• Key Operating highlights for Quarterly, Half Year and Calendar Year periods ending 31 December 2022 include:
PERFORMANCE INDICATOR UNIT DECEMBER 2022 QUARTER DECEMBER 2022 HALF YEAR CALENDAR 2022 YEAR
Gold recovered Ounces 130,911 268,371 521,221
Gold poured Ounces 130,992 270,545 523,598
Production Cost US$/ounce 881 820 827
All-In Site Cost (AISC) US$/ounce 983 930 941
Gold sales Ounces 203,154 261,921 504,862
Average sales price US$/ounce 1,748 1,724 1,714
Notional Cashflow US$ million 101 213 402
– Gold production in the December Half Year and 2022 Calendar Year exceeded respective production guidance
ranges of 240,000 to 265,0000 ounces and 492,850 to 517,850 ounces.
– AISCs in both the December Half Year and 2022 Calendar Year were below the cost guidance ranges of
US$1,000 to US$1,100 per ounce and US$980 to US$1,025 per ounce respectively.
– At 130,911 ounces, gold production for the December 2022 quarter achieved an annualised rate of nearly
525,000 ounces and was only slightly less than Perseus’s record gold production of 137,460 ounces achieved
in the September 2022 quarter.
– December 2022 quarter weighted average AISCs (US$983 per ounce) were 12% above the September 2022
quarter AISC due to overall reduced gold production at Sissingué and inflation.
– As forecast last quarter, quarterly gold sales increased by 144,387 ounces to 203,154 ounces; average
quarter-on-quarter gold sale price increased by 6% to US$1,748 per ounce.
– Average quarterly cash margin of US$765 per ounce of gold was in line with the prior quarter’s cash margin of
US$766 per ounce.
– Notional cashflow from operations of US$101 million in the quarter resulted in the full calendar year notional
cashflow total of US$402 million, 46% more than in the corresponding period.
– Perseus’s strong performance is forecast to continue in the June 2023 Half Year with gold production of
230,000 to 260,000 ounces at an ASIC of US$1,000 to US$1,200 per ounce.
– Perseus on track to produce 498,370 to 528,370 ounces at an ASIC of US$1,000 to US$1,100 per ounce for the
Financial Year ending 30 June 2023.
• Perseus further strengthened its financial position with available cash and bullion of US$405 million
(A$594 million), and no debt, at year end, an increase of US$76.2 million net cash this quarter and US$243 million
(A$325 million) or 150%, year-on-year.
• Front-End Engineering and Design, confirmatory and sterilisation drilling at the Meyas Sand Gold Project
(previously referred to as Block 14) in Sudan started during the quarter. Preparations underway for FID in Dec 2023 HY.

• Organic growth activities included feasibility-level studies at the MSGP and CMA Underground, work to increase
confidence in existing Mineral Resources, as well as generative exploration.
• Perseus published a comprehensive 2022 Sustainable Development Report, detailing its continually improving
sustainability performance, during the quarter.
• Total economic contribution to host countries?of Ghana, Côte d’Ivoire and Sudan was ~US$116 million
(approximately 33% 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 a total of 130,911 ounces of gold in the December 2022 quarter. The weighted average production cost at the
operations was US$881 per ounce, while the weighted average AISC incurred during the quarter was US$983 per
ounce of gold.
This performance, when combined with record gold production in the September 2022 quarter, gave rise to Half
Yearly gold production of 268,371 ounces of gold, produced at an average AISC of US$930 per ounce. This consistently
strong performance exceeded market production guidance for the December 2022 Half Year of 240,000 to 265,000
ounces of gold produced and bettered AISC guidance of US$1,000 to US$1,100 per ounce.
When combined with June 2022 Half Year production of 252,850 ounces at an AISC of US$955 per ounce, Perseus
delivered total production of 521,221 ounces of gold at an AISC of US$941 per ounce for the full 2022 Calendar Year.
In the December 2022 quarter, combined gold sales from all three operations totalled 203,154 ounces, including sales
of 93,634 ounces of bullion on hand at the end of the September quarter. The weighted average gold price realised
was US$1,748 per ounce, US$103 per ounce more than the September 2022 quarter price of US$1,645 per ounce.
Perseus’s average cash margin for the December 2022 quarter was US$765 per ounce, in line with the cash margin
achieved during the September 2022 quarter. Notional operating cashflow from operations was US$101 million,
US$11 million less than the September quarter, driven by slightly lower overall group gold production, combined with
higher AISCs at Sissingué and Yaouré.
These strong results, summarised below in Tables 1 and 2 below, confirm Perseus’s position as one of the world’s
better performing mid-tier gold producers in 2022.
Table 1: Cost and Production Summary by Mine
MINE
TOTAL GOLD PRODUCED (OUNCES)1 ALL-IN SITE COST (US$/OUNCE)
SEPTEMBER
2022 QUARTER
DECEMBER
2022 QUARTER
DECEMBER
2022 HALF
YEAR
2022
CALENDAR
YEAR
SEPTEMBER
2022 QUARTER
DECEMBER
2022 QUARTER
DECEMBER
2022 HALF
YEAR
2022
CALENDAR
YEAR
Yaouré 71,469 65,352 136,821 294,892 658 798 724 685
Edikan 52,127 53,850 105,977 173,235 1,060 1,058 1,059 1,253
Sissingué 13,864 11,709 25,573 53,094 1,336 1,672 1,490 1,349
Perseus
Group
137,460
130,911
268,371 521,221 879 983 930 941
Notes: 1. Gold recovered
Table 2: Realised Gold Price and Notional Cash Flow by Mine
MINE
REALISED GOLD PRICE (US$ PER OUNCE) NOTIONAL CASHFLOW FROM OPERATIONS (US$ MILLION)
SEPTEMBER 2022 QUARTER DECEMBER 2022 QUARTER DECEMBER 2022 HALF YEAR 2022 CALENDAR YEAR SEPTEMBER 2022 QUARTER DECEMBER 2022 QUARTER DECEMBER 2022 HALF YEAR 2022 CALENDAR YEAR
Yaouré 1,748 1,726 1,727 1,711 78 61 137 303
Edikan 1,626 1,754 1,692 1,706 30 38 67 78
Sissingué - 1,847 1,847 1,755 7
1 2 9 21
Perseus
Group 1,645 1,748 1,724 1,714 112 101 213 402
Notes:

see & read more on
https://wcsecure.weblink.com.au/pdf/PRU/02623370.pdf