PERFORMANCE INDICATOR UNIT CALENDAR
2020 YEAR JUNE 2021 HALF YEAR 1 SEPTEMBER 2021 QUARTER DECEMBER 2021 QUARTER DECEMBER 2021 HALF YEAR CALENDAR 2021 YEAR1
Gold recovered Ounces 260,045 191,246 112,786 128,378 241,164 432,410
Gold poured Ounces 257,592 191,510 110,535 126,948 237,483 428,993
Production Cost US$/ounce 871 894 857 823 839 863
All-In Site Cost (AISC) US$/ounce 1,002 1,030 966 934 949 985
Gold sales Ounces 265,127 194,114 107,650 130,486 238,136 432,250
Average sales price US$/ounce 1,579 1,6421 1,655 1,669 1,663 1,653
Notional Cashflow US$ million 150.0 103.31 77.8 94.0 171.8 275.1
1
Notes: 1. Includes Yaouré cost and sales data from 31 March 2021 following declaration of Commercial Production.
• Key Operating highlights include:
– Gold production increased 14% quarter-on-quarter to 128,378 ounces or 66% year-on-year to 432,410 ounces.
– Weighted average AISCs decreased by 3% or US$32 quarter-on-quarter to US$934 per ounce or 5% year-onyear to US$985 per ounce.
– Gold production of 241,164 ounces and AISC of US$949 per ounce, comfortably achieved market guidance for the December Half Year of 225 - 255,000 ounces of gold at US$925 -1,025 per ounce.
– Quarterly gold sales increased by 21%, giving a 63% increase in year-on-year gold sales to 432,250 ounces.
– Average quarterly cash margin of US$735 per ounce of gold was US$46 more than prior quarter.
– Notional cashflow from operations increased by 21% quarter-on-quarter to US$ 94.0 million, and 84% yearon-year to $275.1 million.
– Operating performance consistently in line with ESG KPIs.
• Perseus’s strong operating performance is forecast to continue with production of 230,000 to 265,000 ounces at
an ASIC of US$915 to US$1,085 per ounce planned in the June 2022 Half Year, translating to 471,000 to 506,000 ounces at an ASIC of US$932 to US$1,020 per ounce for the full 2022 Financial Year.
• Business development activities continued to deliver encouraging results, demonstrating potential to materially increase Perseus’s Ore Reserves inventory and extend the economic mine lives of its operations:
– Exploration programmes on the Nkosuo prospect near Edikan and the CMA Underground prospect at Yaouré both returned excellent drill results, confirming the potential for strong organic growth of each mine.
– Assessment of inorganic growth opportunities continue to generate encouraging results.
• Perseus’s financial position continues to strengthen with available cash and bullion of US$212 million (A$292 million), debt of US$50 million (A$68 million), and net cash of US$162 million (A$269 million) at 31 December 2021, after returning US$13 million (A$18 million) of capital to shareholders, reducing debt by US$50 million (A$68 million) and investing US$11 million (A$15 million) in organic growth during the quarter.
NEWS RELEASE | DECEMBER 2021 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 128,378 ounces of gold in the December 2021 quarter, 14% more than in the prior quarter. The weighted average production cost at the operations was US$823 per ounce, while the weighted average AISC incurred
during the quarter was US$934 per ounce of gold. Production costs and AISC’s were 4% and 3% respectively, lower than comparative costs in the previous quarter.
This performance contributed to Half Yearly gold production at our three mines of 241,164 ounces of gold, produced at an average AISC of US$949 per ounce. This strong performance compared favourably to market guidance for the Half Year of 225,000 to 255,000 ounces of gold produced at an AISC of US$925 to 1,025 per ounce and has positioned Perseus to achieve our corporate objective of producing more than 500,000 ounces of gold at a margin of greater than US$400 per ounce in FY2022.
Table 1: Cost and Production Summary by Mine
see & read more on https://perseusmining.com/wp-content/uploads/2022/01/20220125-ASX-Release_Quarterly-Report-December-2021_Final.pdf |
