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C O M P A N Y
O V E R V I E W
Perseus Mining:
The Gold Standard in West A
As one of West Africa’s emerging gold producers, Perseus
shareholders and the ...
33
Africa
s has committed excellence to its
4
PERSEUS MINING
P
erseus Mining is a young and financially
successful gold producer operating
in Ghana and Côte d’Ivoire ...
M I N I N G
www.perseusmining.com 5
in inferred resources. For Fiscal 2014 (FY2014)
Edikan will produce gold in the range ...
BRINGING MORE
TO MINING
FEW MINING CONTRACTORS KNOW AFRICA
LIKE WE DO, OR HOW TO HELP YOU MINE MORE.
There are three thing...
PERSEUS MINING M I N I N G
www.perseusmining.com 7
and materials in the area. The company
is close to identifying a route ...
Exploratory drilling core sample
SUPPLIER
PROFILE
PERSEUS MINING M I N I N G
www.perseusmining.com 9
benefits in the form of increased throughput
rates and improved recover...
(+62) 61 685-0206 / 685-0207
(+62) 61 685-0208
www.growthsteel.com
enquiry@growthsteel.com
Phone:
Fax:
Website:
Email:
P.T...
PERSEUS MINING M I N I N G
www.perseusmining.com 1 1
2013 quarter. Analyst Cathy Moises put a target
price of $1.13/share ...
Allianz Ghana is a wholly owned subsidiary
of Allianz Group - headquartered in Munich
(Germany). We have assembled
profess...
PERSEUS MINING M I N I N G
www.perseusmining.com 1 3
portion is allocated towards the full company,
another percentage is ...
1 4
PERSEUS MINING
‘It is one of
Perseus’s
biggest
priorities to
maintain good
relationships
with their
community’
M I N I N G
www.perseusmining.com 1 5
has found the opposite to be true. The high
environmental standards, although expens...
1 6
PERSEUS MINING
400 dwellings when completed.
CEO and Managing Director Jeff Quartermaine
realises the community, mine ...
M I N I N G
www.perseusmining.com 1 7
to members of its host community by offering
scholarships for university-level educa...
PERSEUS MINING
Level 2, 437 Roberts Road, Subiaco,
Western Australia 6008
Tel. +61 8 6144 1700
Fax. +61 8 6144 1799
info@p...
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Top Gold Mines - The Perseus Mining Owned - Edikan Gold Mine, is an Emerging Gold Mine in West Africa..

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As one of West Africa’s emerging gold mines, Perseus has committed excellence to its shareholders and the surrounding community.

Perseus Mining is a young and financially successful gold mine operating in Ghana and Côte d'Ivoire in Africa. Headquartered in Perth, Australia, the company is listed in both the Australian and Toronto Stock Exchanges. As the stabilising initiatives of the 2014 fiscal year come to an end, Perseus is looking towards a bright future of growth and possible expansion.

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Transcript of "Top Gold Mines - The Perseus Mining Owned - Edikan Gold Mine, is an Emerging Gold Mine in West Africa.."

  1. 1. C O M P A N Y O V E R V I E W
  2. 2. Perseus Mining: The Gold Standard in West A As one of West Africa’s emerging gold producers, Perseus shareholders and the surrounding community Written by: Laura Close Produced by: James Hayes
  3. 3. 33 Africa s has committed excellence to its
  4. 4. 4 PERSEUS MINING P erseus Mining is a young and financially successful gold producer operating in Ghana and Côte d’Ivoire in Africa. Headquartered in Perth, Australia, the company is listed on both the Australian and Toronto stock exchanges. As the stabilising initiatives of the 2014 fiscal year come to an end, Perseus is looking towards a bright future of growth and potential expansion. Production at Edikan Perseus first produced gold at Ghana’s Edikan Gold Mine (EGM) in August 2011, and the site achieved commercial production in January 2012. Edikan has 5.7 million ounces in measured and indicated gold resources, including 2.9 million ounces in reserve, and 2.4 million ounces Perseus Mining corporate video Operations at the Côte d’Ivoire mine
  5. 5. M I N I N G www.perseusmining.com 5 in inferred resources. For Fiscal 2014 (FY2014) Edikan will produce gold in the range of 130,000 to 193,000 ounces of gold. EGM’s large reserve guarantees that mining and processing will last for at least a dozen years. Perseus has maintained production levels while the gold price is in a downward trend, and will look to increase production if the price improves, building on its already-strong revenue stream. Sissingué Project development Gold from Perseus’ Sissingué project in Côte d’Ivoire is a higher grade, but comes from a much smaller deposit than Edikan. Perseus is currently researching a less capital-intensive way to operate the Sissingué project; part of this plan includes looking into the metallurgy at the site Edikan Mine Gold production ‘Gold from Perseus’ Sissingué project in Côte d’Ivoire is a higher grade, but comes from a much smaller deposit than Edikan’
  6. 6. BRINGING MORE TO MINING FEW MINING CONTRACTORS KNOW AFRICA LIKE WE DO, OR HOW TO HELP YOU MINE MORE. There are three things you want in your surface mining contractor: flexibility, efficiency and safety. With African Mining Services you get all three. Outsource your mining operation to us you get a complete mining lifecycle service without having to finance or maintain a huge mining fleet. You get a company whose single focus is surface mining, who knows African mining conditions and how to mine productively in remote and difficult areas. Lastly, you get a contractor who has an enviable safety record because it takes the time to care and skill its workforce. Want more? Contact your nearest AMS office. GET TO KNOW US AT AMSGH.COM GHANA MALI BURKINA FASO GUINEE enquiries@amsgh.com SUPPLIER PROFILE
  7. 7. PERSEUS MINING M I N I N G www.perseusmining.com 7 and materials in the area. The company is close to identifying a route that will deliver a far better outcome than originally envisaged, and a plan to move forward with this route will be applied near the end of this year. Growth Continuous improvement strategies at Perseus have two broad forms: formal and informal business improvement programs. The formal programs are for identifying the larger, more discernible concerns or ideas that would affect large parts of the business or the company as a whole. Employees from the ground up are encouraged to recommend any ideas for the informal business improvement programs; these are small-scale improvements that can be made to day-to- day work. In Ghana, employees from all levels of the organisation have made many of the productive informal suggestions. If these informal programs require research or investigation, they are upgraded to formal programs. Currently, Perseus is looking to make improvements to the processing side of the business, including mechanical changes to how it processes ore. These changes will be responsible for significant AMS - African Mining Services Established in 1996, African Mining Services (AMS) is one of the largest contract mining companies in Africa. The company provides a complete range of surface contract mining services to resource companies across the region. Its roster includes full drilling and exploration, load and haul, drill and blast, and grade control. In 2010 AMS secured a mining contract from Perseus Mining for work on the Central Ashanti gold project in Ghana. The contract, which is projected to generate $300 million in revenue over five years, is for complete service including grade control, drilling and blasting, loading and hauling ore and waste and crusher feed. The project commenced in October of 2010 and is expected to be completed by September 2015. As parent company to AMS, Ausdrill Limited is an integrated mining and energy services group. The company provides an extensive array of global services including exploration, mine development, surfacing and underground mining, manufacturing, energy, and infrastructure services. Ausdrill is an ASX 200 company employing over 4,500 people in 19 specialist mining and energy businesses across nine countries. Servicing key African countries – Ghana, Mali, Burkina Faso, Cote D’Ivoire, Tanzania and Zambia. AMS is a wholly owned subsidiary of Ausdrill Limited.
  8. 8. Exploratory drilling core sample SUPPLIER PROFILE
  9. 9. PERSEUS MINING M I N I N G www.perseusmining.com 9 benefits in the form of increased throughput rates and improved recoveries. On the mining side, Perseus is looking into how it blast ore. The goal with this research is to improve how the ore breaks by a change in drill patterns, leading to a potentially easier mining process and better working conditions. With the gold price cycle down, F2014 has been a stabilising year for Perseus. The company has reduced costs by introducing cost-effective alternatives and improving efficiency. Plans for F2015 (which starts in July) include expanding the Sissingue project and increasing production levels at Edikan. Analysts’ outlooks Evans and Partners latest research report on Perseus shifted its rating from Neutral to Positive, as early production statistics for the March 2014 quarter showed promised and followed on from a strengthened performance in the December Employee training Performance improvement plan 1. Optimise Edikan Life of Mine Plan focussing on maximising cash margins and increasing NPV 2. Focus on process improvements at Edikan 3. Focus on reduction of costs across the company 4. Focus on efficiency of capital deployment
  10. 10. (+62) 61 685-0206 / 685-0207 (+62) 61 685-0208 www.growthsteel.com enquiry@growthsteel.com Phone: Fax: Website: Email: P.T. GROWTH ASIA Industry leader in supplying high quality wear resistant parts and customer service to the global market. JL. K.L. Yos Sudarso KM 10.5, Medan Industrial Estate Medan - 20242, North Sumatra, Indonesia GROWTH STEEL Grinding Mill Consulting Logistics Products Manufacturing Services People Grinding Mill Consulting Logistics Products Manufacturing SP SUPPLIER PROFILE SUPPLIER PROFILE
  11. 11. PERSEUS MINING M I N I N G www.perseusmining.com 1 1 2013 quarter. Analyst Cathy Moises put a target price of $1.13/share on Perseus, saying, “We see [Perseus] as a key recovery play in CY14 as plant problems appear largely resolved and the realisation of the revised mine plan at Edikan. Perseus is trading at less than half our current valuation; with a strong balance sheet and an eminently achievable business plan.” In its latest Gold Sector Review, Credit Suisse increased its target price for Perseus to $0.65/ share (from $0.64/sh) with an Outperform rating (previously Underperform). Employee training and incentives Intensive on-the-job training was an absolute necessity for Perseus coming into Africa. Fifty percent of the workforce is made up of locals from five different villages that surround the Edikan mine, and most had had no industry experience. Because of this, up to eight employees are solely involved in training the workforce. Although building and training a workforce from scratch takes a lot of investment and time, it was worth it. Perseus has had the opportunity not only to build a close relationship with the community, but also has been able to train its workers from the beginning. Perseus offers both short- and long-term incentive programs for its employees. The short-term programs are KPI (key performance indicator) based, and include extra funds for achieving or exceeding certain outcomes. A small FY-14-Q2 FY-13-Q4 FY-14-Q1 FY-13-Q3 FY-13-Q2 FY-13-Q1 FY-12-Q4 FY-12-Q3 FY-12-Q2 FY-12-Q1 Gold Recovery % Actual Budget 100 95 90 85 80 75 70 65 The company’s gold recovery production performance began to stabilise and improve through 2012 ‘In its latest Gold Sector Review, Credit Suisse increased its target price for Perseus to $0.65/share (from $0.64/sh) with an Outperform rating’
  12. 12. Allianz Ghana is a wholly owned subsidiary of Allianz Group - headquartered in Munich (Germany). We have assembled professional employees who are dedicated to our customers and ready to offer the best insurance advice and solutions. Allianz Insurance Company Ghana Limited No.18, North Airport Rd, Airport West Residential Area Address: PMB CT 353, Cantonment-ACCRA Email: allianz.ghana@allianz-ghana.com Tel: +233 302 764 893-94 Fax: +233 302 765 140 www.allianz-ghana.com • Mining • Building & Construction • Heavy Civils • Heavy Industries • Renewable Energy We are with you from A to Z allianz insurance www.dhl.com allianz insurance www.dhl.com SUPPLIER PROFILE SUPPLIER PROFILE
  13. 13. PERSEUS MINING M I N I N G www.perseusmining.com 1 3 portion is allocated towards the full company, another percentage is allocated to the Ghanaian business, yet another to individual departments, and another to individual performance. The long-term incentive program corresponds to company performance among a selection of its peers. If the total shareholders’ returns generated by the company are in the top 25 percent of a selected peer group of companies, then the rights to acquire shares at no cost are vested with that individual. This aligns with shareholders’ interests, so if Perseus is generating significantly better returns for its shareholders than other companies, the share prices are going to go up, and these rights will become more valuable. Contributions to the surrounding community People may think that the environmental standards in a developing country would not be as high as the rest of the world, but Perseus Edikan Total Rehabilitated to Natural (76.85 Ha or 10.47% of the Total Land Disturbed) Edikan Total Land Disturbed (733.77 Ha) Edikan Total Rehabilitated for Erosion Control (32.95 Ha or 4.49% of the Total Land Disturbed) Perseus continually reclaims and re-vegetates the land
  14. 14. 1 4 PERSEUS MINING ‘It is one of Perseus’s biggest priorities to maintain good relationships with their community’
  15. 15. M I N I N G www.perseusmining.com 1 5 has found the opposite to be true. The high environmental standards, although expensive and intensive to meet, are motivation for the company to better its social licence. To make sure it leaves the site better than Perseus found it, the company continually reclaims and re-vegetates the land where it can. It supports a large nursery which grows trees and grasses from seedlings to maturity. Another important environmental initiative includes monitoring ground water. As stated earlier, five surrounding villages supply around 50 percent of Perseus’s workforce. Some communities were relocated ahead of operations commencing at Edikan, with Perseus compensating those affected. Currently the company is building a subdivision that will include ‘CEO and Managing Director Jeff Quartermaine realises the community, mine and company are inextricably linked’ In the Edikan community Perseus runs several health and education programs
  16. 16. 1 6 PERSEUS MINING 400 dwellings when completed. CEO and Managing Director Jeff Quartermaine realises the community, mine and company are inextricably linked, and that Perseus’s presence and ability to operate in the area is only as good as the company’s social licence. Because of this, it is one of Perseus’s biggest priorities to maintain good relationships with its host community. Perseus has been responsible for several health and education programs in the community. The company has donated material supplies to primary schools, and has financed close to 100 scholarships to technical college students in the nearby city of Kumasi. Perseus is also considering extending its programme of educational support Edikan Mine ‘In the future, the company aims to become a multi- mine operator to provide multiple income streams and increase its stability in the region’
  17. 17. M I N I N G www.perseusmining.com 1 7 to members of its host community by offering scholarships for university-level education. Even though Perseus is a relatively young company, it is financially strong; the company has cash on board, no debt and a modest amount of hedging as a buffer against collapse in the price of gold. And while F2014 was about stabilising, F2015 will be about moving forward. In the future, the company aims to become a multi-mine operator to provide multiple income streams and increase its stability in the region. Perseus has a successful group doing grass roots exploration, so the path for growth will most likely lead towards an organic option, rather than an acquisition. Company Information I N D U S T RY Mining H E A D Q U A R T E R S Perth, Australia F O U N D E D 2011 E M P L O Y E E S 750 (1,000 contractors) R E V E N U E $293m P R O D U C T S / S E R V I C E S Gold Central Ashanti Gold Project (CAGP) Edikan Mine
  18. 18. PERSEUS MINING Level 2, 437 Roberts Road, Subiaco, Western Australia 6008 Tel. +61 8 6144 1700 Fax. +61 8 6144 1799 info@perseusmining.com www.perseusmining.com

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