Perseus Mining Limited (ASX:PRU)

A rapidly growing African-focused gold producer, developer, and explorer.

About Us

Perseus Mining Limited is an Australian company that is engaged in gold production, exploration, and development in West Africa. With three operating gold mines in Ghana and Côte d’Ivoire, Perseus is committed to growing its production and expanding its portfolio through strategic investments and acquisitions.

Company Overview

Established in 2004, Perseus Mining Limited has become a leading mid-tier gold producer with a strong foothold in West Africa. The company operates three significant gold mines: the Edikan Gold Mine in Ghana, and the Sissingué and Yaouré Gold Mines in Côte d'Ivoire. Perseus also holds strategic interests in other prospective gold assets across Africa, including the Nyanzaga Gold Project in Tanzania, which is expected to commence production by 2027.

Perseus is focused on delivering sustainable gold production growth. In FY24, the company produced over 500,000 ounces of gold at a competitive all-in sustaining cost (AISC), reflecting its commitment to operational excellence. Perseus’s growth strategy is underpinned by continuous investment in exploration and development projects, with a strong emphasis on maintaining high environmental, social, and governance (ESG) standards.

Board & Management

Jeff Quartermaine

Jeff Quartermaine

Chairman and Chief Executive Officer

Mr. Jeffrey Quartermaine was appointed to the role of managing director and chief executive officer of Perseus Mining Limited, on 1 February 2013 after previously serving as the group’s chief financial officer from 2010 to 2013.

Since assuming the role of CEO, Mr Quartermaine has played a major role in turning Perseus into a viable business by formulating and implementing a growth strategy designed to transform Perseus into a multi–mine, multi-jurisdictional gold producer with production in excess of 500,000 ounces from 2022 onwards.

Mr Quartermaine has more than 30 years’ experience in senior corporate, financial, and strategic management roles with ASX and TSX-listed resources companies involving operations in Australia, as well as countries in Asia Pacific, South America, and West Africa. He is a Fellow of the Society of Certified Practising Accountant (CPA) who holds both business management (MBA) and civil engineering qualifications (BE).

Mr Quartermaine is a member of the Sustainability Committee.

Amber Banfield

Amber Banfield

Independent Non-Executive Director

Ms Amber Banfield was appointed to the role of Non-Executive Director of Perseus in May 2021. 

Ms Banfield holds a Bachelor of Engineering (Environmental and Civil) degree and a Master of Business Administration, both awarded by the University of Western Australia.

Ms Banfield held management positions with Worley for 20 years, contributing to the Australian company growing into the world’s largest energy and resources engineering services provider. Ms Banfield’s most recent roles included Global Strategy Manager and Global M&A Manager where amongst other things, she was responsible for developing and implementing a company-wide Energy Transition strategy to grow decarbonizing businesses including hydrogen and renewables.

Ms Banfield is the Chairperson of the Board’s Audit and Risk Committee and of the Sustainability Committee.

 Elissa Cornelius

Elissa Cornelius

Non-Executive Director

Ms Cornelius is a Chartered Accountant (ICAA) with a Bachelor of Commerce (BComm) from Curtin University and has over 20 years of experience in a range of financial roles with Australian and International companies.

Ms Cornelius has held financial management roles with various companies involved with gold, base metals and oil & gas mining in Australia and internationally. Most recently, until her decision to step down from executive duties in October 2020, Elissa served as Perseus Mining’s Chief Financial Officer, having first joined the company in 2010 and promoted to CFO in 2013.

Ms Cornelius sits on the Audit and Risk and Remuneration and Nomination Committees.

Daniel Lougher

Daniel Lougher

Independent Non-Executive Director

Mr Daniel Lougher’s professional qualifications including a Bachelor of Science (Honours) of Mining Geology, a Graduate Diploma in Engineering (Mining) and a Master of Science (Engineering). Mr Lougher also holds a First Class Mine Manager’s Certificate of Competency (WA) and is a Member of the Australasian Institute of Mining and Metallurgy.

In total, Mr Lougher’s professional career spans more than 35 years involving a range of exploration, feasibility, development, operations, and corporate roles with Australian and international mining companies including a period of eighteen years spent in Africa with BHP Billiton, Impala Plats, Anglo American and Genmin.

Mr Lougher is the Chairperson for the Technical Committee and sits on the Audit and Risk and Remuneration and Nomination Committees.

John McGloin

John McGloin

Independent Non-Executive Director

Mr John McGloin is the former Chairman and CEO of Amara Mining and joined Perseus in April 2016, following the scheme of arrangement between Amara Mining and its shareholders becoming effective.

Mr McGloin is a geologist and graduate of Camborne School of Mines. He has worked for many years in Africa across the mining industry, consultancy and subsequently and investment banking

Over the years, Mr McGloin has held senior positions with African Platinum, Randgold Resources, Avocet Mining, European Goldfields, Titanium Resources Group, Arbuthnot Banking Group following, Evolution Securities and Collins Stewart.

Mr McGloin is the Chairperson of the Board’s Remuneration and Nomination Committee and is a member of the Technical Committee.

Rick Menell

Independent Non-Executive Director

Rick is an eminent South African citizen whose business career has spanned over 40 years and has involved senior leadership roles in a range of major African based resources companies.

Trained originally as an exploration geologist at Cambridge and Stanford universities, Rick worked as a geologist in Canada, USA and South Africa before spending time as an investment banker for the mining industry in New York and Australia with JP Morgan. After a period as an executive director for Delta Gold in Australia, working on new gold mines in Australia and gold and platinum projects in Zimbabwe, he returned to South Africa in 1991 and rejoined the mining industry there as finance director for diversified mining company Anglovaal Mining.

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