PERSEUS MINING LIMITED Audio Webcast

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PERSEUS MINING LIMITED (PRU)

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PERSEUS MINING LIMITED (PRU) Events

Company (Stock Code)	Date/Time	Event	Timezone: Australia/NSW
PERSEUS MINING LIMITED (PRU) Strong Cash Base Fuels Extensive Drilling Program	Mon, 4 Aug 2008 12:30PM	PRU - Quarterly Activities Report - Mr Mark Calderwood, Managing Director
PERSEUS MINING LIMITED (PRU) Ayanfuri Update	Wed, 25 Jun 2008 03:45PM	PRU - Ayanfuri Update, Ghana East Africa - Mr Mark Calderwood, Managing Director
PERSEUS MINING LIMITED (PRU) Focus: Aggressive Exploration & Feasibility Studies in Ghana	Fri, 16 May 2008 02:00PM	PRU - Investor Update - Mr Mark Calderwood, Managing Director
PERSEUS MINING LIMITED (PRU)	Fri, 29 Sep 2006 12:00PM	PRU - Recent Resource Upgrades - Mr Mark Calderwood, MD
PERSEUS MINING LIMITED (PRU)	Fri, 28 Nov 2008 06:00PM 06:00PM Australia/WA	Annual General Meeting Level 19, QV1 Building, 250 St George's Terrace, Perth, WA
PERSEUS MINING LIMITED (PRU)	Tue, 4 Mar 2008	Interim Results
PERSEUS MINING LIMITED (PRU)	Thu, 29 Nov 2007 03:30PM	Annual General Meeting the Holiday Inn City Centre Perth, 788 Hay Street Perth WA
PERSEUS MINING LIMITED (PRU)	Thu, 15 Mar 2007	Interim Results
PERSEUS MINING LIMITED (PRU)	Wed, 29 Nov 2006 02:00PM	Annual General Meeting The Holiday Inn City Centre Perth, 788 Hay Street Perth WA
PERSEUS MINING LIMITED (PRU)	Wed, 15 Mar 2006	Interim Results
PERSEUS MINING LIMITED (PRU)	Tue, 29 Nov 2005 03:30PM 03:30PM Australia/WA	Annual General Meeting Holiday Inn Centre Perth, 788 Hay St, Perth, WA
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PERSEUS MINING LIMITED (PRU)

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INTERVIEW WITH MARK CALDERWOOD, MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER OF PERSEUS MINING LIMITED (PRU)

“Strong Cash Base Fuels Extensive Drilling Program”

http://www.brr.com.au/event/48903

 

MONDAY, AUGUST 4, 2008, 12:30 PM.

 

            BRR    Welcome to Boardroom Radio. Today, I am joined by Mr. Mark Calderwood, the Managing Director and Chief Executive Officer of Perseus Mining. Mark,

10                    thanks for joining us today.

            PRU    Thanks, James.

 

            BRR    You have released a very comprehensive quarterly report for the most recent quarter. Mark, might I get you to start by talking about Perseus’ operations in

15                    Ayanfuri?

            PRU    Yes, James. The project is coming to completion of the pre-feasibility as part of the definitive feasibility. We should have that out in the next few weeks, some more information. The information is coming to hand now, but we should have the draft document next week or the following. The exploration

20                    and the infill drilling is continuing on. We have actually got about five rigs on site at the moment and we should expect some further resource upgrades later in the year.

 

            BRR    Mark, did you want to talk about there the results on the preliminary figures

25                    that are coming out of the DFS?

            PRU    Yes. It is a little premature, but we have got a feel for the cash operating cost at around about $450 an ounce and capital cost for the plant aspect is expected to be around US$75 million. Owner’s cost is still being worked on, but they will not be as high as the plant costs. The loss on the project, we are

30                    not sure on yet. The weakest part of the progress at the moment has been on the mining design stage, but they will crystallise over the next couple of months.

 

            BRR    Now, looking at your Tengrela operation on the Ivory Coast, you have also

35                    been conducting a significant amount of drilling over there. How is that all progressing?

            PRU    It is coming along. About 30% of our drilling is done in Ivory Coast and we should expect increase on that percentage this quarter. We have got four rigs on site now and three of them are working on resource drilling, aiming to get

40                    a resource out in October, and the results to that have been very exciting. Initial metallurgical works have given us some excellent results. We are going to start our scoping study process in the next couple of weeks.

 

            BRR    Mark, on the corporate front, there has also been quite a bit of activity, the

45                    spin-off of the Perseus’ Kyrgyz assets into Manas Resources. You have also successfully completed a placement for $15 million. Obviously a pleasing result there?

            PRU    Yes. The Manas has taken us a while to get that up and running but that has been also a successful flow with a big shareholder turnout. Perseus shareholder turnout in the Manas flow was $6 million. I guess 5 million of that went to Perseus shareholders, which is a sign of faith from the shareholders. At the same time, we raised some cash at $1.40 for Perseus. So it was all in all quite successful given the market. It is just a label of our shareholders and

5                      the understanding of the project and the quality of the project.

 

            BRR    Just finally, Mark, looking at the quarter ahead, what is going to be the focus for your operations and how you place to fund the future activities?

            PRU    At the end of the quarter, we had about $90 million in the bank and our focus

10                    is to get the pre-feasibility, or the PEA as we call it, in the quarterly completed in August, announce to the public in August, and at the same time start nailing the full definitive feasibility, have it well advanced over the next quarter. At the same time, we are turning inferred resources into indicators and extending the deposits and undertaking a lot of exploration drilling in

15                    Ivory Coast.

 

            BRR    Mark, we look forward to following the results of the ongoing drill programs and also following the progress of the DFS as it comes to light.

            PRU    Thank you, James.

 

INTERVIEW CONCLUDED

 

 

 

 

Contact brr@brr.com.au for more information

 

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