PERSEUS MINING LIMITED — Interim / Quarterly Report 2013

Oct 30, 2012

Appendix 5B Mining exploration entity quarterly report

Appendix 5B

Mining exploration entity quarterly report

Name of entity

	PERSEUS MINING LIMITED
	ABN 27 106 808 986 Consolidated statement of cash flows		Quarter ended (“current quarter”)
			30 September 2012
	Cash flows related to operating activities 1.1 Receipts from product sales and related debtors 1.2 Payments for (a) exploration and evaluation (b) development (c) production (d) administration 1.3 Dividends received 1.4 Interest and other items of a similar nature received 1.5 Interest and other costs of finance paid 1.6 Income taxes paid 1.7 Other Net Operating Cash Flows*	Current quarter $A’000		Year to date (3 months) $A’000
		68,982 (3,105) (9,854) (47,026) (2,282) - 102 (612) - -		68,982 (3,105) (9,854) (47,026) (2,282) - 102 (612) - -
		6,205		6,205
	Cash flows related to investing activities 1.8 Payment for purchase or renewal of: (a) prospects (b) equity investments (c) other fixed assets 1.9 Proceeds from sale of: (a) prospects (b) equity investments (c) other fixed assets 1.10 Loans to other entities 1.11 Loans repaid by other entities 1.12 Other Net investing cash flows 1.13 Total operating and investing cash flows (carried forward)	- - (276) - - - - - -		- - (276) - - - - - -
		(276)		(276)
		5,929		5,929

*Includes Reserve Definition Drilling (reallocated from development to exploration)

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Appendix 5B Mining exploration entity quarterly report

1.13 Total operating and investing cash flows (brought forward)	5,929	5,929
Cash flows related to financing activities 1.14 Proceeds from issues of shares, options, etc. 1.15 Proceeds from sale of forfeited shares 1.16 Proceeds from borrowings 1.17 Repayment of borrowings 1.18 Dividends paid 1.19 Other –share issue expenses Net financing cash flows	- - - - - -	- - - - - -
	-	-
Net increase (decrease) in cash held 1.20 Cash at beginning of quarter/year to date 1.21 Exchange rate adjustments to item 1.20 1.22 Cash at end of quarter	5,929 105,497 (2,668)	5,929 105,497 (2,668)
	108,758	108,758

Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities

1.23 1.24	Aggregate amount of payments to the parties included in item 1.2 Aggregate amount of loans to the parties included in item 1.10	Current quarter $A'000
		590
		-
1.25	Explanation necessaryfor an understandingof the transactions
	A$’000 Directors fees, consultancy charges and remuneration 557 Accounting, secretarial and occupancy expenses 33

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Appendix 5B Mining exploration entity quarterly report

Non-cash financing and investing activities

• 2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows

N/A.

• 2.2 Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest N/A.

Financing facilities available

Add notes as necessary for an understanding of the position.

	3.1 Loan facilities (refer note below) 3.2 Credit standby arrangements	Amount available $A’000	Amount used $A’000
		59,176	59,176
		-	-

The Company has US$63 million of the project finance facility outstanding with Macquarie Bank Limited and Credit Suisse (equivalent to AUD$59.2 million at the 30 September 2012 exchange rate). Subsequent to quarter-end, the finance facility has been restructured into a revolving line of credit with the facility limit increased to US$100M (with commitment limits that progressively reduce from US$100M in September 2013 to zero in December 2015).

Estimated cash outflows for next quarter

Estimated cash outflows for next quarter
4.1 Exploration and evaluation 4.2 Development (including pre-development) 4.3 Production* 4.4 Administration	$A’000
	5,500
	20,000
	(35,000)
	2,400
Total	(7,100)

*Includes Reserve Definition Drilling

**Net of product sales and debt facility repayments

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Appendix 5B Mining exploration entity quarterly report

Reconciliation of cash

Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows.	Current quarter $A’000	Previous quarter $A’000
5.1 Cash on hand and at bank 5.2 Deposits at call 5.3 Bank overdraft 5.4 Other (provide details)	4,996	6,068
	103,762	99,429
	-	-
	-	-
Total: cash at end of quarter(item 1.22)	108,758	105,497

At 30 September, the Company had US$8.97 million (approximately AUD$8.64 million at the date of this report) held in bank deposits which are subject to lien and are provided as collateral for bank guarantees issued to the Ghana EPA in relation to environmental rehabilitation provisions concerning some Ghana mineral permits. These deposit amounts are not included in cash balances at the quarter end for the purposes of this cash flow statement.

Changes in interests in mining tenements

6.1 Interests in mining tenements relinquished, reduced or lapsed 6.2 Interests in mining tenements acquired or increased	Tenement reference	Nature of interest	Interest at beginning ofquarter	Interest at end of quarter
	N/A.
	N/A.

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Appendix 5B Mining exploration entity quarterly report

Issued and quoted securities at end of current quarter

Description includes rate of interest and any redemption or conversion rights together with prices and dates.

	Total number	Number quoted	Issue price per security (cents)	Amount paid up per security (cents)
7.1 Preference +securities (description) 7.2 Changes during quarter	-	-	-	-
	-	-	-	-
7.3 +Ordinary securities 7.4 Changes during quarter Exercise of options Exercise of options Exercise of options Exercise of options	457,962,088	457,962,088
7.5 +Convertible debt securities (description) 7.6 Changes during quarter	-	-	-	-
	-	-	-	-
7.7 Options (description and conversion factor 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Cancelled/Expired during quarter	780,000 250,000 160,000 280,000 270,000 1,990,000	- - - - - -	Exercise price $2.13 $3.00 $3.00 $3.45 $3.20 $3.00	Expiry date 16/06/2013 06/10/2013 14/10/2012 14/10/2012 03/11/2013 15/06/2014
	- - - -	- - - -	- - - -	- - - -
	400,000 40,000 200,000 100,000	-	$2.45 $2.13 $3.00 $3.00	29/07/2012 16/06/2013 06/10/2013 15/06/2014
7.11 Debentures (totals only)	-	-
7.12 Unsecured notes (totals only)	-	-

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Appendix 5B Mining exploration entity quarterly report

Compliance statement

• 1 This statement has been prepared under accounting policies, which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 4).

• 2 This statement gives a true and fair view of the matters disclosed.

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Sign here: Print name: Mark Calderwood Managing Director

Date: 31 October 2012

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