Perseus Mining Delivers One other Spectacular Quarter By Investing.com

Perth, July 30, 2024 (GLOBE NEWSWIRE) — JUNE 2024 QUARTER REPORT

Perseus Mining delivers sturdy manufacturing & free cashflow leading to money and bullion of US$587 million after buying Nyanzaga

PERTH, Western Australia/ July 30, 2024/Perseus Mining Restricted (Perseus or the Firm) (TSX & ASX: PRU) reviews on its actions for the three months’ interval ended June 30, 2024 (the Quarter).

• Key working indicators and highlights for the June 2024 quarter (This autumn FY24) embody:

• Group 12-month rolling common TRIFR at 1.06, barely greater than within the March 2024 quarter (Q3 FY24) however nonetheless effectively beneath business common.
• In This autumn FY24, 120,929 ounces of gold have been produced at a weighted common All-in-Web site Price (AISC) of US$1,173 per ounce.
• Gold manufacturing for the June 2024 Half 12 months (H2 FY24) and the 2024 Monetary 12 months (FY24) of 248,400 ounces and 509,977 ounces, in contrast favourably to manufacturing steerage ranges of 226,000-254,000 ounces and 491,000 to 517,000 ounces respectively.
• AISC for H2 FY24 of $1,130 per ounce and FY24 of US$1,053 per ounce, have been beneath the underside of the H2 FY24 value steerage vary of US$1,180 to US$1,340 per ounce and in the course of the FY24 value steerage vary of US$1,000 to US$1,100 per ounce.
• Common gold gross sales in This autumn FY24 elevated 22.7% to 141,930oz. whereas common gross sales costs elevated 4.5% quarter on quarter to US$2,117 per ounce.
• Gold manufacturing and AISC steerage for the December 24 Half 12 months (H1 FY25) and Calendar 12 months 2024 (CY24) of 220,000 to 260,000 ounces at US$1,230 to US$1,330 per ounce and 468,400 ounces to 508,400 ounces at US$1,182 to US$1,223 per ounce respectively.
• A median money margin of US$944 per ounce was recorded in This autumn FY24 leading to notional working cashflow of US$117 million for the quarter and US$490 million for FY24.
• Perseus’s steadiness sheet on the finish of FY24 included accessible money and bullion of US$587 million, plus liquid, listed securities of US$42 million and nil debt, with US$300 million of undrawn debt capability accessible.
• An all money, off-market acquisition of ASX listed OreCorp Restricted was accomplished through the quarter, offering Perseus with additional development potential within the type of the big scale Nyanzaga Gold Mission in Tanzania.

Group Gold Manufacturing and Price Market Steering

Forecast group gold manufacturing and AISC for the December 2024 half 12 months (H1 FY25) and full 2024 calendar 12 months are proven within the desk beneath.

Manufacturing and Price Steering

The guidance provided above, reflects Perseus’s most recent Life of Mine Plans, taking into account, amongst other things, perceived cost inflation trends, and in the case of Yaouré, additional deferred waste stripping in the CMA pit, and the transition of mining activities into the Yaouré open p

Competent Person Statement

All production targets referred to in this release are underpinned by estimated Ore Reserves which have been prepared by competent persons in accordance with the requirements of the JORC Code.

Edikan

The information in this release that relates to the Open Pit and Underground Mineral Resources and Ore Reserve at Edikan was updated by the Company in a market announcement Perseus Mining updates Mineral Resources and Ore Reserves released on 24 August 2023. The Company confirms that all material assumptions underpinning those estimates and the production targets, or the forecast financial information derived therefrom, in that market release continue to apply and have not materially changed. The Company further confirms that material assumptions underpinning the estimates of Ore Reserves described in Technical Report ” Edikan Gold Mine, Ghana dated 7 April 2022 proceed to use.

Sissingué, Fimbiasso and Bagoé

The knowledge on this launch that pertains to the Mineral Sources and Ore Reserve on the Sissingué advanced was up to date by the Firm in a market announcement Perseus Mining updates Mineral Sources and Ore Reserves launched on 24 August 2023. The Firm confirms that each one materials assumptions underpinning these estimates and the manufacturing targets, or the forecast monetary info derived therefrom, in that market launch proceed to use and haven’t materially modified. The Firm additional confirms that materials assumptions underpinning the estimates of Ore Reserves described in Technical Report ” Sissingué Gold Mission, Côte d’Ivoire dated 29 Might 2015 proceed to use.

Yaouré

The knowledge on this launch that pertains to the Open Pit and Underground Mineral Sources and Ore Reserve at Yaouré was up to date by the Firm in a market announcement Perseus Mining pronounces Open Pit and Underground Ore Reserve replace at Yaouré launched on 23 August 2023. The Firm confirms that each one materials assumptions underpinning these estimates and the manufacturing targets, or the forecast monetary info derived therefrom, in that market launch proceed to use and haven’t materially modified. The Firm additional confirms that materials assumptions underpinning the estimates of Ore Reserves described in Technical Report ” Yaouré Gold Mission, Côte d’Ivoire dated 19 December 2023 proceed to use.

Nyanzaga Gold Mission  

ASX Itemizing Guidelines disclosure  
All info on the Nyanzaga Mineral Useful resource and Ore Reserve estimates has been extracted from the OreCorp ASX bulletins dated 12 September 2017 titled MRE Replace for the Nyanzaga Mission Rising Class and Grade, 5 Might 2022 titled DFS Completion and Kilimani Mineral Useful resource Estimate replace inside the Nyanzaga Particular Mining Licence “ Tanzania, and 22 August 2022 titled Nyanzaga DFS Delivers Strong Outcomes accessible on www.perseusmining.com. Perseus confirms that it isn’t conscious of any new info or information that materially have an effect on the data included within the authentic ASX bulletins and that each one materials assumptions and technical parameters underpinning the estimates within the ASX bulletins proceed to use and haven’t materially modified. Perseus confirms that the shape and context wherein the Competent Particular person’s findings are offered haven’t been materially modified from the unique ASX bulletins.  

Canadian Nationwide Instrument NI43-101 disclosure  
The knowledge on this launch referring to the Nyanzaga Gold Mission is extracted from the OreCorp ASX bulletins dated 12 September 2017 titled MRE Replace for the Nyanzaga Mission Rising Class and Grade, 5 Might 2022 titled DFS Completion and Kilimani Mineral Useful resource Estimate replace inside the Nyanzaga Particular Mining Licence “ Tanzania, and 22 August 2022 titled Nyanzaga DFS Delivers Strong Outcomes accessible on www.perseusmining.com. A Certified Particular person has not performed adequate work to categorise the Historic Estimates as present. As such, any Mineral Useful resource and Mineral Reserve estimates included on this part are Historic Estimates as outlined in Canadian Nationwide Instrument 43-101 and usually are not reported as present Perseus estimates. The OreCorp Feasibility Research contains key assumptions for commodity costs, gold mining and processing prices, and there have been no materials modifications in assumptions. The OreCorp Feasibility Research in its present kind is taken into account to be a complete compilation of all accessible information relevant to the estimation of Mineral Sources and Mineral Reserves. Reference is made to Perseus’s information launch dated 31 Might 2024 titled “Perseus progresses Nyanzaga Gold Project for further clarifying statements. Perseus confirms the applicability of these statements have not materially changed.  

Meyas Sand Gold Project

The information in this report that relates to the mineral resources and probable reserves of the Meyas Sand Gold Project was first reported by the Company in a market announcement Perseus Enters Into Agreement to Acquire Orca Gold Inc. released on 28 February 2022. The Company confirms it is not in possession of any new information or data relating to those estimates that materially impacts of the reliability of the estimate of the Company’s ability to verify the estimate as a mineral resource or ore reserve in accordance with Appendix 5A (JORC Code) and the information in that original market release continues to apply and have not materially changed. These estimates are prepared in accordance with Canadian National Instrument 43-101 standards and have not been reported in accordance with the JORC Code. A competent person has not done sufficient work to classify the resource in accordance with the JORC Code and it is uncertain that following evaluation and/or further exploration work that the estimate will be able to be reported as a mineral resource or ore reserve in accordance with the JORC Code. This release and all technical information regarding Orca’s NI 43-101 have been reviewed and approved by Adrian Ralph, a Qualified Person for the purposes of NI 43-101.

Caution Regarding Forward Looking Information:

This report contains forward-looking information which is based on the assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management of the Company believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Assumptions have been made by the Company regarding, among other things: the price of gold, continuing commercial production at the Yaouré Gold Mine, the Edikan Gold Mine and the Sissingué Gold Mine without any major disruption, the receipt of required governmental approvals, the accuracy of capital and operating cost estimates, the ability of the Company to operate in a safe, efficient and effective manner and the ability of the Company to obtain financing as and when required and on reasonable terms. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used by the Company. Although management believes that the assumptions made by the Company and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any anticipated future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, the actual market price of gold, the actual results of current exploration, the actual results of future exploration, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company’s publicly filed documents. The Company believes that the assumptions and expectations reflected in the forward-looking information are reasonable. Assumptions have been made regarding, among other things, the Company’s ability to carry on its exploration and development activities, the timely receipt of required approvals, the price of gold, the ability of the Company to operate in a safe, efficient and effective manner and the ability of the Company to obtain financing as and when required and on reasonable terms. Readers should not place undue reliance on forward-looking information. Perseus does not undertake to update forward-looking information, except in accordance with applicable securities laws.

• 240730 TSX Release_Quarterly Report FY24-Q4_Final

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