KEFI Gold and Copper PLC · LSE:KEFI
KEFI Gold and Copper — KEFI Minerals — UK Investor Show 2017
28 slides from KEFI Gold and Copper's conference presentation, Apr 1, 2017
Slide 1: Organic Growth in the Arabian-Nubian Shield
2Moz Gold in Resources Disclaimer Planning 150‐200,000oz p.a. Gold Production ORGANIC GROWTH IN THE ARABIAN‐NUBIAN SHIELD UK Investor Show – 1 April 2017 Harry Anagnostaras‐Adams ‐ Executive Chairman Jeff Rayner, Adviser ‐ Exploration & Projects; Fabio Granitzio – Group Exploration Manager
Slide 2: Disclaimer
Disclaimer The information contained in this document (“Presentation”) has been prepared by KEFI Minerals plc (the “Company”). While the information contained herein has been prepared in good faith, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers g
Slide 3: Corporate overview
Corporate overview Summary Capital Structure1 Exploration and development company focussed on gold and AIM code KEFI copper in the highly prospective Arabian‐Nubian Shield (ANS) Share price ‐ 12 mth 3.93p (low)/11.38p (high) Recent placing supports working capital for 12‐18 months Share price (2
Slide 4: Poised for organic growth
Poised for organic growth Disclaimer • Tulu Kapi gold mine: • Development team is finalising plans for +115Koz p.a. Au open pit (1 Moz LOM production) • Finance team drafting terms with preferred finance syndicates to trigger development Tulu Kapi in H2‐17 • Upside potential: • Tulu Kapi deposit is
Slide 5: The key steps ahead
The key steps ahead H1 2017 Lodged MLA for Jibal Qutman for review (open pit/heap leach gold project in Saudi Arabia) Receive VAT refund £2.6M (extra working capital pending development finance) Agree Project Finance Terms Tulu Kapi (with Project Contractors, Government, Financiers) H2 2017‐
Slide 6: Strong shareholders and partners
Strong shareholders and partners Lanstead Odey Ausdrill&Lyco Board Public 26% 20% 5% 3% 46% Al Rashid KEFI Minerals plc Ethiopia Gov’t 60% 40% 70‐80% 20‐30% Saudi JV Ethiopia JV Jibal Qutman, Tulu Kapi Hawiah and other KEFI’s Status for Ethiopian Government: Tulu Kapi is fully permitted and ready
Slide 7: Tulu Kapi: A financially robust project
Tulu Kapi A financially robust project The operation is strong financially Open pit production and AISC Gold production = 115k oz p.a. (8 year LOM) AISC Production 134 128 Low AISC of < $800/oz, (excl. finance charges) 124 120 1,500 105 105 111 Underpinned by: 93 1,000 $/oz Koz low strip rat
Slide 8: Tulu Kapi underground mine potential
Tulu Kapi underground mine potential Potential to extend life and increase grade The underground provides strong upside Potential production profile (Koz Au)1 Thick, high‐grade gold zones below open pit Underground Open cut 150 150 150 150 135 Preliminary studies based on current resource only:
Slide 9: Greatest value created from discovery and triggering development
Greatest value created from Disclaimer discovery and triggering development Value Value build M&A 100% 13 Reach steady state 75% 11 Commissioning 12 Begin commercial production Fund “sweet spot” 10 Project construction 9 Raise funding 14 Declining production 50% 7 Reserve definition 8 Feasibility st
Slide 10: Location of KEFI's exploration portfolio in the ANS
Greatest value created from Disclaimer discovery and triggering development Location of KEFI’s exploration portfolio in the ANS • Ethiopia: • Tulu Kapi underground +1Moz target at +5g/t Au below THE EXISTING 1Moz at +2g/t Au open‐pit reserve. Target to lift production from the initial 115Koz p.a. Au
Slide 11: Tulu Kapi near-mine exploration
Tulu Kapi near‐mine exploration Further NEAR‐TERM GOLD testing of OPPORTUNITIES PRODUCTION Guji‐Komto Belt KEFI can quickly add to Tulu Kapi low‐ cost, open‐pit gold production • Shallow gold resources within trucking distance of TK processing plant or as a stand‐alone heap‐leach operations • Potent
Slide 12: Tulu Kapi near-mine exploration: geochemistry and geophysics targets
Tulu Kapi near‐mine exploration Strong targets defined by geochemistry andDisclaimer geophysics Geochemical surveys identify strong gold anomalies along major shear zones defined by geophysical surveys 12
Slide 13: Early days for modern mining industry in Ethiopia
Early days for modern mining industry in Disclaimer Ethiopia ‐ an emerging gold province Artisanal mines, prospects and major Au and Cu deposits in Ethiopia • Highly prospective ‐ limited modern exploration • Lege Dembi is the only operating Au mine • Dish Mountain and Ashashire represent an undevel
Slide 14: Saudi Arabia (KEFI 40%)
Saudi Arabia (KEFI 40%) Saudi Arabia (KEFI 40%) Early mover advantage in eastern Arabian‐Nubian Shield Executing to realise exploration upside Jibal Qutman Hawiah Pipeline of Targets Sufficient Resources to start Potential for large Cu‐Au‐Zn VHMS Over 1,000km2 under application Mining Licence proces
Slide 15: Exploration projects in Saudi Arabia
Exploration projects in Saudi Arabia 15
Slide 16: Jibal Qutman Heap leach project
Jibal Qutman Heap leach project INDICATED RESOURCE INFERRED RESOURCE Tonnes Au (g/t) Ounces Tonnes Au (g/t) Ounces May 2015 OXIDE 8,336,176 0.86 229,165 OXIDE 2,806,468 0.64 58,164 JORC (2012) SULPHIDE 9,706,111 0.86 269,323 SULPHIDE 7,606,335 0.72 176,392 TOTAL 18,042,287 0.86 498,488 TOTAL 10,412,
Slide 17: Jibal Qutman District
Jibal Qutman District Exploration Licence Applications with gold at surface JQ District ELA 1 JQ District ELA 4 Quartz Vein style mineralisation in granites, poor Quartz Vein style outcrop, sand cover mineralisation in granites 25 rock chips collected (surface samples into the dotted area) Gold grad
Slide 18: Wadi Bidah VHMS Belt
Wadi Bidah VHMS Belt 120Km long with +30 Cu‐Au workings Hawiah EL (red) and 7 ELAs in the Wadi Bidah VHMS Belt Same name and similar geology to the Wadi Bidah J.Sayid belt in Eritrea 120Km Evaluated by BRGM in the Hassai ‘80s, mainly for gold in gossans to 40m depth Wadi Bidah Very few holes drilled
Slide 19: Hawiah: Large undrilled VHMS gossan
Hawiah Large undrilled VHMS gossan KEFI has Hawiah 7 ELAs in the Wadi Bidah Belt which cover cumulative +8km of Cu‐Au gossans BRGM drilling in 1980’s on similar gossans in the area total 1.2Mt at 6.4g/t Au for 254Koz Au 2km long, 300m from surface SP anomaly “blue” >125mV • Gossan 6km long, 5-40m wi
Slide 20: Other ELAs in Saudi Arabia
Other ELA’s in Saudi Arabia Surface sampling and workings provides excellent targets An example of the +10 ELAs where high grade gold is present in ancient workings at surface. Trenching and drilling will lead to a rapid resource estimation and development 20
Slide 21: Positioned to be 180,000 oz p.a producer and key explorer
Positioned to be 180,000 oz p.a producer and key explorer in Arabian‐Nubian Shield Revitalised gold development story: Since assuming control of Tulu Kapi in 2014, the team has overhauled the geological understanding and optimised the mine plan, consequently improving economics dramatically Over
Slide 22: Contacts
Contacts Harry Anagnostaras‐Adams, Executive Chairman John Leach, Finance Director Cyprus ‐ Group corporate team Ethiopia ‐ Development and exploration teams Saudi Arabia ‐ Exploration team Email: info@kefi‐minerals.com Website: www.kefi‐minerals.com Luther Pendragon Ltd (Financial PR) Harry Chathli
Slide 23: Appendices
KEFI MINERALS APPENDICES
Slide 24: Ethiopia - A country on the rise
Ethiopia ‐ A country on the rise 15 years of 7‐10% GDP growth, HQ for African Union, with a pro‐development culture, provides UN peacekeepers Africa’s fastest growing economy for region (2015 ‐ 10.2% Real GDP growth)1 Ranks ahead of Kenya, Mali, Mozambique and South Africa Ethiopia is Second most po
Slide 25: Ethiopia's ranking for investment attractiveness
ETHIOPIA’S RANKING FOR INVESTMENT ATTRACTIVENESS Fraser Institute Survey, published June 2016. Rank 51 of 109 globally Morocco Burkina Faso Ghana Namibia Botswana Eritrea Ivory Coast Ethiopia Madagascar Democratic Republic of Congo (DRC) South Africa Zambia Tanzania Angola Mali Mozambique Niger Zimb
Slide 26: Directors of KEFI Minerals plc
Directors of KEFI Minerals plc Harry Anagnostaras‐Adams – Executive Chairman – MBA (Australian Graduate School of Business) Harry was founder or co‐founder of Citicorp Capital Investors Australia, investment company Pilatus Capital, Australian Gold Council, EMED Mining, KEFI Minerals and Cyprus‐base
Slide 27: Tulu Kapi Development team
Tulu Kapi Development team Wayne Nicoletto, Chief Operating Officer and Managing Director, KEFI Ethiopia – BSc Metallurgy, Grad Dip Mining (WASM) Wayne has 30 years' experience in the mining industry as a Metallurgist and a General Manager, specialising in start‐up and operation of gold mines in Afr
Slide 28: Lanstead Placing and Sharing Agreement
Lanstead Placing and Sharing Agreement £4.62 million Lanstead placing done at same price as the February 2017 placing with other investors In March 2017, KEFI received £0.69 million of the proceeds and Lanstead was issued 82.4 million shares Balance of £3.93 million invested in the Lanstead Sh