West African Resources Ltd · ASX:WAF

West African Resources — Investor Presentation (March 2021)

20 slides from West African Resources's investor presentation, Mar 9, 2021

  1. Slide 1: West Africa's Newest Gold Producer

    WEST AFRICA’S NEWEST GOLD PRODUCER I NVE STO R P RES E NTAT IO N MARCH 202 1

  2. Slide 2: Important Notice

    IMPORTANT NOTICE . IMPORTANT NOTICE AND DISCLAIMER Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Silvio has reviewed the contents of this announcement and consents to the inclusion in this All statements other than statements of historical fact includ

  3. Slide 3: West Africa's Newest Gold Producer

    WEST AFRICA’S NEWEST GOLD PRODUCER +200,000 OUNCES UNHEDGED GOLD BEYOND 2030 2021 Gold Mineral Ore Production Exploration Market Production Resources1 Reserves1 Target2 Permits Capitalisation 250 - 280 Koz 5.1 Moz 1.5 Moz 2.8 Moz +1,200km2 A$665m AISC Senior Debt US $720-800/oz US $175m 1.For furthe

  4. Slide 4: Why West Africa?

    WHY WEST AFRICA? GOLDEN POTENTIAL West Africa is one of the most attractive mining regions globally with many of the worlds leading producers Operating Free Cashflow as a % of EV – H2 CY20 1,2,3,4 10.0% WAF already achieving sector leading  No. 1 Region for globally significant gold discoveries 8.0

  5. Slide 5: Capital Structure

    CAPITAL STRUCTURE ASX: WAF Analyst Coverage2 Total Ordinary Shares on Issue 878.7m Euroz Hartleys Mike Millikan Options and performance rights on issue 17.4m Macquarie Andrew Bowler Top 20 Shareholders4 58% Sprott Brock Salier Cash at 31 December 2020 US$73.1m Gold at 31 December 20203 US$10.4m US$1

  6. Slide 6: West African Project Locations

    WEST AFRICAN PROJECT LOCATIONS 6

  7. Slide 7: Sanbrado Gold Operation

    SANBRADO GOLD OPERATION KEY PROJECT METRICS Location South-central Burkina Faso, West Africa Ownership WAF 90%; BF Government 10% Contract open-pit and underground Type mining Resources 81Mt at 2.0 g/t for 5.1 Moz gold 1. Reserves 20Mt at 2.3 g/t for 1.5 Moz gold 1. Reserves + 31Mt at 2.7 g/t for 2.

  8. Slide 8: Strong History of Resource Growth

    WEST AFRICAN RESOURCES LTD S TRO NG HIS TO RY O F RES OU RC E GRO WT H 6,000,000 Key changes  2020 - 4,400 holes 122,000m of drilling 5,000,000  65% Increase in Sanbrado Mineral 4,000,000 Contained Gold Ounces Resources to 81 Mt at 2.0 g/t for 5.1 Moz gold 1. 3,000,000  Addition of the 1.3 Moz To

  9. Slide 9: Strong History of Reserve Growth

    WEST AFRICAN RESOURCES LTD S TRO NG HIS TO RY O F RES E RV E G RO WT H 2020 Mining Depletion Key changes 1,800,000  2021 Ore Reserve 20Mt at 2.3 g/t for 1,600,000 1.5 Moz gold 1. 1,400,000  Depletion for 2020 mining of Mineral Reserve Gold Ounces 1,200,000 146,000oz gold 1,000,000  Open pit Ore R

  10. Slide 10: Production Outlook to 2033

    WEST AFRICAN RESOURCES LTD PRO DUCTI O N O UT LOO K TO 2033 300,000  2021 production guidance 250,000 to 280,000 ounces gold at an AISC of US$720 – US$800/oz 250,000  2021 - 2023 production based on 100% Ore Reserves 200,000 Production Ounces Gold  Average annual production of 216,000oz gold 2021

  11. Slide 11: M1 South Underground

    M1 SOUTH UNDERGROUND PUNCHING ABOVE ITS WEIGHT +900M VERTICAL HIGH GRADE  Mineral Resource: Measured + Indicated 2.4Mt at 11.4 g/t for 0.87Moz gold Inferred 2.2Mt at 11.9 g/t for 0.84Moz ounces gold Total 4.6Mt at 11.6 g/t for 1.7Moz gold1.  Ore Reserve: Open pit 0.65Mt at 5.6 g/t for 0.12Moz gold

  12. Slide 12: M5 Open Pit

    M5 OPEN PIT FILL THE MILL  Mineral Resource (US$1850/oz):  Strip ratio 4:1 Measured + Indicated 35Mt at 1.2 g/t for 1.4Moz gold Inferred 17Mt at 1.1 g/t for 0.58Moz gold  LOM Recovery 92% Total 52Mt at 1.2 g/t for 2.0Moz gold1.  Underground potential beneath Southern end  Ore Reserve (US$1400/o

  13. Slide 13: Toega Satellite Open Pit

    TOEGA SATELLITE OPEN PIT LIFTS PRODUCTION 2024 - 2031  Mineral Resource:  Annual tonnage 1.3Mt ore Inferred 22Mt at 1.9 g/t for 1.3Moz gold1.  Strip ratio 4.7:1  Inferred Resource Open Pit Inventory: 9.5Mt at 1.9 g/t for 0.57Moz gold1.  LOM Recovery 87% 1. 13 are For further details, please ref

  14. Slide 14: Sanbrado Regional

    SANBRADO REGIONAL G E T T I N G B A C K T O E X P L O R AT I O N WAF consolidating land around Sanbrado 1,200km2 prospective greenstone belts +50km strike of Markoye Fault Advanced kilometre scale targets; - Meguet - Moktedu - Manesse - Nakomgo (Toega) - V3 (New) Aggressive exploration in 2021

  15. Slide 15: 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

  16. Slide 16: 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 GOLD • 250-280 koz gold production 2021 at AISC of US$720-800/oz EXPOSURE • +10 year mine life +200,000 ounce unhedged gold production TEAM • Quality board and management team aligned with shareholders • Social licence to operate t

  17. Slide 17: Mineral Resources and Reserves

    MINERAL RESOURCES AND RESERVES SANBRADO Measured Resource Indicated Resource Inferred Resource Total Resource Cutoff Contained Contained Contained Tonnes Grade Tonnes Grade Tonnes Grade Tonnes Grade Contained Au Au Au Au g/t t g/t oz t g/t oz t g/t oz t g/t oz M1 South 0.5 260,000 2.7 23,000 510,000

  18. Slide 18: Production Target

    PRODUCTION TARGET S A N B R A D O G O L D O P E R AT I O N Proved Probable Inferred Mineral Resources Total Reserve + Inferred Resources Contained Contained Contained Contained Tonnes Grade Tonnes Grade Tonnes Grade Tonnes Grade Au Au Au Au t g/t oz t g/t oz t g/t oz t g/t oz Sanbrado Open Pits 1,40

  19. Slide 19: Appendix – Sources

    APPENDIX – SLIDE 4 SOURCES Name ASX Ticker Report Source Announcement Date Dacian DCN December 2020 Half-Yearly Report 25-Feb-21 Ramelius RMS December 2020 Half-Yearly Report 23-Feb-21 West African WAF December 2020 and September 2020 Quarterly Report 27-Jan-21 and 28-Oct-20 Silver Lake SLR December

  20. Slide 20: West Africa's Newest Unhedged Gold Producer

    WEST AFRICAN RESOURCES LTD WE ST AF RI CA’S NEW ES T UNHE DG E D G O L D P RODU CE R www.westafricanresources.com A S X : WA F

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