• Key Operating highlights for the March 2023 quarter and the nine months ending 31 March 2023 include:
PERFORMANCE
INDICATOR UNIT SEPTEMBER 2022 QUARTER DECEMBER 2022 QUARTER
MARCH 2023 QUARTER FY 2023 TO DATE
Gold recovered Ounces 137,460 130,911 130,275 398,645
Gold poured Ounces 139,553 130,992 130,512 401,057
Production Cost US$/ounce 762 881 830 823
All-In Site Cost (AISC) US$/ounce 879 983 971 943
Gold sales Ounces 58,767 203,154 135,111 397,031
Average sales price US$/ounce 1,645 1,748 1,821 1,757
Cash margin US$/ounce 766 765 850 814
Notional Cashflow US$ million 112 101 111 324
– Gold production of 130,275 ounces was within 0.5% of December 2022 quarter production.
– US$971 per ounce weighted average AISC was 1.2% lower than the December 2022 quarter.
– Average sale price of gold sold (135,111 ounces) was US$1,821 per ounce, up 4% or US$73 per ounce compared
to December 2022 quarter.
– Average cash margin of US$850 per ounce of gold sold was 11% greater than in the prior quarter, reflecting both
an improved realised gold price and the AISC decrease.
– Notional cashflow from operations of US$111 million during the quarter, 10% more than last quarter (US$101
million).
– Perseus’s strong operating performance is forecast to continue in the June 2023 quarter with both gold
production and cost guidance for the 2023 June Half Year and Financial Year, expected to be achieved.
• Strong quarterly cashflows further strengthened Perseus’s financial position with available cash and bullion of
US$471 million, zero debt, net cash and bullion balance increased by US$66 million at quarter end.
• Perseus’s revolving corporate credit facility upsized to US$300 million during the quarter provides additional capacity
to fund its growth strategy while continuing to pay dividends to shareholders.
• Development activities continued at Meyas Sand Gold Project (MSGP) in Sudan, with confirmatory and sterilisation
drilling, Front-End Engineering and Design and site preparation, ahead of a possible FID during December 2023 Half
Year.
• Organic growth activities including Mineral Resource drill outs and feasibility studies for MSGP and Yaouré’s CMA
Underground Project progressed on schedule. Results due in the September 2023 quarter.
NEWS RELEASE | MARCH 2023 QUARTER REPORT
PERSEUSMINING.COM
• Perseus’s total economic contribution to its host countries?of Ghana, Côte d’Ivoire and Sudan was ~US$156 million
(approximately 63% of revenue) during the quarter.
OPERATIONS
PRODUCTION, COSTS AND NOTIONAL CASHFLOW
Perseus’s three operating gold mines, Yaouré and Sissingué in Côte d’Ivoire, and Edikan in Ghana combined to produce
130,275 ounces of gold in the March 2023 quarter. The weighted average production cost across all three operations was
US$830 per ounce, while the weighted average AISC incurred during the quarter was US$971 per ounce of gold.
In the March 2023 quarter, combined gold sales totalled 135,111 ounces. The weighted average gold price realised was
US$1,821 per ounce, US$73 per ounce more than the December 2022 quarter price of US$1,748 per ounce.
Perseus’s average cash margin for the March 2023 quarter was US$850 per ounce, 11% better than the cash margin
achieved during the December 2022 quarter. Notional operating cashflow from operations was US$111 million,
US$10 million more than the December quarter, driven by the improved gold price achieved and reduced AISC.
These strong results summarised below in Tables 1, 2 and 3 below, confirm Perseus’s position as one of the world’s better
performing mid-tier gold producers thus far in 2023.

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