Perseus Mining Half Yr Outcomes

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Perth, Feb. 24, 2025 (GLOBE NEWSWIRE) — PERSEUS MINING’S HALF YEAR PROFIT UP 22% TO US$201M, NET CASH & BULLION UP US$117M TO US$704M

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Perth, Western Australia/ February 24, 2025/Mid-tier, gold producer, developer and explorer, Perseus Mining Restricted (ASX/TSX:PRU) is happy to report materials enhancements throughout all key monetary metrics together with income, EBITDA, revenue after tax, working money stream and internet money place in its Interim Monetary Report for the six months ending December 31, 2024 (H1 FY25).

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HIGHLIGHTS

• Income elevated to US$581.8 million, up 19% on prior corresponding interval
• EBITDA⁽¹⁾ up 26% to US$352.7 million on prior corresponding interval
• Revenue after Tax elevated to US$201 million up 22% on prior corresponding interval
• Working money stream elevated to US$248 million, up 17% on prior corresponding interval
• Complete belongings of US$2.1 billion; Web tangible belongings of US$1.3 billion or US$0.97 per share
• Web money and bullion of US$704 million up by US$117 million from June 30, 2024 steadiness
• Zero debt with US$300 million undrawn debt capability and US$67 million of marketable shares
• Interim dividend of Australian greenback (AUD) 2.5 cents per share declared, a 100% enhance on H1 FY24 interim return
• Perseus confirms market steering for FY25 of 469,000 to 504,000oz gold manufacturing at US$1,250 to US$1,280/oz AISC

Desk 1: Abstract of Monetary Efficiency for the six months ending December 31, 2024

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(1)   Gross revenue from operations earlier than depreciation and amortisation
(2)   Web money inflows from working actions
(3)   Calculated utilizing the weighted common excellent bizarre shares at 31 December 2024 of 1,375,822,145

COMMENTARY

In the course of the six months to December 31, 2024, Perseus continued to ship on its guarantees, sustaining its manufacturing ranges and reaching its market steering for each manufacturing and prices. Regardless of seeing a slight enhance in total prices resulting from inflationary pressures, Perseus has benefited from its sturdy hedging technique and bettering gold value setting ensuing within the Group’s common gross sales value growing at a proportionately better price than its manufacturing prices.

Gold manufacturing for the Group throughout the half yr totalled 253,709 ounces at an All-In Web site Price (together with manufacturing prices, royalties and sustaining capital) (AISC) of US$1,162 per ounce. This outcome included: 123,158 ounces produced at Yaouré at an AISC of US$1,124 per ounce; 33,917 ounces produced at Sissingué at an AISC of US$1,701 per ounce; and 96,634 ounces of gold produced at Edikan at an AISC of US$1,022per ounce.

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Gold gross sales by the Group throughout the half-year totalled 245,518 ounces at a mean gross sales value of US$2,350 per ounce. This outcome included: 115,345 ounces offered by Yaouré at a weighted common gross sales value of US$2,326 per ounce; 34,223 ounces offered by Sissingué at a weighted common gross sales value of US$2,264 per ounce; and 95,950 ounces offered by Edikan at a mean gross sales value of US$2,409 per ounce. In the course of the six months, the Group offered 2% much less gold, at a value that was roughly 20% greater than within the comparative interval in 2023.

The Group’s internet revenue after tax for the six-month interval ended 31 December 2024 was up 22% on the earlier corresponding interval to US$201.1 million (December 31, 2023: US$164.7 million), after bringing to account a overseas change achieve of US$10.3 million (31 December 2023: US$2.7 million loss). Gross revenue from operations for the interval ended 31 December 2024 was up 26% on the comparative interval to US$265.3 million (December 31, 2023: US$210.3 million). These will increase are largely attributable to a 19% enhance in income to $581.8 million (December 31, 2023: US$489.0 million), with solely a ten% enhance in price of gross sales. This outcome represents the continued sturdy contributions from Edikan and Yaouré, and improved profitability for Sissingué.

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The Group generated internet money from working actions for the half yr ended December 31, 2024 of US$247.6 million, up 17% on the comparative interval (December 31, 2023: US$211.2 million).

As at December 31, 2024, Perseus had money on-hand of US$628.5 million (June 30, 2024: US$536.9 million), and 29,078 ounces of gold bullion (June 30, 2024: 21,570 ounces) valued at US$76 million (June 30, 2024: US$50.3 million). Perseus additionally owns US$67 million of investments in listed securities. On the finish of the interval, the Group had internet belongings of US$1,878.3 million (June 30, 2024: US$1,780.0 million) and an extra of present belongings over present liabilities of US$659.7 million (June 30, 2024: US$544.1 million). The Group’s internet belongings elevated in contrast with the prior yr predominantly resulting from a rise in its money steadiness because of its sturdy working margin, in addition to a rise in its stock balances, resulting from a buildup of stockpiles.

Group Gold Manufacturing and Price Market Steering

Forecast group gold manufacturing and AISC for the June 2025 half yr (2H FY25) and full 2025 monetary yr (FY25) are proven within the desk under.

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Perseus’s CEO Jeff Quartermaine mentioned:

“With this outcome, Perseus has continued to cement its place as one of many extra worthwhile mid-tier gold producers on a worldwide scale, with its gold manufacturing of 253,709 ounces at an all-in website price of US$1,162 per ounce throughout the December 2024 Half Yr, translating to a robust efficiency throughout all key monetary metrics.

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Our after-tax earnings of US$201 million for the six-month interval was a superb outcome, as was our working cashflow of US$248 million for the interval. By December 31, 2024 Half Yr, our internet tangible belongings had elevated to US$1.34 billion together with money and bullion readily available of US$704 million, US$67 million of marketable securities, no debt however undrawn debt capability of US$300 million.

As well as, in recognition of the bettering monetary place of the Firm, we’ve got elevated our interim dividend to AUD 2.5 cents per share, whereas sustaining a balanced capital construction which permits us to proceed to reinforce the standard of our asset portfolio by means of future development.”

This market announcement was authorised for launch by the Board of Administrators of Perseus Mining Restricted.

IMPORTANT NOTICES

COMPETENT PERSON STATEMENT

All manufacturing targets referred to on this launch are underpinned by estimated Ore Reserves which have been ready by competent individuals in accordance with the necessities of the JORC Code.

Edikan

The knowledge on this launch that pertains to the Open Pit and Underground Mineral Assets and Ore Reserve at Edikan was up to date by the Firm in a market announcement “Perseus Mining updates Mineral Assets and Ore Reserves” launched on 21August 2024. 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 — Edikan Gold Mine, Ghana” dated 7 April 2022 proceed to use.

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Sissingué, Fimbiasso and Bagoé

The knowledge on this launch that pertains to the Mineral Assets and Ore Reserve on the Sissingué advanced was up to date by the Firm in a market announcement “Perseus Mining updates Mineral Assets and Ore Reserves” launched on 21 August 2024. 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 Undertaking, Côte d’Ivoire” dated 29 Could 2015 proceed to use.

Yaouré

The knowledge on this launch that pertains to the Open Pit and Underground Mineral Assets and Ore Reserve at Yaouré was up to date by the Firm in a market announcement “Perseus Mining updates Mineral Assets and Ore Reserves” launched on 21 August 2024. 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 Undertaking, Côte d’Ivoire” dated 19 December 2023 proceed to use.

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CAUTION REGARDING FORWARD LOOKING INFORMATION:

This report comprises forward-looking info which relies on the assumptions, estimates, evaluation and opinions of administration made in mild of its expertise and its notion of tendencies, present circumstances and anticipated developments, in addition to different elements that administration of the Firm believes to be related and affordable within the circumstances on the date that such statements are made, however which can show to be incorrect. Assumptions have been made by the Firm relating to, amongst different issues: the worth of gold, persevering with business manufacturing on the Yaouré Gold Mine, the Edikan Gold Mine and the Sissingué Gold Mine with none main disruption, the receipt of required governmental approvals, the accuracy of capital and working price estimates, the flexibility of the Firm to function in a protected, environment friendly and efficient method and the flexibility of the Firm to acquire financing as and when required and on affordable phrases. Readers are cautioned that the foregoing record isn’t exhaustive of all elements and assumptions which can have been utilized by the Firm. Though administration believes that the assumptions made by the Firm and the expectations represented by such info are affordable, there will be no assurance that the forward-looking info will show to be correct. Ahead-looking info entails identified and unknown dangers, uncertainties, and different elements which can trigger the precise outcomes, efficiency or achievements of the Firm to be materially completely different from any anticipated future outcomes, efficiency or achievements expressed or implied by such forward-looking info. Such elements embody, amongst others, the precise market value of gold, the precise outcomes of present exploration, the precise outcomes of future exploration, adjustments in mission parameters as plans proceed to be evaluated, in addition to these elements disclosed within the Firm’s publicly filed paperwork. The Firm believes that the assumptions and expectations mirrored within the forward-looking info are affordable. Assumptions have been made relating to, amongst different issues, the Firm’s skill to hold on its exploration and growth actions, the well timed receipt of required approvals, the worth of gold, the flexibility of the Firm to function in a protected, environment friendly and efficient method and the flexibility of the Firm to acquire financing as and when required and on affordable phrases. Readers mustn’t place undue reliance on forward-looking info. Perseus doesn’t undertake to replace forward-looking info, besides in accordance with relevant securities legal guidelines.

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