fimbiasso
pit, has been undertaken and payments are pending.
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EDIKAN GOLD MINE, GHANA
In summary, and in contrast to Perseus’s other two gold mines, Edikan’s operating performance during the June 2022
quarter was disappointing, falling short of Perseus’s required standards. This was partially due to the availability of
Edikan’s processing facility being reduced by 21% during the quarter while the 19-day preventative maintenance shut-
down, foreshadowed in the March 2022 Quarter Report, was undertaken. It also resulted from a combination of
inadequate management of previous maintenance activities on the CIL tanks that impacted gold recovery rates, and
poor block model to mill reconciliation recorded while mining in the AG Pit cutback area was completed.
On a positive note, the maintenance shutdown was successfully completed and since Edikan’s processing operations
recommenced in mid-June 2022, almost all processing KPIs have been achieved or exceeded, helping to partially
reduce the deficit caused by the shutdown of operations, but more importantly, providing confidence that with
appropriate management, forecasts for the FY2023 years are achievable.
During the quarter, a total of 28,668 ounces of gold were produced at Edikan (26% less than in the March quarter) at a
production cost of US$1,685 per ounce and an AISC of US$1,859 per ounce, 39% higher than in the prior quarter. Gold
sales of 27,691 ounces were 30% less than in the prior quarter, at a weighted average realised gold price of US$1,802
per ounce, US$129 per ounce more than in the prior quarter. This generated a cash margin of -US$56 per ounce,
approximately $400 per ounce less than the prior quarter. Negative notional cashflow of US$1.7 million resulted which
was US$14.6 million worse than in the prior period. Table 8 summarises the key operating and financial parameters.
While an allowance was built into the Edikan market production and cost guidance for the June half year and the full
financial year to allow for events such as those referred to above, this allowance was insufficient and both production
and AISCs for both periods fell short of guidance. For the June half year, Edikan produced 67,258 ounces of gold at an
AISC of US$ 1,559 per ounce compared to market guidance of 75,000 to 90,000 ounces at US$1,210 to US$1,430 per
ounce, while for the full financial year, 134,543 ounces of gold were produced at an AISC of US$1,534 per ounce
compared to market guidance of 142,284 to 157,284 ounces at US$1,350 to US$1,465 per ounce.
Table 8: Edikan Quarterly Performance
PARAMETER UNIT DECEMBER 2021
HALF YEAR
MARCH 2022
QUARTER
JUNE 2022
QUARTER
JUNE 2022
HALF YEAR
2022 FINANCIAL
YEAR
Gold Production & Sales
Total material mined Tonnes 15,413,395 6,829,223 6,577,009 13,406,232 28,819,627
Total ore mined Tonnes 1,624,878 1,242,630 1,289,580 2,532,210 4,157,088
Average ore grade g/t gold 0.91 1.03 1.08 1.06 1.00
Strip ratio t:t 8.5 4.50 4.10 4.29 5.93
Ore milled Tonnes 3,487,218 1,633,717 1,250,300 2,884,017 6,371,235
Milled head grade g/t gold 0.73 0.86 0.86 0.86 0.78
Gold recovery % 83.0 85.8 83.1 84.6 83.8
Gold produced ounces 67,285 38,590 28,668 67,258 134,543
Gold sales1 ounces 63,541 39,833 27,691 67,524 131,064
Average sales price US$/ounce 1,608 1,673 1,802 1,726 1,669
Unit Production Costs
Mining cost US$/t mined 3.41 3.82 4.17 3.99 3.68
Processing cost US$/t milled 8.39 9.97 12.95 11.26 9.69
G & A cost US$M/month 1.89 1.33 1.56 1.45 1.67
All-In Site Cost2
Production cost US$/ounce 1,383 1,202 1,685 1,408 1,396
Royalties US$/ounce 102 116 117 116 109
Sub-total US$/ounce 1,485 1,318 1,802 1,524 1,505
Sustaining capital US$/ounce 24 18 57 34 29
Total All-In Site Cost2 US$/ounce 1,509 1,336 1,859 1,559 1,534
Notional Cashflow from Operations1
Cash Margin US$/ounce 98 337 -56 168 135
Notional Cash Flow US$M 6.6 13.0 -1.6 11.3 18.2
Notes:
1. Gold sales are recognised in Perseus’s accounts when gold is delivered to the customer from Perseus’s metal account.
2. Included in the AISC for the quarter is US$5.15 million of costs relating to excess waste stripping. When reporting cost of sales, in line with
accepted practice under IFRS, this cost will be capitalised and the costs amortised over the remainder of the relevant pit life.
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MINERAL RESOURCE TO MILL RECONCILIATION
The reconciliation of processed ore tonnes, grade and contained ounces relative to the Edikan Mineral Resource block
model are shown in Table 9 below.
Table 9: Edikan Block Model to Mill Reconciliation
PARAMETER BLOCK MODEL TO MILL CORRELATION FACTOR
3 MONTHS 6 MONTHS 1 YEAR
Tonnes of Ore 1.07 0.99 0.91
Head Grade 0.74 0.81 0.82
Contained Gold 0.79 0.80 0.75
Block model to mill reconciliation improved during the last part of the quarter relative to the prior periods in FY22.
Mining has moved below the existing Stage 2 cutback void in the AG Pit which is the principal source of ore. During
the quarter, ongoing work to reduce mining dilution continued to deliver solid results. Geological mapping has been
successfully integrated into the daily ore prediction modelling and reflects the improving performance at Edikan.
Based on reconciliation results achieved in Q4 and the completion of the drilling for the next 30m of mining in the AG
pit, the reconciliation has reverted to expected performance for the AG pit.
GROUP GOLD PRODUCTION AND COST MARKET GUIDANCE
Production and cost guidance for the Perseus Group and each of its individual mines for the six months and calendar
year ending 31 December 2022, is as set out below in Table 10 below.
Table 10: Production and Cost Guidance
PARAMETER UNITS JUNE 2022 HALF YEAR
(ACTUAL)
DECEMBER 2022 HALF YEAR
(FORECAST)
2022 CALENDAR YEAR
(FORECAST)
Yaouré Gold Mine
Production Ounces 158,071 130,000 to 140,000 288,071 to 298,071
All-in Site Cost USD per ounce 651 810 to 875 725 to 750
Sissingué Gold Mine
Production Ounces 27,521 20,000 to 25,000 47,521 to 52, 521
All-in Site Cost USD per ounce 1,218 1,600 to 1,950 1,400 to 1,525
Edikan Gold Mine
Production Ounces 67,258 90,000 to 100,000 157,258 to 167,258
All-in Site Cost USD per ounce 1,559 1,190 to 1,320 1,340 to 1,420
PERSEUS GROUP
Production Ounces 252,850 240,000 to 265,000 492,850 to 517,850
All-in Site Cost USD per ounce 954 1,000 to 1,100 980 to 1,025