West African Resources Ltd · ASX:WAF
West African Resources — Diggers and Dealers 2020
21 slides from West African Resources's conference presentation, Oct 13, 2020
Slide 1: Diggers and Dealers – West African Resources Ltd
Dig g ers an d Dealers 13 Octo b er 2020 WEST AFRICAN RESOURCES LTD AFRICA’S NEWEST UNHEDGED GOLD PRODUCER
Slide 2: Important Notice and Disclaimer
IMPORTANT NOTICE . IMPORTANT NOTICE AND DISCLAIMER This presentation contains “forward-looking information” within the meaning of securities legislation, including information relating to Information in this presentation that relates to mineral resources is based on, and fairly represents, informati
Slide 3: West Africa's Newest Gold Producer
WEST AFRICA'S NEWEST GOLD PRODUCER UNHEDGED GOLD PRODUCTION Transformational period from 2016 to 2020 - four years from discovery to first gold Targeting annual production 217koz gold over next five years at AISC <US$600/oz 3.1 million ounces of gold in Mineral Resources1 1.7 million ounces
Slide 4: Capital Structure and Analyst Coverage
CAPITAL STRUCTURE AND ANALYST COVERAGE . ASX: WAF Analyst Coverage2 Total Ordinary Shares on Issue 876.1m Euroz Andrew Clayton Options and performance rights on issue 12.9m Hartleys Mike Millikan Top 20 Shareholders 78% Macquarie Andrew Bowler Cash at 30 September 2020 US$73.5m Sprott Brock Salier G
Slide 5: Experienced Board and Management
EXPERIENCED BOARD AND MANAGEMENT . BOARD OF DIRECTORS SENIOR MANAGEMENT RICHARD HYDE STEWART FINDLAY MATTHEW WILCOX PADRAIG O’DONOGHUE Executive Chairman & Non-Executive Director Chief Development Chief Financial Officer & Chief Executive Officer Banking & Finance Officer Company Secretary Founder,
Slide 6: West African Project Locations
WEST AFRICAN PROJECT LOCATIONS . 6
Slide 7: Sanbrado Gold Operation – Key Project Metrics
SANBRADO GOLD OPERATION KEY PROJECT METRICS Conventional high-grade underground and open-pit mining Conventional 2.2Mtpa SABC CIL plant, LOM recoveries 93% Contract underground and open pit mining MRE of 3.1 Moz Au 2.4 Moz Au (Indicated) 0.7 Moz Au (Inferred) Probable Reserve of 1.7 Moz Au
Slide 8: Production Q3 2020
PRODUCTION Q3 2020 R A M P I N G U P TO F U L L G O L D P R O D U C T I O N AT S A N B R A D O 894,000t processed at 1.7 g/t Au (49,000oz) - Open pits 871,770t at 1.5 g/t Au (41,500oz) - Underground 22,230t at 10.5 g/t Au (7,500oz) 93.3% plant recovery, 45,720 oz recovered 45,400oz gold poured 4
Slide 9: M1 South Deposit
M1 SOUTH DEPOSIT 2020 DEEP DRILLING PROGRAM 15,000m drilling program, US$5m budget Focus 600m to 950m below surface Targeting 4 – 5 year extension to UG mine life Results so far: - TAN20-DD233: 32m at 4.9 g/t gold from 854.5m - TAN20-DD234: 0.5m at 23.9 g/t gold from 842.5m - TAN20-DD235: 7m
Slide 10: Sanbrado Gold Operation – Annual Production
SANBRADO GOLD OPERATION ANNUAL PRODUCTION – APRIL 2019 DFS + UG POTENTIAL AFTER Y6 400,000 M1 South OP 2 years, M5 OP 10 years 350,000 M1 South UG 6.5 years, Y1-6 average 100Koz gold Deep drilling M1 South underway 300,000 Toega not included – update Q4 2020 250,000 Contained Au [oz] 200,000
Slide 11: Sanbrado Regional
SANBRADO REGIONAL G E T T I N G B A C K TO E X P L O R AT I O N WAF consolidating land around Sanbrado 1,250km2 prospective greenstone belts and structures +50km strike of Markoye Fault Advanced kilometre scale targets; - Meguet - Moktedu - Manesse - Nakomgo (Toega) - V3 (New) Aggressive explor
Slide 12: Toega Deposit – Scale and Mine Life
TOEGA DEPOSIT SCALE AND MINE LIFE WAF acquiring Toega from B2Gold and GAMS for US$45 million in staged payments Located within trucking distance (14km) of Sanbrado Existing NI43-101 Inferred Resource is 1.1Moz gold at 2.1 g/t Au, with excellent exploration upside Expected to increase the Sanbrad
Slide 13: Toega Gold Deposit
TOEGA GOLD DEPOSIT 250km2 exploration permit Main focus Toega Gold Deposit Kilometre scale targets Advanced exploration targets at V10 and Toogo Analogous geological settings to Sanbrado 13
Slide 14: Toega Deposit – Scale and Mine Life
TOEGA DEPOSIT SCALE AND MINE LIFE Toega mineralized zone; - 1,200m strike - 430m wide - 400m deep - open along strike and at depth Conventional metallurgy; 86.2% CIL recoveries Current foreign estimate based on 37,000m RC and diamond drilling 65% of drilling less than 50m x 50m Feasibility stud
Slide 15: Toega Deposit – Long Section
TOEGA DEPOSIT L O N G S E C T I O N – W I D E A N D T H I C K M I N E R A L I S AT I O N 15
Slide 16: Sanbrado Gold Operation – E&S Commitments
SANBRADO GOLD OPERATION E & S COMMITMENTS Environmental and Social Implementing ESMS aligned with ISO 140001 and ISO 45001 Comprehensive review and update of project E&S documentation WAF NEWcommunity team meeting local farmers WATER WELLS during COVID-19 global pandemic Growing our E&S depart
Slide 17: Near-Term Catalysts
NEAR-TERM CATALYSTS R A M P I N G U P TO WA R D S F U L L P R O D U C T I O N 2 0 2 1 Completed build and commissioning Q1 2020 Commenced underground ore development Q1 2020 Completed commissioning and first gold pour Q1 2020 Commenced deep drilling at M1 South Q2 2020 Commercial gold produc
Slide 18: Why Invest
WHY INVEST W E S T A F R I C A N R E S O U R C E S LT D A S X : WA F • Quality board and management team aligned with shareholders TEAM • Sanbrado built US$20m under budget and ahead of schedule ESG • Implementing ESMS aligned with ISO 140001 and ISO 45001 GOLD EXPOSURE • Unhedged +200koz per annum
Slide 19: Mineral Resources and Reserves – Sanbrado
MINERAL RESOURCES AND RESERVES SANBRADO Cutoff Indicated Resource Inferred Resource Total SANBRADO (Au g/t) Grade Grade Grade GOLD PROJECT MINERAL Tonnes Au Oz Tonnes (Au Au Oz Tonnes Au Oz (Au g/t) (Au g/t) RESOURCES g/t) April 2019 M1 South U/G >180mRL 3 1,000,000 21.9 697,000 300,000 11.2 117,000
Slide 20: Mineral Resources and Reserves – Toega
MINERAL RESOURCES AND RESERVES TO E G A Cutoff Indicated Resource Inferred Resource Total TOEGA (Au g/t) Grade Grade Grade GOLD PROJECT MINERAL Tonnes Au Oz Tonnes (Au Au Oz Tonnes Au Oz (Au g/t) (Au g/t) RESOURCES g/t) January 8, 2018 Toega O/P 0.6 17,530,000 2.01 1,130,000 17,530,000 2.01 1,130,00
Slide 21: West African Resources Ltd
WEST AFRICAN RESOURCES LTD W EST AF RICA’S NEW EST UNHE DG E D GOL D PRODU C E R w w w. w e s t a f r i c a n r e s o u r c e s . c o m A S X : WA F