Perseus Mining Limited: June 2021 Quarter Report

Subiaco, AUSTRALIA


Record quarter for Perseus

Half and Full Year gold production exceeds guidance

PERTH, Western Australia, July 20, 2021 (GLOBE NEWSWIRE) -- Perseus Mining Limited (“Perseus” or the “Company”) (TSX & ASX: PRU) reports on its activities for the three months’ period ended June 30, 2021 (the “Quarter”). The report with JORC tables is available for download from www.perseusmining.com and www.asx.com.au.

Executive Summary

  • Record quarterly gold production of 102,788 ounces, up 16% on the March 2021 quarter and up 50% on the December 2020 quarter.
  • Half year gold production of 191,246 ounces1 and FY2021 gold production of 328,632 ounces1, both exceeding the top end of their respective production guidance ranges.
  • Quarterly gold sales increased 23% to 106,899 ounces at an average realised gold price of US$1,652 per ounce, 1.5% more than the prior quarter.
  • Weighted average all-in site cost (AISC) was US$1,047 per ounce, US$48 more than in the last quarter2.
  • Notional cashflows from operations for the quarter totalled US$62.1 million, US$20.9 million or 51% more than in the March 2021 quarter.

Table 1: Operating and Financial Summary

Performance IndicatorUnitDecember
2020

Half Year
March
2021
Quarter
June
2021
Quarter
June
2021
Half Year
2021
Financial
Year
Gold recovered1Ounces137,38688,458102,788191,246328,632
Gold poured1Ounces133,71786,042105,468191,510325,227
Production Cost2US$/ounce868852 921 894883
All-In Site Cost (AISC)2US$/ounce1,000999 1,047 1,0301,016
Gold sales1Ounces127,08587,215 106,899 194,114321,199
Average sales price2US$/ounce1,6431,628 1,652 1,6421,642
Notional Cashflow2US$ million87.141.2 62.1 103.3190.4

Notes:
1. Includes Yaouré data from commencement of operations in December 2020 quarter.
2. Includes Yaouré data from declaration of Commercial Production on 31 March 2021.

  • Half year and financial year AISCs of US$1,030 and US$1,016 per ounce respectively, both positioned in the lower half of their respective cost guidance ranges.
  • Guidance for gold production and AISC for the December 2021 half year set at 225,000 to 255,000 ounces at a cost of US$925 to US$1,025 per ounce.
  • Perseus remains on track to achieve its goal of producing more than 500,000 ounces of gold per year at a cash operating margin of not less than US$400 per ounce in FY2022.
  • Available cash and bullion on hand of US$156.1 million and debt of US$100.0 million, giving a net cash position of US$56.1 million at quarter end, US$50.3 million more than at the end of last quarter.
  • Exploration programmes continued to generate encouraging results from prospects close to each operating mine, demonstrating potential to organically grow the Group’s inventory of Mineral Resources and Ore Reserves.

MINING OPERATIONS

GROUP PRODUCTION, COSTS AND NOTIONAL CASHFLOW

Perseus’s three operating gold mines, Edikan in Ghana, and Sissingué and Yaouré in Côte d’Ivoire, performed strongly in the June 2021 quarter, producing a combined total of 102,788 ounces of gold, 16% more than in the prior quarter (see Table 2 for a summary of cost and production by mine) and 50% more than in the December 2020 quarter.

For the Half Year to 30 June 2021, Group gold production totalled 191,246 ounces1 compared to production guidance for the same period of 175,000 to 190,0000 ounces while gold production during the Financial Year to 30 June 2021 totalled 328,6321 ounces compared to production guidance of 312,386 to 327,386 ounces. In both periods, gold production exceeded the top end of the guidance range.

Gold sales from all three operations totalled 106,899 ounces, 23% more than last quarter. The weighted average gold price2 realised from sales of gold was US$1,652 per ounce, 1.5% more than the price received in the March 2021 quarter.

The weighted average production costs2 at Yaouré, Sissingué and Edikan were US$921 per ounce, while AISCs of US$1,047 per ounce of gold were recorded during the quarter. These costs were 8% and 5% higher respectively than comparative costs incurred in the previous quarter.

Table 2: Cost and Production Summary by Mine

 Total Gold Produced (Ounces)All in Site Cost (US$/ounce)
MineDec 2020
Quarter
March 2021
Quarter
June 2021
Quarter
Dec 2020
Quarter
March 2021
Quarter
June 2021
Quarter
Edikan39,10540,82442,2211,2661,2021,217
Sissingué26,82225,53923,224701675676
Yaouré2,68722,09537,343--1,036
Perseus Group1,268,61488,458102,7881,036999 1,047

Perseus’s average cash margin for the quarter was US$605 per ounce, approximately US$24 per ounce less than that achieved during the March 2021 quarter. Notional operating cashflow from operations of US$62.1 million, was US$20.9 million or 51% more than that generated in the prior period, driven by the inclusion of notional cashflow from Yaouré following declaration of commercial production at the end of March 2021 and by quarter-on-quarter production growth of 16%.

Table 3 below summarises the quarterly realised gold price and cash flow across the operations.

Table 3: Realised Gold Price and Notional Cash Flow by Mine

 Realised Gold Price (US$ per ounce)Notional Cash Flow from Operations (US$ Million)
MineDec 2020
Quarter
March 2021
Quarter
June 2021
Quarter
Dec 2020
Quarter
March 2021
Quarter
June 2021
Quarter
Edikan1,6141,5741,62813.615.217.4
Sissingué1,7951,6931,63729.32620.5
Yaouré--1,684--                 24.2
Perseus Group1,21,6871,628 1,652 42.941.2 62.1

Total Recordable Injury Frequency Rates (TRIFR) at each producing mine up to the end of the June 2021 quarter were Edikan 1.49, Sissingué 1.37 and Yaouré 1.59. Sissingué and Yaouré performed better than their 2021 Financial Year TRIFR continuous improvement targets while Edikan fell short of its target. The Group maintained its record of zero fatalities across the business during the 2021 Financial Year.

Notes:
1. Includes Yaouré production data from commencement of operations in December 2020 quarter.
2. All costs and sales associated with gold produced at Yaouré in the December 2020 and March 2021 quarters are excluded from the Group’s reported combined AISC, sales price, cash margin and notional operating cash flow, as these were capitalised in accordance with IFRS, pending declaration of Commercial Production at Yaouré on 31 March 2021.

YAOURÉ GOLD MINE, CÔTE D’IVOIRE

Following declaration of commercial production at the end of the March 2021 quarter, operations at Yaouré have settled into a steady rhythm with most KPIs being regularly achieved or exceeded, delivering results that surpassed Half Year production and cost guidance to the market.

During the quarter, Yaouré produced 37,343 ounces of gold at a production cost of US$951 per ounce and an AISC of US$1,036 per ounce. The weighted average sales price of the 42,264 ounces of gold sold during the quarter was US$1,684 per ounce, giving rise to a cash margin of US$648 per ounce. Notional cashflow generated from the Yaouré operations amounted to US$24.2 million for the quarter.

As the quarter progressed, the availability of higher-grade fresh ore from the CMA pit increased and this material was progressively added to the blend of ore fed to the plant, displacing lower grade material drawn from decommissioned heap leach pads and low-grade oxide ore stockpiles.

On a half yearly basis, Yaouré produced 59,438 ounces of gold at a production cost of US$951 per ounce and an AISC of US$1,036 per ounce. This exceeded the previously announced market guidance of 48-52,000 ounces at an AISC of US$1,100-1,300 per ounce for the period. The weighted average sales price of the 54,182 ounces of gold sold during the Half Year was US$1,692 per ounce.

Table 4 below summarises the key performance statistics achieved at Yaouré during the quarter, half and financial year.

BACK UP POWER SUPPLY

As a result of nationwide power restrictions in Côte d’Ivoire imposed by power generating authorities, power draw at Yaouré during the quarter was periodically reduced, limiting process plant throughput rates. In response to these restrictions, an 18 MW standby diesel fired power station was acquired and installed during the quarter. Since the end of the quarter, the power station has been fully commissioned, eliminating the potential for future power shortages. In the coming quarter, a study will commence to investigate the potential for replacing the diesel fired generators with a longer-term power solution involving either the full or partial use of renewable energy sources including solar and or wind power.

MINERAL RESOURCE TO MILL RECONCILIATION

The reconciliation of processed ore tonnes, grade and contained gold relative to the Yaouré Mineral Resource block model during the quarter and for the seven months from commencement of ore processing in November 2020 are shown in Table 5. During the last 3 months, 20% more ore tonnes at 4% higher grade have been produced compared to the Mineral Resource model. Over the first seven months of operation, Yaouré has produced slightly more metal than predicted by the Mineral Resource model. The month of June 2021 was the first period in which most of the ore feed derived from newly mined open pit ore. Prior to this, most of the ore feed comprised material reclaimed from decommissioned heap leach pads built during from previous operations. The performance of the Yaouré Mineral Resource model to date is considered satisfactory.

Table 4: Yaouré Quarterly Performance

ParameterUnitDecember
2020
Half Year
March
2021
Quarter
June
2021
Quarter
June
2021
Half Year
2021
Financial
Year
Gold Production & Sales1     
Total material minedTonnes6,449,4408,816,6308,162,85816,979,48823,428,928
Total ore minedTonnes128,148163,476496,144659,620787,768
Average ore gradeg/t gold0.780.821.371.231.16
Strip ratiot:t49.352.915.4524.7428.74
Ore milledTonnes122,545624,827837,3501,462,1771,584,722
Milled head gradeg/t gold1.011.271.511.401.37
Gold recovery%67.786.892.0990.0188.74
Gold producedounces2,68722,09537,34359,43862,125
Gold sales3ounces011,91842,26454,18254,182
Average sales priceUS$/ounce01,7191,6841,6921,692
Unit Production Costs2     
Mining costUS$/t mined002.712.712.71
Processing costUS$/t milled009.909.909.90
G & A costUS$M/month001.701.701.70
All-In Site Cost2 --   
Production costUS$/ounce00951951951
RoyaltiesUS$/ounce00838383
Sub-totalUS$/ounce001,0331,0331,033
Sustaining capitalUS$/ounce00333
Total All-In Site Cost4US$/ounce001,0361,0361,036
Notional Cash Flow from Operations2--   
Cash MarginUS$/ounce00648648648
Notional Cash FlowUS$M0024.224.224.2

Notes:
1. Includes Yaouré data from commencement of operations in December 2020 quarter.
2. Includes Yaouré data from declaration of Commercial Production on 31 March 2021.
3. Gold sales are recognised in Perseus’ accounts when gold is delivered to the customer from Perseus’ metal account.
4. Included in the June quarter All-In Site Costs is US$5.28 million of costs relating to excess waste stripping. When reporting Cost of sales, in line with accepted practice under IFRS, this cost will be capitalised to the balance sheet and the costs amortised over the remainder of the relevant pit life.

    Table 5: Yaouré Block Model to Mill Reconciliation

Parameter

Block Model to Mill Correlation Factor
3 Months7 Months to Date
Tonnes of Ore1.201.00
Head Grade1.041.04
Contained Gold1.251.04

REVISED LIFE OF MINE PLAN

To coincide with the release of Perseus’s annual Ore Reserve and Mineral Resource Statement update during the September 2021 quarter, Perseus will also release an updated life of mine plan (LOMP) for Yaouré. This plan will not be materially different to previously released Yaouré LOMPs although it will reflect incremental additions to Yaouré’s Mineral Resources and Ore Reserves resulting from successful exploration programmes conducted during the financial year as well as incorporate operating costs based on current consumable supply contracts and workforce structure.

SISSINGUÉ GOLD MINE, CÔTE D’IVOIRE

On a half yearly basis, Sissingué produced 48,763 ounces of gold at a production cost of US$580 per ounce and an AISC of US$715 per ounce. This exceeded the previously announced market guidance of 39,500-43,000 ounces at an AISC of US$650-725 per ounce for the period. For the 2021 financial year, gold production totalled 104,672 ounces at an AISC of US$676 per ounce. This also compared very well to financial year market guidance of 95,409 – 98,909 ounces at US$646-677 per ounce. The weighted average sales price of the 55,519 ounces of gold sold during the half year was US$1,670 per ounce while the 102,635 ounces sold during the 2021 financial year were sold at a weighted average sales price of US$1,682 per ounce.

During the quarter, 23,224 ounces of gold were produced at Sissingué at a production cost of US$628 per ounce and an AISC of US$754 per ounce. The weighted average sales price of the 21,672 ounces of gold sold during the quarter was US$1,637 per ounce, giving rise to a cash margin of US$883 per ounce. Notional cashflow generated from the Sissingué operations amounted to US$20.5 million for the quarter, US$5.5 million less than in the prior quarter largely due to 12% higher AISC, lower realised gold price and a 9% decrease in the mine’s quarter-on-quarter gold production.

The total of 327,043 dry metric tonnes of ore milled during the quarter was 21% more than in the prior quarter, reflecting materially improved runtime of 95% during the quarter and a 10% increase in throughput rates. The improved quantity of material processed was however offset by two factors. At 91%, the gold recovery rate was lower than the rate of 94% achieved in the prior quarter reflecting the expected lower recovery of fresh ore. The impact of this decrease was compounded by a decrease in head grade of ore treated from 3.13g/t to 2.42g/t which was also expected as we moved out of a zone of particularly high-grade ore in the bottom of the stage 3 pit.

Unit production costs for the quarter at US$628 per ounce were 18% higher than in the prior period partially due to lower gold production. The rise in unit mining costs was largely a function of reduced tonnes mined, caused by weather and also deepening of the pit. The rise in unit processing costs was higher than expected given that tonnes of ore processed also increased. This was due to several factors including the USD:CFA exchange rate that caused an increase in power costs in USD terms, higher reagent consumption as ore types changed and also the timing of a mill reline that increased maintenance costs.

AISCs at US$754 per ounce were 12% higher than the AISC recorded in the prior period. As noted above, production costs were higher in the period, as were royalty costs however sustaining capital expenditure was lower, falling from US$40 per ounce to US$12 per ounce reflecting a reduction of work on raising the level of the tailings dam.

Table 6 below summarises the key performance statistics at Sissingué during the quarter as well as in prior periods.

MINERAL RESOURCE TO MILL RECONCILIATION

The reconciliation of processed ore tonnes, grade and contained ounces relative to the Sissingué Mineral Resource block model on which mine plans are based is shown in Table 7. During the last 3 months, 8% more ore tonnes at 5% higher grade have been produced compared to the Mineral Resource model. Over each of the last six and 12-month periods, Sissingué has produced more metal than predicted by the Mineral Resource model, primarily because of grade control outlining increased tonnages of ore. Perseus regards the outperformance as being within normal industry standards.

FEASIBILITY STUDY FOR DEVELOPMENT OF THE VÉRONIQUE, ANTOINETTE AND JULIETTE ORE DEPOSITS

Work advanced during the quarter on a Definitive Feasibility Study (DFS) of an operation involving mining ore from three satellite deposits located on the Bagoé exploration permit and trucking the ore back to the Sissingué plant for processing.

Work on the DFS is due to be completed at the end of July 2021, after which it will be lodged with the Ivorian Department of Mines, Petroleum and Energy along with an Environmental and Social Impact Assessment (ESIA) being prepared by local consultants (CECAF). These documents will form the basis of an application for an Exploitation Permit (EP) covering the Bagoé exploration permit area.

Table 6: Sissingué Quarterly Performance

ParameterUnitDecember
2020
Half Year
March
2021
Quarter
June
2020
Quarter
June
2021
Half Year
2021
Financial
Year
Gold Production & Sales     
Total material minedTonnes1,978,6501,047,159690,9771,738,1363,716,786
Total ore minedTonnes847,537515,902335,650851,5521,699,089
Average ore gradeg/t gold2.422.341.802.132.28
Strip ratiot:t1.31.01.11.01.2
Ore milledTonnes665,279269,373327,043596,4161,261,695
Milled head gradeg/t gold2.783.132.422.72.8
Gold recovery%94.293.791.492.693.4
Gold producedounces55,90925,53923,22448,763104,672
Gold sales1ounces47,11633,84721,67255,519102,635
Average sales priceUS$/ounce1,6951,6931,6371,6701,682
Unit Costs      
Mining costUS$/t mined5.785.407.306.206.00
Processing costUS$/t milled17.6718.6119.018.818.2
G & A costUS$M/month1.150.991.101.051.10
All-In Site Costs     
Production costUS$/ounce539533628580558
RoyaltiesUS$/ounce8610211410796
Sub-totalUS$/ounce625635742687654
Sustaining capitalUS$/ounce1840122822
Total All-In Site CostUS$/ounce643675754715676
Notional Cash Flow from Operations     
Cash MarginUS$/ounce1,0521,0188839561,006
Notional Cash FlowUS$M58.826.020.546.6105.3

Notes:
1. Gold sales are recognised in Perseus’ accounts when gold is delivered to the customer from Perseus’ metal account.

Table 7: Sissingué Block Model to Mill Reconciliation

Parameter

Block Model to Mill Correlation Factor
3 Months6 Months1 Year
Tonnes of Ore1.331.251.08
Head Grade0.980.930.97
Contained Gold1.311.161.07

EXPLOITATION LICENCE GRANTED FOR FIMBIASSO ORE DEPOSIT

In early July 2021, the Ivorian Council of Ministers and the President of the Republic of Côte d’Ivoire approved and executed a decree granting an EP covering the Fimbiasso gold deposit in the departments of Tengréla, Madinani and Kouto in Northern Côte d’Ivoire to one of Perseus’s subsidiary companies.

With the granting of the EP, detailed mine planning can now proceed with certainty. Following the completion of the DFS for the development of Véronique, Antoinette and Juliette satellite deposits referred to above, an updated LOMP combining activities on each of the Sissingué, Fimbiasso and Bagoé ore deposits will be completed. The target date for the public release of this revised LOMP, which is expected to extend the life of the Sissingué processing operation to at least FY2024 without further discovery of ore, is the end of the September 2021 quarter.

EDIKAN GOLD MINE, GHANA

During the half year to 30 June 2021, Edikan produced 83,045 ounces of gold at a production cost of US$1,054 per ounce and an AISC of US$1,213 per ounce. For the 2021 financial year, gold production totalled 161,835 ounces at an AISC of US$1,231 per ounce. The weighted average sales price of the 84,412 ounces of gold sold during the half year was US$1,602 per ounce while the 164,381 ounces sold during the full 2021 financial year were sold at a weighted average sales price of US$1,607 per ounce.

In the June 2021 quarter, Perseus produced 42,221 ounces of gold at Edikan (3% more than in the March quarter) at a production cost of US$1,057 per ounce and an AISC of US$1,217 per ounce. These costs were in line with comparable costs recorded in the prior period. Gold sales (42,962 ounces) were 4% more than in the prior quarter, at a weighted average realised gold price of US$1,628 per ounce. This generated a cash margin of US$411 per ounce, 10% more than in the March quarter and notional cashflow of US$17.4 million, 14% more than in the prior period.

During the quarter, Edikan processed ore from the AG and Fetish pits as well as from the ROM stockpiles. Runtime of the plant improved from 90% to 93%. Reflecting the properties of the mill feed, throughput rates increased by 1%, head grade was reasonably steady at 0.92 g/t and the average gold recovery rate for the quarter was steady at 85%. While these KPIs resulted in a 3% increase in gold production, both head grade and recovery rates were below expectations, due in part to a shortfall of available ore from the Fetish pit. This resulted in the addition to the feed blend of more lower grade ore from the ROM stockpiles than planned, to maintain throughput rates.  

As noted above, production costs for the quarter at US$1,057 per ounce were reasonably steady reflecting slightly higher unit mining costs and G&A costs, largely offset by lower unit processing costs. Unit mining costs at US$3.30 per tonne were 6% higher than in the prior period, but with 4% more tonnes mined this reflected a larger increase in the mining cost base due to equipment availability issues of contractors and an increase in the amount of grade control drilling required in the Fetish pit. Unit processing costs at $9.00 per tonne were 12% lower than the prior period, reflecting a 6% increase in tonnes of ore milled as well as lower maintenance costs and lower reagent usage during the quarter, offset slightly by higher power costs due to regular use of stand by generators to provide power to the processing facility. G&A costs at US$1.38 million per month were in line with costs incurred in the preceding quarter.

The quarterly AISC at US$1,217 per ounce was US$15.00 per ounce or 1% higher than the prior quarter. While higher production costs accounted for US$6 per ounce of the US$15 per ounce increase, a significant increase in sustaining capital (US$69 per ounce compared to US$30 per ounce) related to purchase of maintenance materials to be installed later in the year, partially offset by a decrease in royalties resulting from the timing of royalty payments, accounted for the remaining US$9 per ounce increase in AISC.

Table 8 below summarises the key performance statistics at Edikan during the quarter as well as in prior periods.

MINERAL RESOURCE TO MILL RECONCILIATION

Reconciliation of processed tonnes and grade of ore relative to the Mineral Resource block models for Edikan’s Fetish and AG pits indicated a continuation of the deteriorating performance of the Fetish Resource model recorded in prior periods. After infill drilling (1,122 metres in 9 RC holes) and updating of the geological interpretation, Perseus updated the Fetish Mineral Resource model during the quarter to more closely reflect the tonnes and grades located by grade control during the March quarter. The improved reconciliation figures shown in Table 9 for the three months period to 30 June reflect adoption of the new Resource model from the beginning of May 2021.

Table 9: Edikan Block Model to Mill Reconciliation

Parameter

Block Model to Mill Correlation Factor
3 Months6 Months12 months
Tonnes of Ore0.930.890.96
Head Grade0.850.860.90
Contained Gold0.800.760.87

Table 8: Edikan Quarterly Performance

ParameterUnitDecember
2020
Half Year
March
2021
Quarter
June
2020
Quarter
June
2021
Half Year
2021
Financial
Year
Gold Production & Sales     
Total material minedTonnes14,534,2827,266,0517,563,88414,829,93529,364,217
Total ore minedTonnes1,868,339887,6501,081,1331,968,7833,837,122
Average ore gradeg/t gold1.171.061.101.081.13
Strip ratiot:t6.87.26.006.56.7
Ore milledTonnes3,422,1491,595,4431,684,9923,280,4356,702,584
Milled head gradeg/t gold0.950.950.920.930.94
Gold recovery%75.285.185.085.079.9
Gold producedounces78,79040,82442,22183,045161,835
Gold sales1ounces79,96941,45042,96284,412164,381
Average sales priceUS$/ounce1,6121,5741,62816021607
Unit Costs      
Mining costUS$/t mined3.093.103.303.223.15
Processing costUS$/t milled9.5010.209.009.609.60
G & A costUS$M/month1.571.361.381.391.47
All-In Site Costs     
Production costUS$/ounce1,1021,0511,0571,0541,077
RoyaltiesUS$/ounce11112191106108
Sub-totalUS$/ounce1,2131,1721,1481,1601,185
Sustaining capitalUS$/ounce4030695345
Total All-In Site Cost2US$/ounce1,2531,2021,2171,2131,231
Notional Cash Flow from Operations     
Cash MarginUS$/ounce359372411389376
Notional Cash FlowUS$M28.315.217.432.360.9

Notes:
1. Gold sales are recognised in Perseus’ accounts when gold is delivered to the customer from Perseus’ metal account.
2. Included in the June quarter All-In Site Costs is US$6.77 million of costs relating to excess waste stripping. When reporting Cost of sales, in line with accepted practice under IFRS, this cost will be capitalised to the balance sheet and the costs amortised over the remainder of the relevant pit life

GROUP PRODUCTION AND COST GUIDANCE

Production and cost guidance for the December 2021 Half Year and the 2021 Calendar Year are summarised in Table 10.

Table 10: Production and Cost Guidance

ParameterUnitsJune 2021
Half Year
(Actual)
December 2021
Half Year
(Forecast)
2021
Calendar Year
(Forecast)
Yaouré Gold Mine   
ProductionOunces59,438130,000 – 140,000189,438 – 199,438
All-in Site CostUSD per ounce1,036675 – 775790 – 850
Sissingué Gold Mine   
ProductionOunces48,76325,000 – 35,00073,763 – 83,763
All-in Site CostUSD per ounce715950 – 1,070825 – 885
Edikan Gold Mine   
ProductionOunces83,04570,000 – 80,000153,046 – 163,046
All-in Site CostUSD per ounce1,2131,350 – 1,4501,270 – 1,330
PERSEUS GROUP    
ProductionOunces191,246225,000 255,000416,247 446,247
All-in Site CostUSD per ounce1,030925 1,025975 1,035

EXPLORATION

CÔTE D’IVOIRE EXPLORATION

YAOURÉ EXPLORATION & EXPLOITATION PERMITS

Exploration activities during the quarter on the Yaouré exploration and exploitation permits included air core (AC) drilling at Degbezere, and reverse circulation (RC) and diamond drilling (DD) at each of the CMA SW, CMA East, Kongonza and Govisou prospects (Appendix 1 – Figure 1.1).

At Degbezere, AC drilling on the Yaouré West exploitation permit was undertaken to follow up strong gold-in-auger anomalies, with 4,703 metres drilled in 91 holes. Scattered narrow gold hits were recorded related to structures developed primarily in basalts. Better intercepts are tabulated below in Table 11.

Table 11: Degbezere AC Drilling - Significant Intersections

BHIDFrom (m)To (m)Gold Intercept
YAC213344506m @ 1.29 g/t
YAC2162044m @ 1.03 g/t
YAC2297044m @ 1.81 g/t
YAC2352044m @ 2.07 g/t

Elsewhere on the Yaouré West exploration permit, augering commenced along the Degbezere NE trend, with 1,662 metres drilled in 156 holes. This work extends previous augering and covers a structural target identified in the 2D seismic line surveyed in 2020. Results remain pending.

Infill RC and DD drilling was completed at the CMA SW (previously South Extension) and Govisou prospects to better define mineralisation in these areas in preparation for estimation of Resources. At CMA SW, 139 RC holes were drilled for 8,255 metres. Drilling results were consistent with previous drilling, confirming consistent mineralisation over approximately 5-metre widths for a 750-metre strike length (Appendix 1 – Figures 1.2 and 1.3). The better intersections recorded are tabulated below in Table 12.

The drilling at Govisou followed up drilling previously reported in Perseus’s ASX release of 7 April 2021, that returned highly encouraging intercepts including YRC1574: 93m @ 2.74 g/t Au from 0m; YRC1596: 65m @ 2.73 g/t Au from 24m and 35m @ 3.49 g/t Au from 105m; YRC1457: 25m @ 3.33 g/t Au from 55m; and YRC1458: 52m @ 3.02 g/t Au from 28m. Drilling targeted the potential deeper extensions of the interpreted ruler-like mineralised zone, with 11 RC pre-collared DD holes and three RC holes drilled for 1,925 metres. Only partial results have been received for this drilling to date, with assays for the deeper and more prospective DD sections of most holes still pending.

Following processing and interpretation of data from the Yaouré 3D seismic program during the previous quarter, drilling commenced to test near-surface extensions of CMA look-alike structures in the hanging wall of the main CMA structure, now termed the CMA East prospect. By quarter end, Perseus had drilled 3,760 metres in 42 RC holes, with assays for these holes still pending.

In addition to the above, Perseus completed 2,104 metres in 22 RC holes plus a single 220 metre DD hole at the Kongonza prospect on the interpreted south-eastern extension of the CMA. Assays for these holes remain pending.

Complete results for the Yaouré drilling discussed above are presented in Appendix 1 – Table 1.1.

Table 12: CMA SW – Significant Intersections

BHIDFrom (m)To (m)Gold Intercept
YRC162918213m @ 1.61 g/t
YRC1631597011m @ 1.16 g/t
YRC163861643m @ 1.95 g/t
YRC163877858m @ 1.58 g/t
YRC164171776m @ 1.86 g/t
YRC164277847m @ 2.66 g/t
YRC164379878m @ 1.91 g/t
YRC164467703m @ 3.32 g/t
YRC164577858m @ 1.69 g/t
YRC164780844m @ 1.23 g/t
YRC164810166m @ 1.09 g/t
YRC164862708m @ 1.14 g/t
YRC1649577013m @ 1.31 g/t
YRC165060699m @ 2.53 g/t
YRC167274817m @ 1.77 g/t
YRC167363652m @ 2.94 g/t
YRC167472786m @ 1.24 g/t
YRC1675496213m @ 1.08 g/t
YRC167682886m @ 2.48 g/t
YRC167844473m @ 3.83 g/t

BAGOÉ EXPLORATION PERMIT

Perseus completed infill and extensional AC and RC drilling at the Veronique South and SE, Juliette, and Brigitte prospects on the Bagoé permit (Appendix 1 – Figures 1.4 and 1.5). A total of 6,448 metres was drilled in 82 AC and 56 RC holes. Assays for these holes remain pending.

Details for the Bagoé drilling are presented in Appendix 1 – Table 1.2.

SISSINGUÉ EXPLOITATION PERMIT

Exploration on the Sissingué Exploitation Permit during the quarter involved the completion of a three-hole deep diamond drilling program beneath the Sissingué Gold Mine (Appendix 1 – Figure 1.4), with SD0386 completed at 830 metres and SD0386 completed at 650 metres.

The deep diamond holes were designed to investigate possible extensions or repetitions of the main granite body hosting the bulk of mineralisation at Sissingué. Results from these three holes reported only weak mineralisation. Although narrow mineralised porphyry dykes were intersected in each hole, the hoped-for repetitions of the large granite bodies hosting the bulk of mineralisation at Sissingué were not present. Better intercepts are tabled below in Table 13.

Table 13: Sissingué Deeps – Significant Intersections

BHIDFrom (m)To (m)Gold Intercept
SD038627028313m @ 1.85 g/t
SD03874354394m @ 1.08 g/t
SD038748650115m @ 1.23 g/t

Results were received from AC drilling completed at the Gbeni (Tiana South) prospect last quarter. This drilling covered the southerly extensions of the Tiana and Cashew Farm zones where extensive artisanal surface workings are associated with small dioritic plugs. Single hits were recorded on three fences with highlights including 4m @ 1.38 g/t from 28m in GBAC0025 and 8m @ 4.21 g/t from 76m in GBAC0043.

Full details of the Sissingué Deeps and Gbeni drilling, including all assays, are provided in Appendix 1 - Table 1.3.

MINIGNAN EXPLORATION PERMIT

Elsewhere in Cote d’Ivoire, Perseus drilled 3,020 metres in 434 auger holes on its Minignan exploration permit located in north-western Côte d’Ivoire. This work followed up a 7km-long gold-in-soil anomaly identified along the regionally prospective Bafing Shear Zone where it extends through the permit. Assays from this work remain pending.

DRILLING, SAMPLING AND ASSAYING DETAILS FOR CÔTE D’IVOIRE EXPLORATION

YAOURÉ

Geology
The Yaouré project lies near the south-eastern flank of the Bouaflé greenstone belt in central Côte d’Ivoire. Mineralisation is hosted by Paleoproterozoic aged metabasalts and felsic intrusive rocks of the Birimian Supergroup. The rocks are metamorphosed to lower greenschist facies and only locally feature penetrative deformation fabrics. The CMA-SW and Kongonza prospects lie on interpreted segments of a major mineralised reverse fault system, the CMA thrust structure. The two prospects lie on its southern end where it bifurcates into SW and SE branches. The CMA SW structure strikes NE and dips at about 30 degrees toward the SE. Mineralisation comprises gold associated with pyrite in a quartz-albite-carbonate alteration assemblage in metabasalts. The mineralised structure is typically 6-8 metres true thickness. At Kongonza, gold is associated with quartz veining and silicification in a structure striking NNW and dipping at about 40 degrees east. At low gold grade thresholds (e.g. 0.2g/t) the Kongonza mineralisation is up to 70 metres true thickness but potentially economic grades are generally limited to 10-15 metre true thicknesses.

The Govisou prospect is underlain by andesitic basalts intruded by granodiorite bodies. Mineralisation occurs as disseminations of pyrite and arsenopyrite in the granodiorite and in quartz-carbonate veins in both the intrusive and basalts.

The CMA East drilling was designed to investigate CMA-like structures identified from a 3D seismic survey where these structures were interpreted to project to surface.

The Degbezere prospects are located along a major regional shear zone around 15-20km west of the CMA area. The geology there comprises mafic volcanics locally intruded by granodiorite bodies.

CMA mineralisation is associated with quartz-albite-carbonate veining in reverse fault structures that dip at 25 to 30 degrees to the east. The adjacent intrusive-hosted Yaouré deposit comprises mineralisation controlled by east-dipping structures, similar to CMA, in addition to mineralisation associated with quartz-tourmaline-chlorite-carbonate veining controlled by NE and NW striking, sub-vertical faults and also stockwork quartz veins with associated alteration selvages hosted by a granodiorite intrusive body.

No significant concentrations of other economic metals or deleterious metals occur with the mineralisation. Arsenopyrite and molybdenite occur in trace quantities.

Drilling Techniques
Exploration drilling described in this report included aircore (AC) drilling, reverse circulation (RC) and diamond core (DD) drill holes. Air core drilling (AC) used a 105mm face-sampling blade bit. Reverse Circulation drilling (RC) used a 135mm face sampling hammer.

Ground surveys of drill hole collars are presently incomplete. The locations provided in the announcement derive from a mixture of DGPS and hand-held GPS readings. The former are expected to be reliable to <1m in X-Y whilst the latter are expected to be reliable to +/- 2m in X-Y. Coordinates are stated in WGS84 Zone 30N UTM grid.

All RC and DD holes have been down-hole surveyed at approximately 30m depth increments using a Reflex digital compass instrument. Aircore holes were not down-hole surveyed.

Drill Coverage
Recent resource definition drilling at Govisou and CMA-SW has infilled drill spacing to nominal 40m x 20m or 20m x 20m in plan view.

Drill coverage on the earlier stage prospects such as CMA-East, Kongonza and Degbezere has been appropriate for the level of investigation – typically traverses 120-160m apart with holes drilled ‘heel-to-toe’ on 40m spacings. Most holes have been drilled at -55 to -60 degree dips.

CMA-SW and Kongonza mineralization dip at approximately 30 and 40 degrees respectively. In holes drilled at -60 degrees dip, true widths are approximately equal to down-hole intercept lengths.

The geometry of the Govisou mineralisation is not well understood and hence true widths are uncertain. The geometry of the scattered mineralisation intersected at Degbezere is not well understood and hence true widths are uncertain.

Sampling
Air core drill samples were collected at the drill site over 1m intervals, with each 1m spear sampled and the spear samples composited into 4m intervals to produce a subsample of 2.4 – 3kg for submission for assay.

RC drill samples were collected at drill sites over 1 metre intervals and split using multi-stage riffle splitters. Sample weights were nominally 3 kilograms. Sample recovery was measured by weighing bulk recovered samples. Samples were logged visually for recovery, moisture and contamination. The majority of RC samples were logged as dry and sample contamination in RC holes is not considered a significant risk to the reliability of resource estimates.

Diamond core was generally sawn in half using a diamond blade saw, with one half sent for assaying and the other half stored on site in core trays for reference. Samples were normally taken over 1 metre intervals (in some cases being adjusted for geology to shorter intervals). Core recoveries were measured and averaged in excess of 90%.

Reject RC samples have been retained at site in “sample farms” with all assay pulps retained at the relevant laboratory for 3 months before return to site for long term storage.

Sample Analytical Methods
The majority of sample preparation has been carried out on site in a dedicated sample preparation facility owned and operated by Perseus. Sample preparation typically comprised drying, crushing to -2 millimetres and pulverising of a 1.5 kg subsample. Internal laboratory checks required at least 85% of the pulp passing -75 microns. The pulverised product was then dumped on a rubber mat, rolled and approximately 300g selected by multiple dips of a spatula and packaged in a kraft paper packet.

Sample grind size was monitored by screening 1:100 samples. Duplicate field split samples were collected for each 1:20 samples. Duplicate pulp samples were created for each 1:20 samples.

The majority of samples have been assayed by 50g fire assay technique with AAS determination at independent commercial laboratories in Côte d’Ivoire, predominantly Bureau Veritas Laboratory in Abidjan and MSA Laboratory in Yamoussoukro.

A consistent regime of quality assurance has been employed including submission of duplicate pulp samples, coarse blanks and certified reference materials. The performances of blanks and standards were monitored as assay results were received. The commercial laboratory’s internal QAQC includes the use of certified reference materials and pulp replicates.

Sample Security
Chain of custody was managed by Perseus. Perseus employees retained custody of subsamples from drill sites through transport to the Yaouré sample preparation laboratory, through that facility and then transport of subsample pulps to the commercial laboratories in either Abidjan or Yamoussoukro.

BAGOÉ

Geology
The Bagoé Gold Project is located in the West African Craton and covers Palaeoproterozoic (Birimian) rocks of the southern extension of the Syama Greenstone Belt and the western margin of the Senoufo Greenstone Belt. Gold deposits at Bagoé are of the orogenic, greenstone-hosted type and probably lie within the Senoufo belt. The main prospect within the Bagoé project area is the Antoinette deposit (not covered in this release) which lies on a major NE trending shear zone within a mafic volcanic and metasediment sequence with intruded dioritic bodies.

The Juliette gold deposit is located 3.5km SW of Antoinette and is also hosted by the Antoinette sequence/structure. Mineralisation is subvertical, extends over about 300m strike and generally comprises a single lens 4-10m wide. Weathering extends to 30-40m depth.

The Brigitte prospect is located ~2-3km NE of Antoinette and is hosted by the extension of the Antoinette sequence/structure. Mineralisation is insufficiently understood at present to comment other than it appears to lie between mafic volcanics to the NW and mixed diorite and sediments to the SE. Weathering extends to 30-40m depth. Véronique gold deposit and its satellites are located 16km SSE of Antoinette. Mineralisation extends over 900m strike and generally comprises a single NW-striking quartz vein 1-2m thick that dips at 45 degrees to the SW. The vein is hosted by an extensive granodiorite stock. Alteration selvages extending 2-3m either side of the vein result, in places, in 6-8m true thickness of mineralisation. Weathering extends to 50-60m depth.

No significant concentrations of other economic metals or deleterious metals occur with the mineralisation. Arsenopyrite occurs in trace quantities.

Drilling Techniques
Exploration drilling described in this report included aircore (AC) drilling and reverse circulation (RC) drill holes. Air core drilling (AC) used a 105mm face-sampling blade bit. Reverse Circulation drilling (RC) used a 135mm face sampling hammer.

Ground surveys of drill hole collars are presently incomplete. The locations provided in the announcement derive from a mixture of DGPS and hand-held GPS readings. The former are expected to be reliable to <1m in X-Y whilst the latter are expected to be reliable to +/- 2m in X-Y. Coordinates are stated in WGS84 Zone 29N UTM grid.

All RC holes have been down-hole surveyed at approximately 30m depth increments using a Reflex digital compass instrument. Aircore holes were not down-hole surveyed.

Drill Coverage
Recent resource definition drilling at Véronique SE and Juliette has extended previous drilling on nominal 40 x 20m centres in plan view.

Drill coverage on the earlier stage prospects such as Brigitte and Véronique South has been appropriate for the level of investigation – typically traverses 120-160m apart with holes drilled ‘heel-to-toe’ on 40m spacings. Most holes have been drilled at -55 to -60 degree dips.

Veronique South and SE mineralization strikes NW and dips at approximately 45 degrees toward the SW. In holes drilled at -60 degrees dip toward 045 degrees azimuth, true widths are approximately equal to down-hole intercept lengths. Mineralisation at Juliette is essentially subvertical and hence for drill holes at -55 degrees true widths are approximately 70% of drilled widths. The geometry of the Brigitte mineralisation is not well understood and hence true widths are uncertain.

Sampling
Air core drill samples were collected at the drill site over 1m intervals, with each 1m spear sampled and the spear samples composited into 4m intervals to produce a subsample of 2.4 – 3kg for submission for assay.

RC drill samples were collected at drill sites over 1 metre intervals and split using multi-stage riffle splitters. Sample weights were nominally 3 kilograms. Sample recovery was measured by weighing bulk recovered samples. Samples were logged visually for recovery, moisture and contamination. The majority of RC samples were logged as dry and sample contamination in RC holes is not considered a significant risk to the reliability of resource estimates. Reject RC samples have been retained at site in “sample farms” with all assay pulps retained at the relevant laboratory for 3 months before return to site for long term storage.

Sample Analytical Methods
The majority of sample preparation has been carried out on site at Yaouré in a dedicated sample preparation facility owned and operated by Perseus. Sample preparation typically comprised drying, crushing to -2 millimetres and pulverising of a 1.5 kg subsample. Internal laboratory checks required at least 85% of the pulp passing -75 microns. The pulverised product was then dumped on a rubber mat, rolled and approximately 300g selected by multiple dips of a spatula and packaged in a kraft paper packet.

Sample grind size was monitored by screening 1:100 samples. Duplicate field split samples were collected for each 1:20 samples. Duplicate pulp samples were created for each 1:20 samples.

The majority of samples have been assayed by 50 g fire assay technique with AAS determination for gold only at independent commercial laboratories in Côte d’Ivoire, predominantly Bureau Veritas Laboratory in Abidjan and MSA Laboratory in Yamoussoukro.

A consistent regime of quality assurance has been employed including submission of duplicate pulp samples, coarse blanks and certified reference materials. The performances of blanks and standards were monitored as assay results were received. The commercial laboratory’s internal QAQC also includes the use of certified reference materials and pulp replicates.

Sample Security
Chain of custody was managed by Perseus. Perseus employees retained custody of subsamples from drill sites through transport to the Yaouré sample preparation laboratory, through that facility and then transport of subsample pulps to the commercial laboratories in either Abidjan or Yamoussoukro.

SISSINGUÉ

Geology
The Sissingué Gold Project is located in the West African Craton and covers Paleoproterozoic (Birimian) rocks of the central part of the Syama Greenstone Belt. Gold deposits at Sissingué are of the orogenic, greenstone-hosted type.

The Sissingué area is dominated by clastic basinal metasediments intruded by major felsic (granodioritic) and minor mafic intrusions.

Gold mineralisation at Sissingué occurs predominantly in quartz veins within dykes and plug-like granite intrusions that host strong quartz veining and sericite-carbonate + pyrite ± arsenopyrite alteration. These are intruded into metapelites and sandstones that are also strongly mineralised, particularly above the main intrusive plug(s).

Gold mineralisation at Gbeni is hosted by quartz-veined and variably altered metasediments, often in close proximity to ‘dioritic’ plugs. The latter do not appear to be mineralised.

No significant concentrations of other economic metals or deleterious metals occur with the mineralisation. Arsenopyrite occurs in trace quantities.

Drilling Techniques
Exploration drilling at Sissingué described in this report included aircore (AC) drilling and diamond core (DD) drill holes. Air core drilling (AC) used a 105mm face-sampling blade bit. Diamond drillholes were cored HQ from surface to around 200m depth, cased off and drilled NQ to final depth.

Ground surveys of drill hole collars are presently incomplete. The locations provided in the announcement derive from a mixture of DGPS (diamond holes) and hand-held GPS readings. The former are expected to be reliable to <1m in X-Y whilst the latter are expected to be reliable to +/- 2m in X-Y. Coordinates are stated in WGS84 Zone 29N grid.

DD holes were down-hole surveyed at approximately 30 depth increments using a Reflex digital compass instrument. Aircore holes were not down-hole surveyed.

Drill Coverage
The three diamond holes drilled beneath the Sissingué deposit were reconnaissance in nature and designed to test specific geological concepts at depth; consequently, drill holes were not located on a set spacing. The holes were drilled at -55 degrees dip and true widths are estimated to be around 70% of drilled widths.

Drill coverage on the early stage Gbeni prospect was appropriate for the level of investigation – typically single traverses across soil anomalies with holes drilled ‘heel-to-toe’ on 40m spacings. Most holes have been drilled at -55 degree dips. The geometry of the mineralisation is not well understood, and hence true widths are uncertain.

Sampling
Air core drill samples were collected at the drill site over 1m intervals, with each 1m spear sampled and the spear samples composited into 4m intervals to produce a subsample of 2.4 – 3kg for submission for assay.

Diamond core was generally sawn in half using a diamond blade saw, with one half sent for assaying and the other half stored on site in core trays for reference. Samples were normally taken over 1 metre intervals (in some cases being adjusted for geology to shorter intervals). Core recoveries were measured and averaged in excess of 90%.

All assay pulps are retained at the relevant laboratory for 3 months before return to site for long term storage.

Sample Analytical Methods
The majority of sample preparation has been carried out at Yaouré in a dedicated sample preparation facility owned and operated by Perseus. Sample preparation typically comprised drying, crushing to -2 millimetres and pulverising of a 1.5 kg subsample. Internal laboratory checks required at least 85% of the pulp passing -75 microns. The pulverised product was then dumped on a rubber mat, rolled and approximately 300g selected by multiple dips of a spatula and packaged in a kraft paper packet.

Sample grind size was monitored by screening 1:100 samples. Duplicate field split samples were collected for each 1:20 samples. Duplicate pulp samples were created for each 1:20 samples.

The majority of samples have been assayed by 50 g fire assay technique with AAS determination for gold only at independent commercial laboratories in Côte d’Ivoire, predominantly Bureau Veritas Laboratory in Abidjan.

A consistent regime of quality assurance has been employed including submission of duplicate pulp samples, coarse blanks and certified reference materials. The performances of blanks and standards were monitored as assay results were received. The commercial laboratory’s internal QAQC also includes the use of certified reference materials and pulp replicates.

Sample Security
Chain of custody was managed by Perseus. Perseus employees retained custody of subsamples from drill sites through transport to the Yaouré sample preparation laboratory, through that facility and then transport of subsample pulps to the Bureau Veritas laboratory in Abidjan.

GHANA

AGYAKUSU OPTION

Negotiations continued with the local community and farmers to allow first-pass RC and DD drilling over the Breman granite prospect. An agreement was reached late in the quarter with access and drill pad preparations commencing immediately thereafter. The first drill hole was collared on 1 July 2021 and subject to continued access to land, further drilling is planned for the September 2021 quarter.

AGYAKUSU-DML OPTION

Community sensitisation activities commenced ahead of an initial 10,000m AC program to test gold-in-soil anomalism along the main structural/intrusive corridor extending SW from the Breman prospect on the adjoining Agyakusu permit (Appendix A - Figure 4). AC drilling is expected to commence during the next quarter.

DOMENASE OPTION

Planned first-pass soil sampling covering the main structural/intrusive corridors on this property was delayed pending resolution of issues with the option agreement.

EXPLORATION EXPENDITURE

Expenditure on exploration activities throughout West Africa during the periods ending 30 June 2021 in outlined in Table 14 below.

Table 14: Group Exploration Expenditure June Quarter

RegionUnitsDecember
2020
Half Year
March
2021
Quarter
June
2021
Quarter
June
2021
Half Year
2021
Financial
Year
GhanaUS$ million1.830.460.390.852.68
Côte d’Ivoire      
SissinguéUS$ million1.781.862.554.416.19
YaouréUS$ million5.082.433.525.9511.03
RegionalUS$ million-0.050.120.070.190.14
Sub-totalUS$ million6.814.416.1410.5517.36
Total West AfricaUS$ million8.654.876.5311.4020.04

GROUP FINANCIAL POSITION

CASHFLOW AND BALANCE SHEET (UNAUDITED)

Perseus continues to strengthen its balance sheet and reports a US$50.3 million increase in its overall net cash position (i.e. cash & bullion less interest-bearing debt) relative to the prior quarter.

Based on the spot gold price of US$1,763 per ounce and a A$:US$ exchange rate of 0.7508 at 30 June 2021, the total value of cash and bullion on hand at the end of the quarter was A$207.9 million, (US$156.1 million) including cash of A$181.3 million (US$136.1 million) and 11,347 ounces of bullion on hand, valued at A$26.7 million (US$20.0 million).

During the quarter, outstanding corporate debt was reduced by US$30 million to US$100 million, resulting in the net cash and bullion balance of US$56.1 million. By comparison, at the end of the prior quarter, the cash and bullion balance amounted to US$135.8 million and with outstanding debt of US$130 million, the net cash and bullion balance stood at US$5.8 million, approximately US$50.3 million less than the current net balance.

The increase in net cash of US$50.3 million resulted from achieving consistent operating margins at Sissingué and Edikan, as well as the ramp up in production and operating cash flows from Yaouré, and reduced capital expenditure following the completion of the development of the mine. Notional cash inflows from Yaouré ramped up to US$24.2 million for the quarter, whilst inflows from Sissingué and Edikan remained reasonably steady contributing a further US$37.9 million.

The graph below (Figure 1) shows the notional operating cash flows from the three mines, the largest single driver of cash movement.

The overall movement in cash and bullion during the quarter as shown below in Figure 2 takes account of the positive notional operating margins from the Edikan (A$22.5 million), Sissingué (A$26.6 million), and Yaouré (A$31.4 million) operations, Australian and West African corporate costs (A$4.9 million), exploration (A$12.3 million), debt service (A$41.8 million – of which a principal repayment of US$30 million, or A$39.7 million), and other capex of (A$5.9 million).

Figure 1: Notional Operating Cashflow is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bf1012e1-0a16-4f87-acda-f45cf3a2eab9

Figure 2: Quarterly cash and bullion movements is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/726beebc-ff6f-4350-9149-2b8ef4b92874

GOLD PRICE HEDGING

At the end of the quarter, Perseus held gold forward sales contracts for 210,313 ounces of gold at a weighted average sales price of US$1,564 per ounce. These hedges are designated for delivery progressively over the period up to 30 September 2022. Perseus also held spot deferred sales contracts for a further 90,441 ounces of gold at a weighted average sales price of US$1,668 per ounce. Combining both sets of sales contracts, Perseus’s total hedged position at the end of the quarter was 300,754 ounces at a weighted average sales price of US$1,595 per ounce.

Perseus’s hedge position has decreased by 11,353 ounces since the end of the March 2021 quarter. As a result of our policy of replacing lower priced hedges with higher priced hedge contracts when possible, the weighted average sales price of the hedge book increased by US$43 per ounce or 2.8% during the quarter.

Hedging contracts currently provide downside price protection to approximately 20% of Perseus’s currently forecast gold production for the next three years, leaving 80% of forecast production potentially exposed to movements (both up and down) in the gold price.

SUSTAINABILITY (UNAUDITED)

In financial year 2021, Perseus continued to perform strongly against its social and environmental objectives and targets.

Performance highlights from the financial year 2021 were:

  • Continued to maintain safe, stable operations whilst managing the impacts of the COVID-19 virus, and supporting our communities through the pandemic;
  • Board gender diversity is now at 33% with the appointment of Ms Amber Banfield as a Non-Executive Director in May 2021. Executive Level Diversity (reporting to the CEO) is 40%;
  • Economic contribution to our host countries of US$428 million (greater than 80% of revenue), including ~US$323 million to local suppliers, US$52 million for local salaries, wages and associated taxes, US$51 million in payments to government in taxes, royalties and other payments, and US$2 million in social investment;
  • Local and national employment and procurement 96% and 81% respectively; and   
  • Zero significant environmental events or tailings dam integrity issues.

Sustainability challenges during the 2021 financial year included:

  • Whilst Sissingué and Yaouré performed strongly against their continuous improvement TRIFR targets, targets were not achieved at Edikan or at Group level.
  • Community unrest was experienced at Sissingué in January 2021 caused by a misunderstanding by a small group of residents in a local village on the distribution of community benefits by the mine. This misunderstanding was resolved through enhanced engagement with the village leadership including representatives of the “youth” group and re-focus of the projects undertaken under the Sissingué Community Development Fund.
  • Illegal mining activities on Perseus’s mining and exploration licence areas also presented challenges for the Company at both the Edikan and Yaouré mines.

Perseus’s Sustainable Development Report for the financial year ended 30 June 2021 will provide full details of the Company’s environmental and social performance during this period and will be published around the same time as our Annual Report early in the December 2021 quarter.

PLANNED ANNOUNCEMENTS FOR SEPTEMBER 2021 QUARTER

  1. Yaouré Life of Mine Plan Update – August 2021
  2. Reserve & Resource Update – August 2021
  3. Bagoé Feasibility Study – August 2021
  4. FY21 Financial Statements – August 2021
  5. Sissingué Life of Mine Update – September 2021

This market announcement was authorised for release by the Board

DATE OF RELEASE: 21 JULY 2021

ASX/TSX code: PRU

Capital structure as at 20 July 2021
Ordinary shares: 1,226,969,570
Performance rights: 23,428,673

REGISTERED OFFICE:

Level 2
437 Roberts Road
Subiaco WA 6008

Telephone: +61 8 6144 1700
Email: IR@perseusmining.com

Website: www.perseusmining.com
DIRECTORS:

Mr Sean Harvey
Non-Executive Chairman

Mr Jeff Quartermaine
Managing Director & CEO

Ms Amber Banfield

Non-Executive Director

Ms Elissa Brown
Non-Executive Director

Mr Dan Lougher
Non-Executive Director

Mr John McGloin
Non-Executive Director

Mr David Ransom
Non-Executive Director
CONTACTS:

Jeff Quartermaine

Managing Director & CEO
jeff.quartermaine@perseusmining.com

Claire Hall

Corporate Communications
claire.hall@perseusmining.com

Nathan Ryan

Media Relations
+61 4 20 582 887
nathan.ryan@nwrcommunications.com.au

Competent Person Statement:
All production targets for Edikan, Sissingué and Yaouré referred to in this report are underpinned by estimated Ore Reserves which have been prepared by competent persons in accordance with the requirements of the JORC Code. The information in this report that relates to Esuajah North Mineral Resources estimate was first reported by the Company in compliance with the JORC Code 2012 and NI43-101 in a market announcement entitled “Perseus Mining Updates Mineral Resources & Ore Reserves” released on 29 August 2018.  The information in this report that relates to the Mineral Resource and Ore Reserve estimates for the Bokitsi South and AFG Gap deposits at the EGM was first reported by the Company in compliance with the JORC Code 2012 and NI43-101 in a market announcement released on 26 August 2020. The information in this report that relates to the Mineral Resource and Ore Reserve estimates for the other EGM deposits (Fetish and Esuajah South Underground) was first reported by the Company in compliance with the JORC Code 2012 and NI43-101 in a market announcement released on 20 February 2020 and was updated for depletion until 30 June 2020 in a market announcement released on 26 August 2020. The Company confirms that it is not aware of any new information or data that materially affect the information in those market releases and that all material assumptions underpinning those estimates and the production targets, or the forecast financial information derived therefrom, 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 — Central Ashanti Gold Project, Ghana” dated 30 May 2011 continue to apply.

The information in this report that relates to Mineral Resources and Ore Reserves for Sissingué was first reported by the Company in compliance with the JORC Code 2012 and NI43-101 in a market announcement released on 29 October 2018 and includes an update for depletion as at 30 June 2020.The information in this report that relates to Mineral Resources and Ore Reserves for the Fimbiasso East and West deposits, previously Bélé East and West respectively, was first reported by the Company in compliance with the JORC Code 2012 and NI43-101 in a market announcement released on 26 August 2020. The Company confirms that material assumptions underpinning the estimates of Mineral Resources and Ore Reserves described in those market announcements. The Company confirms that it is not aware of any new information or data that materially affect the information in these market releases and that all material assumptions underpinning those estimates and the production targets, or the forecast financial information derived therefrom, 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 — Sissingué Gold Project, Côte d’Ivoire” dated 29 May 2015 continue to apply.

The information in this report in relation to Yaouré Mineral Resource and Ore Reserve estimates was first reported by the Company in compliance with the JORC Code 2012 and NI43-101 in a market announcement on 28 August 2019. 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 — Yaouré Gold Project, Côte d’Ivoire” dated 18 December 2017 continue to apply.

The information in this report and the attachments that relates to exploration drilling results is based on, and fairly represents, information and supporting documentation prepared by Dr Douglas Jones, a Competent Person who is a Chartered Professional Geologist.  Dr Jones is the Group General Manager Exploration of the Company.  Dr Jones has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’”) and to qualify as a “Qualified Person” under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).  Dr Jones consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

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 due to the COVID-19 pandemic or otherwise, 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 any forward-looking information, except in accordance with applicable securities laws.

APPENDIX 1

Figure 1.1: Yaouré Gold Project – Exploration Targets June 2021 Quarter is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/894cd79c-107f-4ee0-bd45-a7122ba302d0

Figure 1.2: Yaouré Gold Project – CMA SW Prospect June Quarter Results is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4c28d123-197b-4ee7-b518-5ef5d45c3f1c

Figure 1.3: Yaouré Gold Project – CMA SW Cross Section is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/46ac9140-e8a9-489d-857a-a9235c6c17be

Figure 1.4: Sissingué Gold Project - Regional Geology, Permits and Prospects is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/447be7cd-d3a3-41eb-a339-503c128bc655

Figure 1.5: Bagoé Gold Project – Main Prospects is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a8545248-b243-46c1-8777-20f0fc18face

Figure 1.6: Edikan Gold Project – Regional Geology, Tenements and Prospects is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a4063874-f088-486b-a83d-b11834ff9e51

Table 1.1: Yaouré drill holes and significant assays

Hole IDEast
(mE)
North
(mN)
Drill TypeAzimuth
(°)
Dip
(°)
Depth
(m)
No of samplesFrom
(m)
To
(m)
Width
(m)
Grade
(g/t)
Degbezere           
YAC2076207229771601AC270-6050NSI    
YAC2077207195771590AC270-6050NSI    
YAC2078207170771590AC270-6050NSI    
YAC2079207145771596AC270-6050NSI    
YAC2080207120771596AC270-6050NSI    
YAC2081207095771607AC270-6052NSI    
YAC2082207069771605AC270-6050NSI    
YAC2083207044771605AC270-6050NSI    
YAC2084207019771605AC270-6058NSI    
YAC2085206990771598AC270-6050NSI    
YAC2086206965771600AC270-6050NSI    
YAC2087206940771600AC270-6054NSI    
YAC2088206913771600AC270-6052NSI    
YAC2089206887771600AC270-6050NSI    
YAC2090206862771607AC270-6050NSI    
YAC2091206837771613AC270-6050NSI    
YAC2092206812771623AC270-6050NSI    
YAC2093206787771632AC270-6050NSI    
YAC2094206762771631AC270-6050NSI    
YAC2095206737771611AC270-6052NSI    
YAC2096206711771581AC270-6050NSI    
YAC2097206686771568AC270-6050NSI    
YAC2098206661771565AC270-6050NSI    
YAC2099206636771557AC270-6050NSI    
YAC2100206611771563AC270-6050NSI    
YAC2101206586771575AC270-6050NSI    
YAC2102206561771590AC270-6051NSI    
YAC2103206536771592AC270-6050NSI    
YAC2104206511771598AC270-6050NSI    
YAC2105206486771602AC270-6050NSI    
YAC2106206472771603AC270-6050NSI    
YAC2107206436771605AC270-6050NSI    
YAC2108206411771609AC270-6050NSI    
YAC2109206386771607AC270-6050NSI    
YAC2110206361771607AC270-6052NSI    
YAC2111206336771607AC270-6050NSI    
YAC2112206311771603AC270-6050NSI    
YAC2113206286771597AC270-6050NSI    
YAC2114206261771595AC270-6052NSI    
YAC2115206235771594AC270-6050NSI    
YAC2116206210771603AC270-6050NSI    
YAC2117206185771606AC270-6050NSI    
YAC2118206160771605AC270-6047NSI    
YAC2119206135771602AC270-6049NSI    
YAC2120206110771602AC270-6050NSI    
YAC2121206085771605AC270-6048NSI    
YAC2122206061771602AC270-6054NSI    
YAC2123206033771601AC270-6050NSI    
YAC2124206009774603AC270-6050NSI    
YAC2125205984771601AC270-6050NSI    
YAC2126205959771595AC270-6050NSI    
YAC2127205934771593AC270-60501121640.56
YAC2128205909771597AC270-6050NSI    
YAC2129205884771601AC270-6052NSI    
YAC2130205858771604AC270-6050NSI    
YAC2131205833771601AC270-605034050100.3
YAC2132205808771603AC270-60501202440.23
YAC2132205808771603AC270-60501364040.22
YAC2133205783771604AC270-60502445061.29
YAC2134205758771613AC270-6052NSI    
YAC2135205732771621AC270-6052NSI    
YAC2136205707771623AC270-6050NSI    
YAC2137205682771607AC270-6050NSI    
YAC2138205657771600AC270-6050NSI    
YAC2139205627771579AC270-6055NSI    
YAC2140205600771564AC270-6050NSI    
YAC2141205464771613AC270-6048NSI    
YAC2142205439771614AC270-6051NSI    
YAC2143205415771611AC270-6050NSI    
YAC2144207139771998AC270-6052NSI    
YAC2145207113771997AC270-6050NSI    
YAC2146207088771997AC270-6050NSI    
YAC2147207063771995AC270-6058NSI    
YAC2148207035771994AC270-6050NSI    
YAC2149207010771997AC270-6050NSI    
YAC2150206985771998AC270-6050NSI    
YAC2151206960772001AC270-6050NSI    
YAC2152206935772005AC270-6050NSI    
YAC2153206910772002AC270-60521485240.28
YAC2154206884772003AC270-6051NSI    
YAC2155206859772002AC270-6050NSI    
YAC2156206834772000AC270-6054NSI    
YAC2157206807772000AC270-6050NSI    
YAC2158206782772000AC270-6050NSI    
YAC2159206757772000AC270-6050NSI    
YAC2160206728771998AC270-60511323640.2
YAC2161206703772000AC270-6058NSI    
YAC21622066737771998AC270-605010441.03
YAC2163206648772001AC270-605010440.31
YAC2164206624771994AC270-6050NSI    
YAC2165206599772002AC270-6054NSI    
YAC2166206572771997AC270-605010880.22
YAC2167206547772002AC270-6053NSI    
YAC2168206514772000AC270-6055NSI    
YAC2169206487772000AC270-6048NSI    
YAC2170206460772007AC270-6050NSI    
YAC2171206435772003AC270-6050NSI    
YAC2172206410772005AC270-6054NSI    
YAC2173206383772001AC270-6058NSI    
YAC2174206354772000AC270-6048NSI    
YAC2175206328771996AC270-6054NSI    
YAC2176206301771991AC270-6050NSI    
YAC2177206276771995AC270-6050NSI    
YAC2178206251771998AC270-6050NSI    
YAC2179206226772002AC270-60501485020.91
YAC2180206201772001AC270-6050NSI    
YAC2181206176772002AC270-6050NSI    
YAC2182206151772002AC270-60501121640.21
YAC2183206126772002AC270-6050NSI    
YAC2184206101772002AC270-6051NSI    
YAC2185206076771995AC270-60511444840.29
YAC2186206051771995AC270-6051NSI    
YAC2187206026772003AC270-605010440.27
YAC2188206001772002AC270-6050NSI    
YAC2189205976772009AC270-6050NSI    
YAC2190205951772009AC270-6050NSI    
YAC2191205926772006AC270-605014840.26
YAC2192205901772006AC270-60501283240.25
YAC2193205876772008AC270-6052NSI    
YAC2194205848772010AC270-6050NSI    
YAC2195205823772006AC270-6050NSI    
YAC2196205798772008AC270-6050NSI    
YAC2197205773772006AC270-6050NSI    
YAC2198205748772002AC270-605014840.29
YAC2199205723771998AC270-6050NSI    
YAC2200205698771996AC270-605010440.3
YAC2200205698771996AC270-605041228160.33
YAC2201205673771997AC270-6050NSI    
YAC2202205648772000AC270-6050NSI    
YAC2203205623771996AC270-6054NSI    
YAC2204205596772000AC270-6050NSI    
YAC2205205571772006AC270-6052NSI    
YAC2206205545772000AC270-6050NSI    
YAC2207205520771998AC270-6050NSI    
YAC2208205495771997AC270-6050NSI    
YAC2209205470771998AC270-6052NSI    
YAC2210205444771999AC270-6050NSI    
YAC2211205419772001AC270-6050NSI    
YAC2212208697772000AC270-6054NSI    
YAC2213208670772000AC270-6052NSI    
YAC2214208644772000AC270-6050NSI    
YAC2215208619772000AC270-6050NSI    
YAC2216208594772002AC270-6050NSI    
YAC2217208569772004AC270-6050NSI    
YAC2218208544772005AC270-6050NSI    
YAC2219208519772007AC270-6050NSI    
YAC2220208494772009AC270-6050NSI    
YAC2221208469772007AC270-6050NSI    
YAC2222208444772002AC270-60501202440.21
YAC2223208419772001AC270-6051NSI    
YAC2224208394772001AC270-6051NSI    
YAC2225208369771998AC270-60521162040.33
YAC2226208343771993AC270-6050NSI    
YAC2227208318771997AC270-6052NSI    
YAC2228208267771985AC270-6050NSI    
YAC2229208242771989AC270-6052NSI    
YAC2230208216771992AC270-6051NSI    
YAC2231208191771997AC270-6052NSI    
YAC2232208165771995AC270-6054NSI    
YAC2233208138772002AC270-6050NSI    
YAC2234208113772012AC270-6054NSI    
YAC2235208086771995AC270-6054NSI    
YAC2236208059771995AC270-6053NSI    
YAC2237208023772002AC270-6050NSI    
YAC2238207998772011AC270-60501444840.28
YAC2239207973772019AC270-600NSI    
YAC2240207955772021AC270-6051NSI    
YAC2241207933772014AC270-6050NSI    
YAC2242207912772005AC270-6050NSI    
YAC2243207879772008AC270-6050NSI    
YAC2244207854772006AC270-6050NSI    
YAC2245207829772011AC270-6052NSI    
YAC2246207804772006AC270-60501283240.22
YAC2247207779772003AC270-6050NSI    
YAC2248207754771997AC270-6050NSI    
YAC2249207621771994AC270-6050181240.28
YAC2250207596772000AC270-6054NSI    
YAC2251207569772002AC270-6054NSI    
YAC2252207542772000AC270-6054NSI    
YAC2253207515772004AC270-6054NSI    
YAC2254207488772000AC270-6050NSI    
YAC2255207463772006AC270-6052NSI    
YAC2256207437772000AC270-6052NSI    
YAC2257207411772003AC270-6050NSI    
YAC2258207386772004AC270-6050NSI    
YAC2259207361772005AC270-6054NSI    
YAC2260207335772000AC270-6054NSI    
YAC2261207309771993AC270-605014840.3
YAC2262207284771997AC270-60501404440.23
YAC2263207259772000AC270-6050NSI    
YAC2264207234772003AC270-60501242840.3
YAC2265207209772003AC270-60522324080.32
YAC2266207183772003AC270-6050NSI    
YAC2267207158772001AC270-6050NSI    
YAC2268208280772400AC270-6050NSI    
YAC2269208255772402AC270-6054NSI    
YAC2270208228772402AC270-6050NSI    
YAC2271208203772401AC270-6054NSI    
YAC2272208178772400AC270-6060NSI    
YAC2273208149772399AC270-6056NSI    
YAC2274208121772400AC270-6052NSI    
YAC2275208095772405AC270-6051NSI    
YAC2276208070772400AC270-6054NSI    
YAC2277208043772401AC270-6054NSI    
YAC2278208016772400AC270-6050NSI    
YAC2279207991772400AC270-6051NSI    
YAC2280207966772400AC270-6050NSI    
YAC2281207941772400AC270-6051NSI    
YAC2282207916772398AC270-6050NSI    
YAC2283207891772401AC270-6050NSI    
YAC2284207866772402AC270-6054NSI    
YAC2285207839772400AC270-6054NSI    
YAC2286207812772401AC270-6054NSI    
YAC2287207785772401AC270-6051NSI    
YAC2288207766772396AC   181240.4
YAC2289207741772401AC270-6052NSI    
YAC2290207715772398AC270-6050NSI    
YAC2291207690772397AC270-6050NSI    
YAC2292207665772396AC270-6051NSI    
YAC2293207640772397AC270-6051NSI    
YAC2294207615772397AC270-6052NSI    
YAC2295207589772398AC270-6051NSI    
YAC2296207563772396AC270-6050NSI    
YAC2297207538772397AC   10441.81
YAC2298207513772395AC270-6051NSI    
YAC2299207488772397AC270-6054NSI    
YAC2300207441772401AC270-6044NSI    
YAC2301207419772400AC270-6044NSI    
YAC2302207397772400AC270-6052NSI    
YAC2303207371772403AC   1485240.22
YAC2304207345772400AC   1121640.83
YAC2305207318772400AC270-6054NSI    
YAC2306207291772395AC270-6054NSI    
YAC2307207264772388AC270-6054NSI    
YAC2308207222772392AC270-6057NSI    
YAC2309207194772398AC270-6054NSI    
YAC2310207167772400AC   2122080.27
YAC2310207167772400AC   1404440.93
YAC2311207142772404AC270-6050NSI    
YAC2312207117772406AC270-6050NSI    
YAC2313207092772404AC270-6050NSI    
YAC2314207067772402AC270-6050NSI    
YAC2315207042772402AC270-6050NSI    
YAC2316207017772400AC270-6050NSI    
YAC2317206992772400AC270-6053NSI    
YAC2318206966772396AC   14840.67
YAC2319206966772396AC270-6050NSI    
YAC2320206939772396AC270-6050NSI    
YAC2321206882772400AC270-6054NSI    
YAC2322206855772400AC   1202440.24
YAC2323206830772400AC270-6052NSI    
YAC2324206804772400AC270-6060NSI    
YAC2325206774772400AC   1121640.2
YAC2326206744772400AC270-6054NSI    
YAC2327206717772400AC270-6054NSI    
YAC2328206690772399AC   1162040.28
YAC2329206665772400AC270-6054NSI    
YAC2330206638772402AC270-6050NSI    
YAC2331206613772400AC270-6050NSI    
YAC2332206588772402AC270-6050NSI    
YAC2333206563772406AC270-6050NSI    
YAC2334206538772404AC270-6050NSI    
YAC2335206513772405AC270-6050NSI    
YAC2336206488772404AC270-6051NSI    
YAC2337206459772399AC   10440.81
YAC2338206434772402AC270-6054NSI    
YAC2339206407772402AC270-6054NSI    
YAC2340206380772400AC270-6054NSI    
YAC2341206353772400AC270-6051NSI    
YAC2342206328772402AC270-6050NSI    
YAC2343206303772396AC   181240.3
YAC2344206278772400AC270-6051NSI    
YAC2345206253772404AC270-6050NSI    
YAC2346206228772401AC270-6050NSI    
YAC2347206203772404AC270-6052NSI    
YAC2348206177772400AC270-6051NSI    
YAC2349206152772401AC   1283240.31
YAC2350206127772401AC   1525530.25
YAC2351206100772401AC270-6051NSI    
YAC2352206075772400AC   10442.07
YAC2353206050772406AC270-6050NSI    
YAC2354206025772402AC   1323640.21
YAC2355206000772400AC270-6050NSI    
CMA East           
YRC1760223150777010RC  104Assay pending    
YRC1761223565776400RC  100Assay pending    
YRC1762223764776280RC  102Assay pending    
YRC1763223355776359RC  100Assay pending    
YRC1764223669776375RC  100Assay pending    
YRC1765223455776359RC  100Assay pending    
YRC1766223263776404RC  100Assay pending    
YRC1767223334.29776893.94RC  100Assay pending    
YRC1768223443776902RC  120Assay pending    
YRC1769223575775900RC  102Assay pending    
YRC1770223250776900RC  100Assay pending    
YRC1782221900777815RC  120Assay pending    
YRC1783221817777805RC  80Assay pending    
YRC1784221780777800RC  60Assay pending    
YRC1785221935777587RC  80Assay pending    
YRC1786221895777587RC  80Assay pending    
YRC1787221855777587RC  80Assay pending    
YRC1788221815777587RC  60Assay pending    
YRC1789221925777387RC  80Assay pending    
YRC1790221885777387RC  80Assay pending    
YRC1791221845777387RC  80Assay pending    
YRC1792221805777387RC  60Assay pending    
YRC1793221880777187RC  60Assay pending    
YRC1794221920777187RC  80Assay pending    
YRC1795221960777187RC  80Assay pending    
YRC1796222000777187RC  80Assay pending    
YRC1797221960776987RC  60Assay pending    
YRC1798222000776987RC  80Assay pending    
YRC1799222220776580RC  100Assay pending    
YRC1800222190776820RC  80Assay pending    
YRC1801222160776790RC  80Assay pending    
CMA SW           
YRC1624221202776461RC325-553015015150.48
YRC1624221202776461RC325-55304182240.57
YRC1625221216776441RC325-554520440.45
YRC1625221216776441RC325-55455142060.37
YRC1625221216776441RC325-5545182341180.75
YRC1626221229776421RC325-556020440.35
YRC1626221229776421RC325-5560181020.22
YRC1626221229776421RC325-55604555940.65
YRC1627221243776402RC325-557010220.2
YRC1627221243776402RC325-55701262820.22
YRC1627221243776402RC325-55703646730.55
YRC1628221181776446RC325-553020222200.37
YRC1629221196776426RC325-554510220.37
YRC1629221196776426RC325-55453182131.61
YRC1629221196776426RC325-5545152439150.3
YRC1630221209776406RC325-556020440.29
YRC1630221209776406RC325-55605394450.5
YRC1630221209776406RC325-55603535631.12
YRC1631221223776387RC325-557010220.32
YRC1631221223776387RC325-55701323420.25
YRC1631221223776387RC325-55702424420.5
YRC1631221223776387RC325-5570115970111.16
YRC1632221217776352RC325-55752505220.81
YRC1633221203776371RC325-55651303220.61
YRC1634221191776345RC325-55656465260.23
YRC1634221191776345RC325-55654576140.26
YRC1635221194776298RC325-55954808440.92
YRC1635221194776298RC325-55952889021.11
YRC1636221164776297RC325-5590156479150.29
YRC1636221164776297RC325-55903838630.32
YRC1637221174776282RC325-55955788350.74
YRC1637221174776282RC325-55953929530.57
YRC1638221141776286RC325-558520440.35
YRC1638221141776286RC325-55853616431.95
YRC1638221141776286RC325-55858778581.58
YRC1639221124776267RC325-558020440.33
YRC1639221124776267RC325-55801323420.26
YRC1639221124776267RC325-55804606440.67
YRC1639221124776267RC325-55808677580.8
YRC1640221154776267RC325-55951384020.27
YRC1640221154776267RC325-55958728080.35
YRC1640221154776267RC325-55952909221.37
YRC1641221126776220RC325-55901545620.34
YRC1641221126776220RC325-55906717761.86
YRC1642221119776187RC325-55965697450.33
YRC1642221119776187RC325-55967778472.66
YRC1643221098776172RC325-559512420.29
YRC1643221098776172RC325-55958798781.91
YRC1644221051776153RC325-558010220.23
YRC1644221051776153RC325-5580281240.87
YRC1644221051776153RC325-55803677033.32
YRC1645221046776116RC325-5591261040.26
YRC1645221046776116RC325-55918778581.69
YRC1646221031776138RC325-55751283020.2
YRC1646221031776138RC325-55754656940.96
YRC1647221027776100RC325-55951242620.71
YRC1647221027776100RC325-55954808441.23
YRC1648221013776121RC325-558014620.21
YRC1648221013776121RC325-55803101661.09
YRC1648221013776121RC325-55801202220.32
YRC1648221013776121RC325-5580104454100.41
YRC1648221013776121RC325-55808627081.14
YRC1649220991776108RC325-55762182130.35
YRC1649220991776108RC325-5576102434100.77
YRC1649220991776108RC325-5576135770131.31
YRC1650220975776087RC325-558020440.29
YRC1650220975776087RC325-55801161820.21
YRC1650220975776087RC325-55809606992.53
YRC1651221106776120RC325-55126Assay pending    
YRC1652221065776133RC325-5598Assay pending    
YRC1653220943776134RC325-5547Assay pending    
YRC1654220922776119RC325-5545Assay pending    
YRC1655221130776385RC165-9020Assay pending    
YRC1656221121776357RC135-9035Assay pending    
YRC1657221160776384RC165-9020Assay pending    
YRC1658221144776369RC270-9032Assay pending    
YRC1659221106776336RC75-9030Assay pending    
YRC1660221088776318RC110-9031Assay pending    
YRC1661220790775959RC325-7080Assay pending    
YRC1662220787775963RC325-5582Assay pending    
YRC1663220766775950RC325-7080Assay pending    
YRC1664220762775955RC325-5580Assay pending    
YRC1665220733775910RC325-5580Assay pending    
YRC1666220717775933RC325-5565Assay pending    
YRC1667220741775942RC325-5567Assay pending    
YRC1668220710775899RC325-5570Assay pending    
YRC1669220695775921RC325-5569Assay pending    
YRC1670220661775926RC325-5048Assay pending    
YRC1671220990776068RC325-55901222420.22
YRC1671220990776068RC325-55902788020.68
YRC1672220970776051RC325-5590181020.39
YRC1672220970776051RC325-55907748171.77
YRC1673220934776059RC325-558022640.56
YRC1673220934776059RC325-55802636522.94
YRC1673220934776059RC325-55802687020.93
YRC1674220954776053RC325-55956727861.24
YRC1675220909776050RC325