Highlights
Delivering on Resource Growth
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100,000 metres of drilling in 2007 and 170,000 metres in 2008.
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Added resources at average of about 2Moz per annum from 2006 to 2009.
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Added indicated resources at the rate of 1.4Moz per annum from 2007 to 2009.
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CAGP - Perseus acquired the project previously mined by Ashanti Goldfields. Resources were less than 0.2Moz when Perseus commenced exploration in mid 2006. By March 2009, mineral (gold) at CAGP increased to 3.14Moz Measured and Indicated resources and 2.11Moz Inferred resources. A feasibility study completed in July 2009 demonstrated a robust, profitable project can be developed based on initial gold reserves of 2.13 million ounces.
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Tengrela - An initial mineral resource (gold) totaling 397,000 Indicated and 591,000oz Inferred was announced in November 2008. We are testing a number of resource drill targets identified by extensive geochemical sampling, geophysical surveys and RAB drilling.
Fast Track Development
- CAGP - In October 2008 release of "Preliminary Economic Assessment" ("PEA"). In January 2009 significant changes to the PEA were announced and a Detailed Feasibility Study ("DFS") was completed in July 2009. A AUD$75M capital raising in June 2009 enabled us to source some long lead items in anticipation of completion of the approvals process.
- Tengrela - Following the release of the initial resource estimate in November 2008 a Scoping Study was completed in February 2009. The study confirmed a very robust project. A Feasibility Study is now underway.
Corporate Value Focused
- September 2004 - ASX listing achieved after AUD$3.7M IPO fundraising.
- July 2008 - The spin-out of Perseus' Kyrgyz Republic assets to Manas Resources Ltd completed.
- June 2009 - Completed AUD$75M capital raising from Australian, European and North American investors to fast track CAGP.
