Kefi Gold And Copper Plc · LSE:KEFI
Kefi Gold And Copper — Virtual 121 Conference 2024
28 slides from Kefi Gold And Copper's conference presentation, Jun 13, 2024
Slide 1: An Early-Mover in the Arabian-Nubian Shield
AN EARLY-MOVER IN THE ARABIAN- NUBIAN SHIELD Virtual 121 Conference 12-13 JUNE 2024 kefi-goldandcopper.com
Slide 2: Disclaimer
Disclaimer ARABIAN -NUBIAN SHIE 2 kefi-goldandcopper.com Focused On Arabian- Nubian Shield
Slide 3: KEFI – Why Now?
KEFI – Why Now? GOLD + COPPER ❑ Tulu Kapi – Just launched Early Works at this high-grade gold open pit. 140Koz pa from 2026 increasing to 200Koz pa with underground mine and processing optimised Advanced Stage ❑ Hawiah – Large copper-gold-zinc-silver VMS project; 2.5Moz gold-eq. Now selecting develo
Slide 4: Entered Arabian-Nubian Shield 2008 Focused on Saudi Arabia and Ethiopia
Gold/Copper Deposit N KEFI MINERALS ETHIOPIA KEFI (G&M JV) EL KEFI (G&M JV) ELA Entered Arabian-Nubian Arabian Nubian Shield Shield 2008 Focused on Jibal Qutman Saudi Arabia and Ethiopia SAUDI ARABIA Hawiah (VHMS) ▪ 2008 JV with ARTAR ▪ 2 major discoveries – advancing towards development: ▪ Hawiah (
Slide 5: KEFI Corporate Structure
KEFI Corporate Structure KEFI GOLD + COPPER Public Shareholders Regional Investor/s via redeemable convertible loan (at KEFI's election) 90/100% 25% GMCO 0/10% ARTAR KEFI Ethiopia Ethiopian Investors 75% Saudi Arabia c.80/85% .15/20% Tulu Kapi Gold Proposed Lender SIDF Government Mines (TKGM) The ex
Slide 6: Development Projects and Exploration Pipeline
Development Projects and Exploration Pipeline Development Projects Stage Key Points Tulu Kapi (ETHIOPIA) Funding Ore Reserve of 1.0Moz @ 2.1g/t Au; Total Resource base 1.7moz @ 2.65g/t Au Starting with open pit at 140koz Au p.a. and adding u/ground to grow to 200koz p.a. AISC US$870/oz over 9 years
Slide 7: Current Priorities
Current Priorities KEFI GOLD + COPPER Tulu Kapi Gold Project US320M : CAPITAL STRUCTURE ▪ Project Debt Finance of US$190M between 2 banks AIM (KEFI) ▪ 2nd Bank AFC approvals, 1st Bank TDB having already approved 52 Week High- Low 1.2p – 0.5p ▪ Equity Risk Notes: US$100M between regional investors Cu
Slide 8: Comparative Valuations
Comparative Valuations KEFI Undervalued vs. Peers, despite High Quality Projects US$ US$ 350 5,000 African gold companies Enterprise Value per oz of production* African gold companies Enterprise Value per oz of Measured and Indicated Resource 4,500 300 4,000 250 3,500 3,000 200 2,500 150 2,000 1,500
Slide 9: Tulu Kapi Gold Mine
ARABIAN -NUBIAN SHIE • Ready for construction Tulu Kapi • Full funding package agreed in-principle • Preparation for signing US$320M Project Finance package Gold Mine 9 kefi-goldandcopper.com Focused On Arabian- Nubian Shield
Slide 10: Tulu Kapi Project Economics (at US$2,100/oz gold)
Tulu Kapi Project Economics (at US$2,100/oz gold) NPV of US$571M to KEFI; 140Koz gold per year OP production increasing to 200Koz per year with UG mining TK Stats 100% Basis Production Statistics Tonnes Processed T 000 22,999 Tonnes Processed Per Annum T 000 2,486 Grade G/T 2.08 Recovery % 93.73% Wa
Slide 11: Ethiopia - 2024 Expected Milestones Ahead
Ethiopia - 2024 Expected Milestones Ahead 2024 in Ethiopia - Launch Tulu Kapi and Restart Ethiopian Exploration Early Works were launched in May 2024: • Newly formed Federal Mining Police deployed around the Mining Licence Area; • Now giving final briefings to the community on development and resett
Slide 12: Mineral Resources & Ore Reserves
Mineral Resources & Ore Reserves 1.72M oz of contained gold at 2.65g/t Resource Area Tonnes Gold Contained Gold Category (millions) (g/t) (Moz) Indicated Above 17.7 2.49 1.42 1,400m RL Inferred 1.3 2.05 0.08 Sub-Total 19.0 2.46 1.5 Indicated Below 1.1 5.63 0.20 1,400 RL Inferred 0.1 6.25 0.02 Sub-To
Slide 13: 130,000m of Drilling: Still Open at Depth
130,000m of Drilling: Still Open at Depth ARABIAN -NUBIAN SHIE 73,109m of Diamond drilling 49,625m of RC Drilling 4,818m of Geotechnical Drilling 6,051m of Hydrogeological Drilling 1,417m of Trenching 13 kefi-goldandcopper.com Focused On Arabian- Nubian Shield
Slide 14: Tulu Kapi Plant & Pit Shell Design
Tulu Kapi Plant & Pit Shell Design ARABIAN -NUBIAN SHIE 14 kefi-goldandcopper.com Focused On Arabian- Nubian Shield
Slide 15: Independent Experts Sign Off
Independent Experts Sign Off Tulu Kapi Signed Off by Leading Experts for the International Syndicate Security Due Diligence Financial Model ARABIAN -NUBIAN SHIE Environment & Social Definitive Feasibility Study Resources & Reserves 15 kefi-goldandcopper.com Focused On Arabian- Nubian Shield
Slide 16: Saudi Arabia
ARABIAN -NUBIAN SHIE Saudi Arabia Two advanced projects and large regional portfolio 16 kefi-goldandcopper.com Focused On Arabian- Nubian Shield
Slide 17: GMCO JV
GMCO JV ~1,000km² License Package • GMCO holds Exploration Licences (“EL’s”) via (ARTAR) covering ~1,000 km2 and further applications (ELA’s) • All licences being transferred into GMCO for ease of project financing • Teams mobilised onto 14 new EL’s, three times ARABIAN -NUBIAN SHIE what GMCO was gr
Slide 18: Jibal Qutman Gold Project (near surface, orogenic gold)
Jibal Qutman Gold Project (near surface, orogenic gold) ~270Km² Licence Package Including 0.7Moz Resource as basis for the current DFS • A GMCO discovery on which work was suspended in 2016 during a regulatory overhaul and the site was re-accessed in late 2022 New Asfingia • Mining Licence Area init
Slide 19: Hawiah VMS Project (Copper-Gold-Zinc-Silver)
Hawiah VMS Project (Copper-Gold-Zinc-Silver) Top 3 base metals discovery in Saudi Arabia – working on DFS • Major greenfield discovery made in September 2019 • 101,000m drilling programme since 2019 • Mineral Resource of 29Mt at 0.89% copper, 0.94% zinc, 0.67g/t gold and 10.1g/t silver • Further nea
Slide 20: Hawiah Project - Long section displaying resource classification and open pit shells
Hawiah Project - Long section displaying resource classification and open pit shells ~ Crossroads Extension 5000m Strike > Crossroads Central Zone Camp Lode Open Pit- 11.1 Mt Underground - 17.9 Mt Resource Classification THE anoenece Facing East ep_>old GE inferres k-minerals . Caen @ Unciassifies H
Slide 21: Saudi Arabia - 2024 Expected Milestones
Saudi Arabia - 2024 Expected Milestones • Select Preferred Development Plans for Jibal Qutman Gold and Hawiah Copper-Gold VMS • Trigger DFS and Financing Plans for Both • Ramp-Up Regional Exploration Jibal Qutman Gold and Hawiah Copper-Gold • Report drilling results for resource extension and in-fil
Slide 22: AMAK – listed in Saudi Arabia
AMAK – listed in Saudi Arabia Metrics vs GMCO AMAK has Similar but Smaller Deposits and has a Mkt cap of $1.6bn AMAK GMCO Copper-Gold Mine/Project Al Masane UG³ Hawiah OP + UG Mineral Resources 8.6Mt @ 1.0% Cu, 5.0% Zn, 1.0g/t Au, 38g/t Ag 29Mt @ 0.89% Cu, 0.94% Zn, 0.7g/t Au, 10g/t Ag Processing Pl
Slide 23: Thank You
THANK YOU E: info@kefi-goldandcopper.com Kefiminerals KEFI Gold and Copper kefi-goldandcopper.com
Slide 24: Appendices
KEFI GOLD + COPPER APPENDICES
Slide 25: KEFI Board of Directors
KEFI Board of Directors Experienced Industry Specialists for the Region Harry Anagnostaras-Adams John Leach Mark Tyler Richard Robinson Alistair Clark Executive Chair – B. Comm, MBA, Finance Director – BA Non-Executive, Chair Audit Non-Executive – representative with Non-Executive – Chair of Fellow
Slide 26: KEFI – Key Support Executives
KEFI – Key Support Executives Eddy Solbrandt – Chief Operating Officer Robert Williams - Corporate & Technical Studies Eddy began his career in the mining industry in 1986 and Rob began his career in mining as an underground has since worked in open cut and underground miner in 1978. In the subseque
Slide 27: Ethiopia - 2023 Milestones Achieved
Ethiopia - 2023 Milestones Achieved H1-2023 ✓ Costings update ✓ New mining contractor appointed ✓ Finance plan agreed ✓ All contracting, investment and lending terms updated ✓ Lenders update their T&Cs for other parties to confirm documents ✓ Signing of Final Umbrella Agreement for Tulu Kapi project
Slide 28: Saudi Arabia - 2023 Milestones Achieved
Saudi Arabia - 2023 Milestones Achieved Over 180,000m of drilling at Jibal Qutman and Hawiah in 2023 Jibal Qutman Gold (“JQ”) and Hawiah Copper-Gold (“H”) - in Feasibility Study for Development 2024 and 2026: ✓ Drilling programmes lifted to 81,000m at JQ and 101,000m at H ✓ Resources and Reserves up