Highlights

Delivering on Resource Growth

  • Completed 270,000m of drilling over three years from 2007 to 2009.
  • Added resources at average of about 2Moz per annum from 2006 to 2009.
  • Added indicated resources at the rate of 1.4Moz per annum from 2007 to 2009.
  • CAGP - Perseus acquired the project previously mined by Ashanti Goldfields. Resources were less than 0.2Moz when we commenced exploration in mid 2006. By March 2009, mineral resources (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.
  • Tengrela - An initial mineral resource (gold) totalling 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.
  • In 2009 we won the ‘Excellence in Frontier Exploration’ category during the National Mining Awards in Sydney.

Fast Track Development

  • CAGP - In October 2008 we released a preliminary economic assessment ("PEA").  In January 2009 significant changes to the PEA were announced and the Detailed Feasibility Study (DFS) was completed in July 2009. The Company has subsequently committed to long lead items and detailed design work.
  • 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.
  • May 2006 - Commenced exploration of the Central Ashanti Gold Project.
  • July 2008 - The spin-out of Perseus' Kyrgyz Republic assets to Manas Resources Ltd completed in order to focus on West African gold projects.
  • June 2009 - Completed AUD$75M capital raising from Australian, European and North American investors to fast track CAGP.
  • October  2009 - Completed AUD$23.4M capital raising and in November issued subscription receipts for a further CDN$34.164M which converted to shares in February 2010, from North American, Australian and European investors.
  • February 2010 - List on the Toronto Stock Exchange.
  • March 2010 - Perseus joins the S&P/ASX 200 index.
  • May 2010 - Perseus completes its offering of 50,600,000 ordinary shares for C$91,080,000.