Perseus Makes Strategic Investment IN Predictive
1
14 AUGUST 2024
NEWS RELEASE
PERSEUSMINING.COM
PERSEUS MAKES STRATEGIC INVESTMENT IN PREDICTIVE
Perth, Western Aus tralia/ Aug ust 14, 2024/Perseus Mining Limited (ASX/TSX:PRU) ( Perseus or the
Company) is pleased to announce that it has acquired a relevant interest in 13.82% of the issued shares of
Predictive Discovery Limited (Predictive) as a strategic equity investment (Predictive Share Acquisition).
Predictive is an emerging mineral development company listed on the ASX under the code PDI. Predictive’s
key asset is the Bankan Gold Project, a pre-development project located in Guinea, West Africa. The Bankan
Gold Project has a reported Probable Ore Reserve of 57.7 Mt @ 1.64 g/t gold containing 3.05 million ounces
of gold1.
In addition to the Predictive Share Acquisition, Perseus has an economic interest in approximately 3.45% of
Predictive shares through cash settled equity swaps. Further details of Perseus’s interests in Predictive will
be set out in a Form 603 Notice of Initial Substantial Holder which has been lodged on the ASX platform.
Perseus is not currently in discussions with Predictive and, subject to there being no actual or proposed
material change in the shareholding of Predictive (including a change of control proposal) or the actions of
Predictive, Perseus has no current intention to acquire control or make a takeover offer for Predictive.
Perseus’s Chairman and CEO Jeff Quartermaine said:
“As a deliberate element of our capital management strategy, Perseus continues to assess and, where
considered commercially appropriate, deploy our significant reserves of cash and bullion that totalled US$587
million at 30 June 2024, to pursue opportunities that will deliver material growth for our shareholders in
coming years.
Predictive’s Bankan Gold Project is an attractive gold development project located in a jurisdiction that has
an increasing presence in the gold mining industry. We are looking forward to working with the Predictive
management team and Board to help realise the potential of the Bankan Gold Project.
Perseus is currently focused on the development of our Nyanzaga Gold Project in Tanzania which we plan to
bring into production by Q1 2027, as well as continuing to successfully operate our three existing mines,
Yaouré, Sissingué and Edikan which in FY24 produced a total of 509,977 ounces of gold at a weighted average
AISC of US$1,053 per ounce2.”
This market announcement was authorised for release by Jeff Quartermaine, Chairman and CEO.
1 See Predictive announcement titled “PFS Delivers Attractive Financials & 3.05Moz Ore Reserve” released to ASX on 15 April 2024.
2 See Perseus presentation titled “June 2024 Quarter Report Webinar” released to ASX on 30 July 2024.
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PERSEUS MAKES STRATEGIC INVESTMENT IN PREDICTIVE
PERSEUSMINING.COM
ASX/TSX CODE: PRU
CAPITAL STRUCTURE:
Ordinary shares: 1,375,758,580
Performance rights: 7,693,145
REGISTERED OFFICE:
Level 2
437 Roberts Road
Subiaco WA 6008
Telephone: +61 8 6144 1700
www.perseusmining.com
DIRECTORS:
Mr Jeff Quartermaine
Chairman & CEO
Ms Amber Banfield
Non-Executive Director
Ms Elissa Cornelius
Non-Executive Director
Mr Dan Lougher
Non-Executive Director
Mr John McGloin
Non-Executive Director
Mr Rick Menell
Non-Executive Director
CONTACTS:
Jeff Quartermaine
Chairman & CEO
Stephen Forman
Investor Relations
+61 484 036 681
Nathan Ryan
Corporate Relations
+61 420 582 887