Kefi Gold And Copper Plc · LSE:KEFI
Kefi Gold And Copper — Investor Presentation (February 2023)
29 slides from Kefi Gold And Copper's investor presentation, February 2023
Slide 1: Investor Update February 2023
KEFI GOLD + COPPER Investor Update February 2023 1
Slide 2: Disclaimer
KEFI GOLD + COPPER Disclaimer The information contained in this document (“Presentation”) has been prepared by KEFI Gold and Copper plc (the “Company”). While the information contained herein has been prepared in good faith, neither the Company nor any of its shareholders, directors, officers, agent
Slide 3: Corporate Overview
KEFI GOLD + COPPER Corporate Overview Capital Structure (AIM:KEFI) Progress Since IPO 2006 Share price - 12 mth 0.4p - 1.5p 5M oz gold-equ resources. KEFI interest 2.3M oz gold-equ Current share price 0.8p In 2022 geopolitics turned for the better in both Ethiopia (security and regulatory) and Saudi
Slide 4: Overview of Projects
Overview of Projects KEFI GOLD + COPPER -in Ethiopia held via JV TKGM -in Saudi Arabia held via JV GMCO Development Projects Stage Key Points Tulu Kapi Funding Reserve of 1.0Moz @ 2.1g/t Au Starting at 144koz Au p.a. @ AISC $935/oz over 7 years Jibal Qutman DFS Resource of 0.7Moz at 0.8g/t Au DFS ev
Slide 5: Project Status and 2023 Plans - Tulu Kapi
Project Status and 2023 Plans KEFI GOLD + COPPER Ethiopian Development Project Tulu Kapi Gold Completed Q4-22: • Costs updated, new mining contractor appointed and finance plan agreed • All contracting, investment and lending terms updated with syndicate leaders • Definitive agreements negotiated wi
Slide 6: Project Status and 2023 Plans - Saudi Arabia
Project Status and 2023 Plans KEFI GOLD + COPPER Saudi Arabia Development Projects Jibal Qutman Gold and Hawiah Copper-Gold Jibal Qutman Gold: Completed by Q4-22: • Main EL reissued and site access granted November 2022 • 2 EL’s granted along strike of same mineralised structure 2023 Project Launch
Slide 7: Current NPV £235M & 2026 NPV £413M
KEFI GOLD + COPPER Current NPV £235M & 2026 NPV £413M Based on Gold $1,641/oz, Copper US$3.61/lb (Analysts’ Long term Consensus Prices) Comments on NPV (Net Present Value) and the Calculations MKT CAP V ATTRIBUTABLE £NPVs 450 All three of the advanced projects in which KEFI has a beneficial 400 inte
Slide 8: Valuation Benchmarks
Valuation Benchmarks KEFI GOLD + COPPER African Gold Companies (Source: Orior Capital) US$/oz US$/oz 350 4,000 (left) African gold companies 3,500 Enterprise Value 300 3,000 per oz of production, 250 planned or 2022/23 2,500 200 guidance 2,000 150 1,500 100 1,000 (right)African gold companies Enterp
Slide 9: Syndicate Structure
Syndicate Structure of KEFI Partners, Regional Investors GOLD + COPPER Banks and Contractors Regional Groups UK and Saudi via redeemable Shareholders convertible loan (at KEFI’s election) KEFI Gold and Copper plc c.30% 100% c.70% GMCO ARTAR KEFI Ethiopia Saudi Arabia c.80% Tulu Kapi Gold c.20% Ethio
Slide 10: Companies in the Arabian-Nubian Shield
KEFI Companies in the Arabian-Nubian Shield GOLD + COPPER • Block 14 - Sudan (79.9Mt @ 1.11g/t for 2.85Moz Au) • Feasibility stage • Acquired by Perseus Mining for C$215M in Feb 2022 • Acquisition cost of US$60 per resource oz “We are also investigating projects across the Nubian and Arabian Shields
Slide 11: Board of Directors
KEFI GOLD + COPPER Board of Directors Harry Anagnostaras-Adams – Executive Chair – B. Comm, MBA, Fellow of Australian Institutes of Management & Company Directors Harry was founder or co-founder of Citicorp Capital Investors Australia, investment company Pilatus Capital, Australian Gold Council, EME
Slide 12: Ethiopia - Tulu Kapi Gold Mine
KEFI GOLD + COPPER Ethiopia - Tulu Kapi Gold Mine Full Funding Package Agreed In-Principle – Closing Process Underway – Financing to Cover Development plus Exploration 12
Slide 13: Tulu Kapi Cash Flows To Debt vs Equity
Tulu Kapi Cash Flows To Debt vs Equity KEFI GOLD + COPPER At Current Consensus Gold Price $1,641/oz And at Current Spot Price $1,940/oz US$m CFADS & Debt Service DSCR US$m CFADS & Debt Service DSCR 165 7.00x 165 8.00x 155 155 145 145 7.00x 6.00x 135 135 125 125 6.00x 115 5.00x 115 105 105 5.00x 95 4
Slide 14: Tulu Kapi Summary Economics
Tulu Kapi Summary Economics KEFI GOLD + COPPER At Current Consensus Gold Price $1,641/oz And at Current Spot Price $1,940/oz TK Stats 100% Basis At Gold $1,641/oz At Gold $1,940/oz Production Profile Material Mined (Thousands Tonnes per Annum) 18,846 18,846 Ore Mined (Thousands Tonnes per Annum) 2,6
Slide 15: >126,000 metres of Drilling
KEFI GOLD + COPPER >126,000 metres of Drilling Significant Underground Potential 15
Slide 16: We have Uncovered and Sampled the Deposit
KEFI We have Uncovered and Sampled the Deposit GOLD + COPPER 16
Slide 17: We Fully Designed the Mine and Process Plant
KEFI GOLD + COPPER We Fully Designed the Mine and Process Plant Above: Truck and personnel of the contractor Below: 3-D image of open pit and underground deposit Above: 3-D image of plant designed for Tulu Kapi Below: Similar factory built by same contractor
Slide 18: Tulu Kapi Site Surface Layout
KEFI GOLD + COPPER Tulu Kapi Site Surface Layout
Slide 19: Tulu Kapi Site Open Pit at Surface
KEFI GOLD + COPPER Tulu Kapi Site Open Pit at Surface Showing Adjacent Waste Dumps for Revegetation
Slide 20: Tulu Kapi Open Pit
Tulu Kapi Open Pit KEFI GOLD + COPPER Unveiling Mineralised Zones Below Surface In-fill Drilling To Commence During Construction
Slide 21: Underground Development
Underground Development KEFI GOLD + COPPER to Access Ore Outside Open Pit and to Drill Extensions of the System from Underground 21
Slide 22: Every Aspect Checked by International Experts
Every Aspect Checked by International Experts KEFI GOLD + COPPER So As to Give Confidence About Ethiopia’s First Major Modern Mine Security Due Diligence Financial Model Environmental & Social Definitive Feasibility Study Resources & Reserves 22
Slide 23: Saudi Arabia Advanced Projects
KEFI GOLD + COPPER Saudi Arabia 2 Advanced Projects - Jibal Qutman Gold and Hawiah Copper-Gold Plus a Large Regional Portfolio 23
Slide 24: Saudi Projects 2023 Expected Milestones
KEFI GOLD + COPPER Saudi Projects 2023 Expected Milestones: Jibal Qutman • DFS • Mining Licence • Financing • Start Construction • Expand Resources Hawiah • PFS • Trigger DFS • Expand Resources Regional Targets: • Initial Prospecting G&M (ARTAR) holds 15 exploration licences and further applications
Slide 25: Comparison of Key Advanced Mining Projects in Saudi Arabia
Comparison of Key Advanced Mining KEFI GOLD + COPPER Projects in Saudi Arabia AMAK GMCO Copper-Gold Mine/Project Al Masane UG 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 Plant 0.8Mtpa Operating 2.0Mtpa PFS G
Slide 26: Jibal Qutman Gold Project
KEFI GOLD + COPPER Jibal Qutman Gold Project • Jibal Qutman is located in the southern portion of the Nabitah Suture zone (Nabitah-Tathlith), a shield wide belt hosting multiple ancient gold mines and known occurrences, as well as the major Ad Duwayhi and Mansourah-Massarah Gold Mines • 2012-2016 ex
Slide 27: Jibal Qutman Geology and Resource
KEFI GOLD + COPPER Jibal Qutman Geology and Resource • Typical shear-hosted orogenic gold deposit comprising a weathered oxide zone and lower un- weathered fresh ore body • Resources are currently constrained to 7 open-pits • Resource drilling has so far only been explored to a depth of ~125m and th
Slide 28: Hawiah Copper-Gold Project
KEFI GOLD + COPPER Hawiah Copper-Gold Project Resource Statement and Classification 2021 2022 Total Resource 24.9 29.0 • Major greenfield discovery made in September 2019 Cu Grade (%) 0.9% 0.9% • 42,000m drilling programme over 3 years Au Grade (g/t) 0.62 0.67 Indicated Resource (Mt) 10.9 12.4 • Min
Slide 29: Thank You
KEFI GOLD + COPPER Thank You Email: info@kefi-goldandcopper.com @kefiminerals KEFI Gold and Copper Website: kefi-goldandcopper.com 29
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