SEPTEMBER 2023 QUARTER REPORT Perseus continues its market leading operating performance, increasing its cash and bullion balance to US$594M.
24 OCTOBER 2023
NEWS RELEASE
PERSEUS MINING LIMITED
Level 2, 437 Roberts Road, Subiaco WA 6008
ABN: 27 106 808 986
1
SEPTEMBER 2023 QUARTER REPORT
Perseus continues its market leading operating performance,
increasing its cash and bullion balance to US$594M.
PERTH, Western Australia/ October 24, 2023/Perseus Mining Limited (“Perseus” or the “Company”) (TSX & ASX: PRU)
reports on its activities for the three months’ period ended September 30, 2023 (the “Quarter”).
• Key operating highlights for the September 2023 quarter include:
– Quarterly gold production of 132,804 ounces at AISC of US$937 per ounce.
– Production and cost guidance for the Half Year to 31 December 2023 remain unchanged.
– Quarterly gold sales of 115,954 ounces, 17.5% below the June 2023 quarter due to timing of sales.
– Average sale price of gold was US$1,936 per ounce, up US$3 per ounce from the June 2023 quarter.
– Average cash margin of US$999 per ounce of gold sold, up 8% (+US$73 per ounce) from the June 2023 quarter.
– Notional cashflow of US$132 million during the quarter, up 4% (+US$5 million) from the June 2023 quarter.
– Strong quarterly cashflows have further strengthened Perseus’s financial position with available cash and bullion
of US$594 million, an increase of US$72 million during the September 2023 quarter.
– Zero debt with undrawn debt capacity of US$300 million.
– Group 12-month rolling average TRIFR at 1.07, down from 1.20 in the June 2023 quarter.
• Key operating indicators for the September 2023 quarter and the Calendar Year 2023 to date include:
PERFORMANCE INDICATOR UNIT MARCH 2023
QUARTER
JUNE 2023
QUARTER
JUNE 2023
HALF YEAR
SEPTEMBER 2023
QUARTER
CALENDAR 2023
YEAR TO DATE
Gold recovered Ounces 130,275 136,634 266,909 132,804 399,713
Gold poured Ounces 130,512 137,586 268,098 132,717 400,815
Production Cost US$/ounce 831 811 820 805 815
All-In Site Cost (AISC) US$/ounce 971 1,007 989 937 972
Gold sales Ounces 135,111 140,533 275,644 115,954 391,598
Average sales price US$/ounce 1,821 1,933 1,878 1,936 1,895
Cash margin US$/ounce 850 926 889 999 923
Notional Cashflow US$ million 111 127 238 132 370
NEWS RELEASE | SEPTEMBER 2023 QUARTER REPORT
PERSEUSMINING.COM
2
• Demonstrated financial capacity to continue business growth either through organic growth or M&A activity via value
accretive opportunities or a more aggressive approach to capital management.
• Yaouré Gold Mine Ore Reserves increased to 37.2 million tonnes of ore grading 1.73 g/t gold and containing 2.07 Moz
from open pits and underground operations. Life of mine extended to 2035, with potential for further extension.
• Planning is currently underway to upgrade security arrangements and recommence Mineral Resource definition drilling
at Meyas Sand Gold Project in Sudan.
• Perseus’s total economic contribution of ~US$129 million (approximately 58% of revenue) to host countries of Ghana,
Côte d’Ivoire and Sudan during the quarter, supporting its strong social licence to operate in these countries.
Perseus’s Managing Director and CEO Jeff Quartermaine said:
“This quarter, Perseus has produced another excellent operating performance with the Group’s gold production and AISC
outperforming internal targets, placing the Company on a firm footing to once again, achieve or potentially outperform
market guidance for the current Half Year Period ending 31 December 2023.
During the quarter, we also reported adding more ounces of gold to our gold inventory than we depleted through mining
activities in the preceding 12-month period. At Yaouré, our flagship gold mine, not only have we demonstrated our ability to
grow our business through organic means by increasing JORC Compliant Ore Reserves and Mineral Resources, but we have
also extended its operating life to 2035 by adding an underground mining operation to the existing open pit operation.
Our cash balance continues to grow. This quarter, we have added US$72 million to our cash and bullion balance increasing it
to US$594 million. We have zero debt and US$300 million of undrawn debt capacity. As a result, we are in an excellent position
to either continue to grow our business through organic or inorganic means, or actively return capital to shareholders, should
this prove to be a more appropriate use of funds.”
NEWS RELEASE | SEPTEMBER 2023 QUARTER REPORT
PERSEUSMINING.COM
3
OPERATIONS
PRODUCTION, COSTS AND NOTIONAL CASHFLOW
Perseus’s three operating gold mines, Yaouré and Sissingué in Côte d’Ivoire, and Edikan in Ghana c ombined to produce
132,804 ounces of gold in the September 2023 quarter. The weighted average production cost across all three operations
was US$805 per ounce, while the weighted average AISC incurred during the quarter was US$ 937 per ounce of gold, an
improvement of US$6 per ounce and US$70 per ounce respectively, compared to the June 2023 quarter.
During the quarter, combined gold sales totalled 115,954 ounces, approximately 24,579 or 17.5% less than in the prior
quarter due largely to the timing of sales transactions. The weighted average gold price realised was US$1,936 per ounce,
US$3 per ounce more than the June 2023 quarter price.
Perseus’s average cash margin for the September 2023 quarter was US$999 per ounce, 8% better than the cash margin of
US$926 per ounce achieved during the June 2023 quarter. Notional operating cashflow from operations was US$132 million,
US$5 million more than the June 2023 quarter, driven by the improved gold price achieved and reduced AISC offset slightly
by marginally decreased gold production.
These strong results summarised in Tables 1, 2 and 3 below, confirm Perseus’s position as one of the world’s higher
performing mid-tier gold producers in Calendar Year 2023 to date.
Table 1: Gold Production Summary by Mine
MINE
TOTAL GOLD RECOVERED (OUNCES) TOTAL GOLD POURED (OUNCES)
MARCH 2023
QUARTER
JUNE 2023
QUARTER
SEPTEMBER
2023 QUARTER
CALENDAR YEAR
2023 TO DATE
MARCH 2023
QUARTER
JUNE 2023
QUARTER
SEPTEMBER
2023 QUARTER
CALENDAR YEAR
2023 TO DATE
Yaouré 64,753 72,367 73,737 210,857 64,512 72,117 73,801 210,430
Edikan 53,720 50,232 48,497 152,449 54,096 51,939 47,882 153,917
Sissingué 11,803 14,035 10,570 36,407 11,904 13,530 11,034 36,468
Group 130,275 136,634 132,804 399,713 130,512 137,586 132,717 400,815
Table 2: Gold Sales by Mine
MINE
TOTAL GOLD SOLD (OUNCES) REALISED GOLD PRICE (US$ PER OUNCE)
MARCH 2023
QUARTER
JUNE 2023
QUARTER
SEPTEMBER
2023 QUARTER
CALENDAR YEAR
2023 TO DATE
MARCH 2023
QUARTER
JUNE 2023
QUARTER
SEPTEMBER
2023 QUARTER
CALENDAR YEAR
2023 TO DATE
Yaouré 67,578 76,720 65,197 209,495 1,800 1,930 1,949 1,894
Edikan 54,705 51,925 44,209 150,839 1,834 1,924 1,910 1,887
Sissingué 12,828 11,888 6,548 31,264 1,877 1,985 1,974 1,938
Group 135,111 140,533 115,954 391,598 1,821 1,933 1,936 1,895
Table 3: All-In Site Costs (AISC) and Notional Cash Flow by Mine
MINE
ALL-IN SITE COST (US$/OUNCE) NOTIONAL CASHFLOW FROM OPERATIONS (US$ MILLION)
MARCH 2023
QUARTER
JUNE 2023
QUARTER
SEPTEMBER
2023 QUARTER
CALENDAR YEAR
2023 TO DATE
MARCH 2023
QUARTER
JUNE 2023
QUARTER
SEPTEMBER
2023 QUARTER
CALENDAR YEAR
2023 TO DATE
Yaouré 803 771 677 748 65 84 93 242
Edikan 1,067 1,123 1,078 1,089 41 40 40 122
Sissingué 1,458 1,805 2,095 1,779 5 2 (1) 6
Group 971 1,007 937 972 111 127 132 370
NEWS RELEASE | SEPTEMBER 2023 QUARTER REPORT
PERSEUSMINING.COM
4
YAOURÉ GOLD MINE, CÔTE D’IVOIRE
Refer to Table 4 below for details of operating and financial parameters recorded at the Yaouré gold mine during the
September 2023 quarter and relevant prior periods.
During the quarter, Yaouré produced 73,737 ounces of gold at a production cost of US$568 per ounce and an AISC of US$677
per ounce making Yaouré one of the lowest cost pure (i.e. no metal credits applied to AISC) gold mines in the world. Perseus
sold 65,197 ounces of gold during the quarter at a weighted average sales price of US$1,949 per ounce, giving rise to a cash
margin of US$1,272 per ounce. Notional operating cashflow generated by Yaouré during the quarter was US$93 million, or
US$9 million more than in the June 2023 quarter.
The strong operating performance at Yaouré reflected a 4% improvement in the quantity of ore processed due to improved
mill runtime (96% compared to 90%) slightly offset by a slight drop in throughput rates (468 tph compared to 485 tph). A
small increase in the gold recovery rate to 93.1% from 92.4% also contributed while the head grade of processed ore
remained reasonably steady at 2.48 g/t gold compared to 2.54 g/t gold in the previous quarter.
It should be noted that the AISC at Yaouré is likely to rise above current levels in coming periods due to increases in the
quantity of material mined, fuel prices and increases in sustaining capital. While costs will increase, it is not expected that
they will exceed the guided cost range for the Half Year of US$850 to US$950 per ounce.
Table 4: Yaouré Quarterly Performance
PARAMETER UNIT MARCH 2023
QUARTER
JUNE 2023
QUARTER
JUNE 2023
HALF YEAR
SEPTEMBER 2023
QUARTER
CALENDAR 2023
YEAR TO DATE
Gold Production & Sales
Total material mined Tonnes 8,716,713 8,337,953 17,054,666 7,454,464 24,509,130
Total ore mined Tonnes 1,280,134 1,403,455 2,683,589 1,510,898 4,194,487
Average ore grade g/t gold 1.92 1.72 1.82 1.81 1.82
Strip ratio t:t 5.8 4.9 5.4 3.9 4.8
Ore milled Tonnes 962,200 955,355 1,917,555 993,073 2,910,628
Milled head grade g/t gold 2.26 2.54 2.40 2.48 2.43
Gold recovery % 92.4 92.4 92.4 93.1 92.6
Gold produced ounces 64,753 72,367 137,120 73,737 210,857
Gold sales1 ounces 67,578 76,720 144,298 65,197 209,495
Average sales price US$/ounce 1,800 1,930 1,869 1,949 1,894
Unit Production Costs
Mining cost US$/t mined 2.88 2.93 2.91 3.00 2.94
Processing cost US$/t milled 12.67 12.59 12.63 12.66 12.64
G & A cost US$M/month 2.18 2.39 2.28 2.30 2.29
All-In Site Cost
Production cost US$/ounce 677 603 638 568 613
Royalties US$/ounce 104 102 103 85 97
Sub-total US$/ounce 781 705 741 652 710
Sustaining capital US$/ounce 22 66 45 25 38
Total All-In Site Cost2 US$/ounce 803 771 786 677 748
Notional Cashflow from Operations
Cash Margin US$/ounce 998 1,159 1,083 1,272 1,146
Notional Cash Flow US$M 65 84 149 93 242
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 September 2023 quarter is US$4 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.
NEWS RELEASE | SEPTEMBER 2023 QUARTER REPORT
PERSEUSMINING.COM
5
MINERAL RESOURCE TO MILL RECONCILIATION
During the September 2023 quarter, Perseus processed 20% more ore tonnes at 8% lower grade for an overall increase of
10% in ounces compared to the Mineral Resource model. In the previous 6 and 12 months, Yaouré has produced 1% and
11% more metal respectively than the Mineral Resource model predicted. The performance of the Yaouré Mineral Resource
model to date is considered satisfactory although a close watching brief is being maintained.
The reconciliation of processed ore tonnes, grade and contained gold relative to the Yaouré Mineral Resource block model
are shown in Table 5.
Table 5: Yaouré Block Model to Mill Reconciliation
PARAMETER BLOCK MODEL TO MILL CORRELATION FACTOR
3 MONTHS 6 MONTHS 1 YEAR
Tonnes of Ore 1.20 1.14 1.22
Head Grade 0.92 0.89 0.91
Contained Gold 1.10 1.01 1.11
EDIKAN GOLD MINE, GHANA
Table 6 below summarises the key operating and financial parameters recorded at Edikan during the September 2023
quarter and relevant prior periods.
Edikan produced 48,497 ounces of gold at a production cost of US$905 per ounce and an AISC of US$1,078 per ounce in the
September quarter, with production slightly down from last quarter’s 50,232 ounces (at an AISC of $1,123 per ounce ).
Perseus sold 44,209 ounces at a weighted average realised gold price of US$1,910 per ounce, generating an average cash
margin of US$832 per ounce, that was 4% more than in the prior quarter. However, notwithstanding the higher cash margin,
due to the lower production, notional cashflow of US$40 million was the same as in the prior period.
Quarter on quarter, production KPIs were relatively steady. Processed ore head grade was slightly down (1.06 g/t gold
compared to 1.08 g/t gold), gold recovery rates marginally decreased (91.8% compared to 92.9%), throughput rates slightly
down (764 tph compared to 768 tph) and mill runtime (92% compared to 93%). Despite being marginally down, all KPIs
remained within acceptable tolerance ranges and are quite commendable, considering the unusually h eavy rainfall that
occurred during the quarter. A total of 501 mm (20 inches) of rain fell on the site during the quarter including 282 mm (11.3
inches) of rain in July alone. Pumping capacity was severely tested in July and did require some adjustments to mine
scheduling in order to keep the mill running at full capacity. This was achieved and by quarter end internal quarterly targets
had been exceeded.
Table 6: Edikan Quarterly Performance
PARAMETER UNIT MARCH 2023
QUARTER
JUNE 2023
QUARTER
JUNE 2023
HALF YEAR
SEPTEMBER 2023
QUARTER
CALENDAR 2023
YEAR TO DATE
Gold Production & Sales
Total material mined Tonnes 6,693,065 5,247,068 11,940,133 4,125,271 16,065,404
Total ore mined Tonnes 1,888,576 1,696,970 3,585,546 2,062,257 5,647,803
Average ore grade g/t gold 1.07 1.03 1.05 0.93 1.01
Strip ratio t:t 2.5 2.1 2.3 1.0 1.8
Ore milled Tonnes 1,671,960 1,566,231 3,238,191 1,554,128 4,792,319
Milled head grade g/t gold 1.09 1.08 1.09 1.06 1.07
Gold recovery % 91.8 92.9 92.3 91.8 92.1
Gold produced ounces 53,720 50,232 103,952 48,497 152,449
Gold sales1 ounces 54,705 51,925 106,630 44,209 150,839
Average sales price US$/ounce 1,834 1,924 1,878 1,910 1,887
Unit Production Costs
Mining cost US$/t mined 4.20 4.69 4.42 5.21 4.62
NEWS RELEASE | SEPTEMBER 2023 QUARTER REPORT
PERSEUSMINING.COM
6
PARAMETER UNIT MARCH 2023
QUARTER
JUNE 2023
QUARTER
JUNE 2023
HALF YEAR
SEPTEMBER 2023
QUARTER
CALENDAR 2023
YEAR TO DATE
Processing cost US$/t milled 9.87 10.39 10.12 11.27 10.49
G & A cost US$M/month 1.51 1.49 1.50 1.61 1.54
All-In Site Cost2
Production cost US$/ounce 916 903 910 905 908
Royalties US$/ounce 127 149 137 134 136
Sub-total US$/ounce 1,043 1,052 1,047 1,038 1,044
Sustaining capital US$/ounce 24 71 47 40 45
Total All-In Site Cost2 US$/ounce 1,067 1,123 1,094 1,078 1,089
Notional Cashflow from Operations1
Cash Margin US$/ounce 767 801 784 832 799
Notional Cash Flow US$M 41 40 81 40 122
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 September quarter is US$1 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
During the September 2023 quarter, grade control predicted slightly less tonnes (-3%), higher grade (+16%) and more ounces
(+12%) when compared to the Mineral Resource Estimate (MRE).
In terms of MRE to mill reconciliation, over the past six months, Edik an has recorded 16% more contained metal than
predicted by the MRE and over the past 12 months, contained gold was 10% more than that predicted by the MRE. Perseus
regards the overall outperformance of Edikan as being within normal industry standards.
Reconciliation of processed ore tonnes, grade and contained ounces relative to the Edikan Mineral Resource block model is
in Table 7 below.
Table 7: Edikan Block Model to Mill Reconciliation
PARAMETER BLOCK MODEL TO MILL CORRELATION FACTOR
3 MONTHS 6 MONTHS 1 YEAR
Tonnes of Ore 0.97 1.00 1.02
Head Grade 1.23 1.16 1.08
Contained Gold 1.18 1.16 1.10
SISSINGUÉ GOLD MINE, CÔTE D’IVOIRE
The Sissingué complex now involves mining and processing of ore from low-grade stockpiles, remnants of West Arm, Binkadi
and Bagoé pits on the Sissingué Mining Lease along with mining, trucking and processing ore from the satellite Fimbiasso
East and West pits on the Fimbiasso Mining Lease. Table 8 below summarises the key operating and financial parameters
recorded at the Sissingué gold mine complex during the September 2023 quarter and relevant prior periods.
During the quarter, Sissingué experienced especially heavy rainfall on site with more than 766 millimetres (31 inches) falling
during the period, including 327 mm (13 inches) of rain in August alone. This unusually heavy rainfall seriously impacted
mining and associated ore haulage operations.
As a result of the extremely wet conditions, gold production in the quarter was 25% lower than the previous quarter with a
total of 10,570 ounces of gold produced. This production performance was largely driven by an average head grade of
processed ore of 1.04g/t gold which was less than the grade processed last quarter (1.19g/t), and less than the grade of ore
from Fimbiasso that was due to be processed this quarter but was unavailable due to the wet conditions. The lower head
grade of processed ore also impacted gold recovery rates (90.5% compared to 93.0%). Throughput rates (184 tph compared
to 208tph) were also impacted by the wet conditions that prevailed. Mill runtime was reasonably steady at 86% compared
to 87% in the prior quarter.
NEWS RELEASE | SEPTEMBER 2023 QUARTER REPORT
PERSEUSMINING.COM
7
The average AISC of US$2,095 per ounce during the quarter was 16% higher than in the previous quarter, reflecting lower
gold production but also lower capital costs relative to the last quarter associated with establishing a haulage operation to
transport Fimbiasso ore back to the central processing facility. The weighted average sales price of the 6,548 ounces of gold
sold during the quarter was US$1,974 per ounce, giving rise to an average cash margin of negative US$121 per ounce.
Notional cash outflow by the mine during the quarter totalled US$1 million, US$3 million less than the US$2 million inflow
in the prior quarter.
Post quarter end, rainfall has eased at the Sissingué complex and operations have progressively returned to targeted levels.
As a result, gold production and cost guidance for Sissingué for the December 2023 Half Year remain unchanged although
gold production is likely to be close to the bottom end of the guided production range (27,500 to 32,500 ounces) and AISCs
towards the upper end of the guided cost range (US$1,700 to US$1,900 per ounce).
BAGOÉ MINING LEASE
Perseus has lodged all documentation required for assessment of its application for an Exploitation Permit for the Bagoé
Project with the Ivorian Department of Mines, Petroleum and Energy and this data is currently being assessed. Community
consultations with the three regions likely to be impacted by the Bagoé mining operation are now complete with no
objections being raised by any of the affected communities. The Exploitation Permit should be granted on completion of
various inter-departmental interactions and approval by the Council of Ministers in the December 2023 quarter, after which
a Mining Convention covering the operation will be negotiated. Construction of infrastructure required to support a mining
operation at Bagoé will commence as soon as possible following receipt of the Bagoé Mining Lease.
Table 8: Sissingué Quarterly Performance
PARAMETER UNIT MARCH 2023
QUARTER
JUNE 2023
QUARTER
JUNE 2023
HALF YEAR
SEPTEMBER 2023
QUARTER
CALENDAR 2023
YEAR TO DATE
Gold Production & Sales
Total material mined Tonnes 2,317,850 1,988,872 4,306,722 2,206,499 6,513,221
Total ore mined Tonnes 354,784 436,279 791,063 148,674 939,737
Average ore grade g/t gold 0.88 1.15 1.03 1.05 1.03
Strip ratio t:t 5.5 3.6 4.4 13.8 5.9
Ore milled Tonnes 468,679 394,727 863,406 348,373 1,211,779
Milled head grade g/t gold 0.85 1.19 1.01 1.04 1.02
Gold recovery % 91.6 93.0 92.4 90.5 91.8
Gold produced ounces 11,803 14,035 25,838 10,570 36,407
Gold sales1 ounces 12,828 11,888 24,716 6,548 31,264
Average sales price US$/ounce 1,877 1,985 1,929 1,974 1,938
Unit Production Costs
Mining cost US$/t mined 3.71 4.80 4.20 4.85 4.43
Processing cost US$/t milled 12.69 17.86 15.04 17.08 15.63
G & A cost US$M/month 1.46 1.76 1.61 1.49 1.57
All-In Site Cost 2,3
Production cost US$/ounce 1,276 1,558 1,431 1,999 1,597
Royalties US$/ounce 121 86 101 64 91
Sub-total US$/ounce 1,397 1,644 1,532 2,063 1,688
Sustaining capital US$/ounce 61 161 116 31 91
Total All-In Site Cost US$/ounce 1,458 1,805 1,647 2,095 1,779
Notional Cashflow from Operations 3
Cash Margin US$/ounce 419 180 281 (121) 159
Notional Cash Flow US$M 5 2 7 (1) 6
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 September quarter is US$3 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.
NEWS RELEASE | SEPTEMBER 2023 QUARTER REPORT
PERSEUSMINING.COM
8
3. Commercial production at Fimbiasso was declared 1 April 2023. A total of US$4.2 million of pre-commercial production operating costs have been
excluded from All-In-Site-Costs. Furthermore, the 269oz that were produced from Fimbiasso prior to the declaration of commercial production ha ve
been deducted from the oz produced figures in the calculation of All-In-Site-Costs, cash margin, and notional cash flows.
MINERAL RESOURCE TO MILL RECONCILIATION
During the September quarter, grade control results ha ve predicted additional tonnes (+10 4%) at higher grade (+18%)
resulting in a 141% increase in overall ounces when compared to the MRE for the combined Sissingué and Fimbiasso mineral
deposits. Over the past six and 12 -month periods, Sissingué has processed 27% and 16% more metal overall dur ing the
periods than estimated by the Mineral Resource model.
Grade control drilling at the Fimbiasso West Pit surpassed expectations by revealing a significant increase in ore quantities
compared to the predictions of the resource model. This unexpected discovery was due to the grade control drilling
intersecting the upper portion of the orebody at a higher elevation (approx. +10), than initially interpreted from the resource
model. The close space drilling used for grade control demonstrated the abilit y to delineate the ore, outperforming the
broad space exploration drilling for this purpose. This approach in drilling not only reaffirms the significance of precision,
but also highlights the nature of ore distribution within the geological setting.
At greater depths, the resource model and grade control model conform, enhancing our confidence in the accuracy of
geological modelling going forward. This reinforces the reliability of our understanding of subsurface geology.
The reconciliation of processed ore tonnes, grade and contained ounces of gold relative to the Sissingué Complex Mineral
Resource block models is in Table 9 below.
Table 9: Sissingué complex Block Model to Mill Reconciliation
PARAMETER BLOCK MODEL TO MILL CORRELATION FACTOR
3 MONTHS 6 MONTHS 1 YEAR
Tonnes of Ore 1.98 1.14 1.13
Head Grade 1.15 1.11 1.03
Contained Gold 2.27 1.27 1.16
GROUP GOLD PRODUCTION AND COST MARKET GUIDANCE
Group gold production and AISC for the December 2023 Half Year and the 2023 Calendar Year remain unchanged and are
as shown below in Table 10.
Table 10: Production and Cost Guidance
PARAMETER UNITS JUNE 2023 HALF YEAR
(ACTUAL)
DECEMBER 2023 HALF YEAR
(FORECAST)
2023 CALENDAR YEAR
(FORECAST)
Yaouré Gold Mine
Production Ounces 137,120 125,000 to 140,000 262,100 to 277,120
All-in Site Cost USD per ounce 786 850 to 950 818 to 864
Sissingué Gold Mine
Production Ounces 25,838 27,500 to 32,500 53,338 to 58,338
All-in Site Cost USD per ounce 1,647 1,700 to 1,900 1,677 to 1,777
Edikan Gold Mine
Production Ounces 103,952 90,000 to 100,000 193,952 to 203,952
All-in Site Cost USD per ounce 1,094 1,200 to 1,300 1,146 to 1,190
PERSEUS GROUP
Production Ounces 266,909 242,500 to 272,500 509,409 to 539,500
All-in Site Cost USD per ounce 989 1,080 to 1,190 1,035 to 1,085