KEFI Gold and Copper PLC · LSE:KEFI
KEFI Gold and Copper — KEFI Minerals — Mining Indaba 2015
23 slides from KEFI Gold and Copper's conference presentation, February 2015
Slide 1: Emerging Gold Producer in the Arabian-Nubian Shield
EMERGING GOLD PRODUCER IN THE ARABIAN-NUBIAN SHIELD PRESENTATION TO CAPITAL MARKETS AT CAPETOWN, SOUTH AFRICA FEBRUARY 2015 Harry Anagnostaras-Adams, Executive Chairman Jeff Rayner, Exploration Director
Slide 2: Disclaimer
DISCLAIMER The information contained in this confidential 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
Slide 3: Update
UPDATE Tulu Kapi in Ethiopia On track for development to commence 2015 leading to commissioning end 2016 for production in 2017 • Updated Indicated Resource: 1.6Moz (18.8Mt @ 2.7 g/t), vs previous owner’s 1.1Moz (14.5Mt @ 2.4 g/t) • On schedule with licencing, DFS, community resettlement, mine contr
Slide 4: Introduction
INTRODUCTION • Operator of projects in the highly prospective Arabian-Nubian Shield, Ethiopia and Saudi Arabia. Targeting production of +100Kozpa plus exploration of a large portfolio of brownfields and grass roots targets • In Ethiopia: 95% of KEFI Minerals Ethiopia (KME) with Govt 5% • In Saudi Ar
Slide 5: Board of Directors
BOARD OF DIRECTORS Harry Anagnostaras-Adams Ian Plimer Executive Chairman Deputy Chairman Founder or co-founder Citicorp Capital Investors Geology Professor in Newcastle, Melbourne, Australia, Pilatus Capital, Australian Gold Council, Munich and Adelaide Universities. Past and EMED Mining and KEFI M
Slide 6: Peer Comparisons for Listed Developers
PEER COMPARISONS FOR LISTED DEVELOPERS Mine Life C1 Costs Capex Market Project Country Status IRR @ Kozpa (US$/oz) (US$M) Cap* 12 yrs Amara Mining Yaoure Cote d'Ivoire PEA 32% 598 408 £58M @325 21 yrs Belo Sun Mining Volta Grande Brazil PEA 16% 715 329 C$56M @167 7 yrs Premier Gold Mines Brookbank C
Slide 7: Assets in the Arabian-Nubian Shield
ASSETS IN THE ARABIAN-NUBIAN SHIELD • IPO on AIM in Dec 06. Equity financings of c. $25M to test opportunities in Africa and Middle East • Nearly 2,000Km2 exploration licences granted or under application in the Arabian-Nubian Shield as from 2008 • 1st prod’n to be in Ethiopia, Tulu Kapi, target ram
Slide 8: Ethiopia
qa ETHIOPIA MINERALS — TULU KAPI
Slide 9: Ethiopia: Thriving Economy, Prioritised Mining Sector
ETHIOPIA: THRIVING ECONOMY PRIORITISED MINING SECTOR • Dynamic economy: GDP grew by 8.5% over the past 5 years, and over 7.1% in 2013. Main economic partners: China, Germany, Saudi Arabia, USA, Belgium. Ethiopia’s land footprint is greater than Spain and France combined, population over 90M • Addis
Slide 10: Tulu Kapi's Overhaul in 2014 Since Acquisition Dec 2013
TULU KAPI’S OVERHAUL IN 2014 SINCE ACQUISITION DEC 2013 Approved indicative terms for project finance Reactivated Mining Licence Appl’n, having Upgraded JORC overhauled the project Resource 1.9Moz Au Affirmed processing Completed Acquired 75% of Tulu target to 1.2Moz of Provided update of acquisitio
Slide 11: Most Mineralisation in Indicated Category Within Open Pit
MOST MINERALISATION IN INDICATED CATEGORY WITHIN OPEN PIT 11
Slide 12: Tulu Kapi Plan Overhauled
TULU KAPI PLAN OVERHAULED • Geotechnical analysis is refining mine design to reduce waste mining • Semi-selective mining of the orebody is: o Reducing pit size and mine dilution (processing of waste) o Increasing head grade from below 2g/t to above 2g/t o Reducing aggregate tonnes mined of both wast
Slide 13: Tulu Kapi: Lease Area and Site Layout
TULU KAPI: LEASE AREA AND SITE LAYOUT • KEFI reduced the area and sculpted the layout to • Pre-KEFI lease area and site layout minimise haulage distances, environmental impact and community disruption 13
Slide 14: Tulu Kapi: Economically Robust
TULU KAPI: ECONOMICALLY ROBUST KEFI FEB 15 KEFI SEP 14 Adjusted for contract mining and 2nd- INDEPENDENTLY hand plant. Illustrative, pending REVIEWED (1) updated DFS and procurement. (owner-operated mine and new plant) Initial Capex $95M $130M Working Capital and PF costs $25M $20M Total Investment
Slide 15: Tulu Kapi: Clear Funding Plan
TULU KAPI: CLEAR FUNDING PLAN H1-15: • $5M from planned new cornerstone investor Goldfields Resources Fund as ordinary equity at share issue price 1.3-2.0p per share. This planned issue serves to finance activities until full development funding in place for major construction works as from Q4-15. •
Slide 16: Tulu Kapi: Milestones
TULU KAPI: MILESTONES • Q1-15: • Mining Licence • Trigger First Phase of community resettlement • Q2-15: • Project Finance Technical Audit, DFS sign-off and Project finance formal credit approval • Q4-15: • Major works commence • Q4-16: • Commissioning production 16
Slide 17: High-Grade Below Tulu Kapi Open Pit for Future Underground Development
HIGH-GRADE BELOW TULU KAPI OPEN PIT FOR FUTURE UNDERGROUND DEVELOPMENT 17
Slide 18: Saudi Arabia
KEFI SAUDI ARABIA MINERALS — JIBAL QUTMAN
Slide 19: The Kingdom
THE KINGDOM • Saudi Arabia is largely unexplored with few companies exploring for gold. Government priority as long as local participation is significant • G&M (KEFI 40%, ARTAR 60%) – Saudi partner, Abdul Rahman Saad Al Rashid & Sons (ARTAR) – a major local group providing administrative, logistical
Slide 20: Jibal Qutman - Gold Discovery, a Set of Shallow Open Pits
JIBAL QUTMAN - GOLD DISCOVERY A SET OF SHALLOW OPEN PITS • The EL was granted in July 2012 and is approx 99km2 in area • Rapidly discovered 0.63Moz initial Resource in 2013 • Mineralisation identified in five areas: Main, South, West, 3K Hill, 4K Hill • Hosted in the +300km north-south trending Nabi
Slide 21: Jibal Qutman - PFS Completed March 2014
JIBAL QUTMAN - PFS COMPLETED MARCH 2014 ADDED 4 TENEMENT APPLICATIONS Development Studies on Jibal Qutman: Focusing on open cut heap leach to lower capex, speed up the timetable, and allow more open pit discoveries to be added as a modular developments • Mining & Processing – independently reviewed
Slide 22: Hawiah - Large Gold and Base Metals Target
HAWIAH - LARGE GOLD AND BASE METALS TARGET • Hawiah EL covering an area of 95km2, granted in December 2014 • +5km-long gossan, mineralisation exposed at surface • Hosted in +120km north-south Wadi Bidah VHMS Mineral district • Shallow gold-bearing mineralisation + deep base metal bodies • Q1-15: • F
Slide 23: Contacts
CONTACTS Harry Anagnostaras-Adams, Executive Chairman Mobile: +357 99457843 Jeff Rayner, Exploration Director Mobile: +90 533 928 1913 England - Registered office Cyprus - Group corporate team Ethiopia - Development and exploration teams Saudi Arabia - Exploration team Turkey - Support and monitorin