West African Resources Ltd · ASX:WAF
West African Resources — Investor Presentation (March 2022)
25 slides from West African Resources's investor presentation, Mar 8, 2022
Slide 1: West Africa's Emerging Mid Tier Producer
WEST AFRICA’S EMERGING MID TIER PRODUCER TARG ET I NG +4 00, 00 0O Z PA G O L D PRO DUCT I O N BY 20 25 EUROZ HARTLEYS ROTTNEST CONFERENCE 8 – 10 MARCH 2022
Slide 2: Important Notice
IMPORTANT NOTICE . IMPORTANT NOTICE AND DISCLAIMER Mr Silvio has sufficient experience which is relevant to the style of mineralisation and type of All statements other than statements of historical fact included in this announcement including, deposit under consideration and to the activity which h
Slide 3: West Africa's Newest Gold Producer
WEST AFRICA’S NEWEST GOLD PRODUCER A I M I NG FO R + 4 0 0, 0 00 O Z PA G O L D P RO D U CTI O N BY 2 02 5 2022 Mineral Ore Production Exploration Market Guidance Resources Reserves Target Permits Capitalisation 220 - 240 Koz 11.6 Moz 1.7 Moz 2.5 Moz +2,000km2 A$1,245m AISC No Senior Debt US$1040-11
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 world’s leading producers 1,2 No. 1 Region for globally significant gold discoveries 2nd largest gold producing region globally 78% growth in production in the past 10 years +
Slide 5: Capital Structure
CAPITAL STRUCTURE ASX: WAF Analyst Coverage1 Total Ordinary Shares on Issue 1,021m Euroz Hartleys Mike Millikan Options and performance rights on issue 12.4m Macquarie Andrew Bowler Top 20 Shareholders2 60% Sprott Brock Salier Cash at 31 December 2021 US$133m Argonaut John MacDonald Gold at 31 Decem
Slide 6: West African Project Locations
WEST AFRICAN PROJECT LOCATIONS 6
Slide 7: Gold Operations
WEST AFRICAN RESOURCES LTD G O L D O P E R AT I O N S 7
Slide 8: Sanbrado Gold Mine
SANBRADO GOLD MINE KEY PROJECT METRICS South-central Burkina Faso, West Location Africa Ownership WAF 90%; BF Government 10% Contract open-pit and underground Type mining Resources 80Mt at 1.8 g/t for 4.9 Moz gold 1. Reserves 26Mt at 2.0 g/t for 1.7 Moz gold 1. Reserves + 28Mt at 2.7 g/t for 2.5 Moz
Slide 9: Outstanding History of Resource Growth
WEST AFRICAN RESOURCES LTD O U TS TAN DI NG H I S TO RY O F R E S O U RC E G R O W T H Mineral Resources up 127 % on prior 14,000,000 year to 302 Mt at 1.2 g/t for 11.6 million oz gold. 12,000,000 Conversion of 1.3Moz Toega gold deposit 13.1Mt at 1.7 g/t Au for 10,000,000 0.7Moz Indicated, 8.4Mt
Slide 10: Sanbrado Production Outlook to 2033
WEST AFRICAN RESOURCES LTD S ANB RADO PRO DUCT I O N O UT L O O K TO 203 3 2022 unhedged gold production guidance: 220,000 - 240,000 oz at AISC of US$1,040 - 1,100/oz. Average annual production of 198,000oz gold 2022 – 2031, production target 75% Ore Reserves 25% Inventory. Drilling programs t
Slide 11: Development – Kiaka Project
WEST AFRICAN RESOURCES LTD DEVELOPMENT – KIAKA PROJECT 11
Slide 12: Kiaka Overview
KIAKA OVERVIEW WA F + 40 0 K O Z PA P O T E NT I A L B Y 20 2 5 6.8Moz gold Mineral Resource, 220.9Mt at 1.0 g/t Au (JORC 2012) Low strip ratio, oxide ore from surface. Free-milling metallurgy, conventional CIL test work delivering c. 90% gold recovery More than 190,000m of RC and diamond co
Slide 13: Kiaka Gold Project
KIAKA GOLD PROJECT A DEPOSIT OF SCALE 6.8MOZ GOLD Significant drilling results from the project: – KDH339: 180m at 1.9 g/t Au from 355m – KDH181: 206m at 1.6 g/t Au from 313m – KDH05: 208m at 1.6 g/t Au from 30m – KRD74: 132m at 2.3 g/t Au from 23m – MET48: 166m at 1.7 g/t Au from 199m – KDH170: 216
Slide 14: Kiaka Overview – Cross Section 5250N
KIAKA OVERVIEW A DEPOSIT OF SCALE - CROSS SECTION 5250N 14
Slide 15: Kiaka Overview – Cross Section 5450N
KIAKA OVERVIEW A DEPOSIT OF SCALE - CROSS SECTION 5450N 15
Slide 16: Kiaka Overview – Cross Section 5600N
KIAKA OVERVIEW A DEPOSIT OF SCALE - CROSS SECTION 5600N 16
Slide 17: Indicative Kiaka Development Timeline
INDICATIVE KIAKA DEVELOPMENT TIMELINE WA F A I M S F O R + 4 0 0 K O Z PA G O L D P R O D U C T I O N B Y 2 0 2 5 Key Goals WAF to redeploy experienced feasibility and development team of staff and consultants that delivered Sanbrado 6 months ahead of schedule and US$20m under budget Project Dir
Slide 18: ESG
ESG OUR COMMITMENT “Integrating sustainability into our operations with a long term view; beyond production, beyond closure for a positive mine legacy” ENVIRONMENTAL OFFICERS Putting our environmental, social, health, security management system into action Progressive rehabilitation and revegeta
Slide 19: ESG
ESG M A K I N G A P O S I T I V E I M PA C T Positive Social Impact from Sanbrado in education and health Construction of infrastructure and electrification of new schools Livelihood diversification training aimed at women, youth and vulnerable members of the community Health campaigns and don
Slide 20: Building a Strong Workforce
BUILDING A STRONG WORKFORCE OUR TEAM Total WAF workforce 1,300 Diversity being achieved through good employment practices ₋ 90% from Burkina Faso, 10% Expatriate ₋ Gender ₋ 60% of senior ops roles from Burkina Faso ₋ Social and ethnic backgrounds ₋ 50% of site workers from local communities ₋ Ag
Slide 21: Upcoming Catalysts
UPCOMING CATALYSTS 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 Q2 2022 Exploration results from M1 South UG strike extensions and open-pit targets within trucking distance of Sanbrado and Kiaka. Q2 2022 Annual report for 2021 and maiden ESG report. Late Q2 2022 report Kiaka maide
Slide 22: 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 • Building a reputation consistent and reliable delivery GOLD • +220,000oz gold production 2022 at AISC of <US$1100/oz EXPOSURE • 11.6Moz unhedged gold resources •
Slide 23: Mineral Resources and Reserves
MINERAL RESOURCES AND RESERVES SANBRADO & KIAKA PROJECTS MINERAL RESOURCES 31 DECEMBER 2021 S A N B R A D O P R O J E C T O R E R E S E RV E S 3 1 D E C E M B E R 2 0 2 1 For further details, please refer to the ASX announcement released by West African on 22 February 2022 entitled “WAF Resource, Re
Slide 24: Production Target
PRODUCTION TARGET S A N B R A D O G O L D O P E R AT I O N 1 Tonnes, grade and contained metal have been rounded to 2 significant figures to reflect the accuracy of the estimates. Rounding errors may occur. Sanbrado’s 10-year production outlook is based on 75 % Reserves and 25 % Inferred Mineral Res
Slide 25: 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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