West African Resources Ltd · ASX:WAF
West African Resources — NWR Virtual Small Cap Resource Conference 2020
21 slides from West African Resources's conference presentation, May 6, 2020
Slide 1: West African Resources Ltd Virtual Resources Conference
NWR Communications WEST AFRICAN RESOURCES LTD Virtual Resources Conference WEST AFRICA’S NEWEST GOLD PRODUCER 6 May 2020
Slide 2: Important Notice
IMPORTANT NOTICE IMPORTANT NOTICE AND DISCLAIMER COMPETENT PERSONS STATEMENT This presentation contains “forward-looking information” within the meaning of securities legislation, including information relating to Information in this presentation that relates to exploration results, exploration targ
Slide 3: West Africa's Emerging New Gold Producer
WEST AFRICA’S EMERGING NEW GOLD PRODUCER 2.2Mtpa Sanbrado build and commissioning complete 10 weeks ahead of schedule and US$20m underbudget Currently processing oxide open-pit and underground development ore, first stoping ore expected in September Quarter 2020 On target for +300,000 ounces g
Slide 4: Capital Structure and Analyst Coverage
CAPITAL STRUCTURE AND ANALYST COVERAGE ASX: WAF Analyst Coverage2 Total Ordinary Shares on Issue 870.5m Options and performance rights on issue 15.7m Euroz Andrew Clayton Top 20 Shareholders 58% Hartleys Mike Millikan Cash at 30 April 2020 US$42.5m Macquarie Andrew Bowler Gold at 30 April 20203 US$2
Slide 5: Why Burkina Faso?
WHY BURKINA FASO? Underlain by Birimian gold bearing rocks 1.7 Moz gold production in 2018 Sanbrado the 14th commercial gold mine in 14 years Historically stable government and community support for gold mining Sanbrado located in relatively secure south-central Burkina Faso, away from tro
Slide 6: Experienced Board and Management
EXPERIENCED BOARD AND MANAGEMENT BOARD OF DIRECTORS SENIOR MANAGEMENT RICHARD HYDE SIMON STORM MATTHEW WILCOX LUKE HOLDEN Executive Chairman & Non-Executive Chief Development GM Sanbrado Operations Chief Executive Officer Director & Co-Sec Officer Process Manager Founder, Geologist Chartered Account
Slide 7: Sanbrado Gold Project
SANBRADO GOLD PROJECT March 2020 Project Status 100% COMPLETE Build complete, commissioning complete on schedule for Q2 2020 commercial production 7
Slide 8: Sanbrado Gold Project Key Project Metrics
SANBRADO GOLD PROJECT KEY PROJECT METRICS High-grade UG and open-pit operation with conventional 2.2Mtpa SABC CIL plant MRE of 3.1 Moz Au 2.4 Moz Au (Indicated) & 0.7 Moz Au (Inferred) 1.7 Million ounce Probable Reserve Underground: 0.65 Moz at 10.2 g/t gold Open-pits: 1.0 Moz at 1.6 g/t gold
Slide 9: Sanbrado Gold Project: M1 South Deposit
SANBRADO GOLD PROJECT M1 SOUTH DEPOSIT Development on schedule and budget 2120 level ore development ongoing Grade control ongoing. Results in-line with expectations. Stand out results include: - 13.5m at 133.1 g/t Au - 13m at 64.1 g/t Au - 17.5m at 26.8 g/t Au - 7m at 39.5 g/t Au - 12.4m at 20.5
Slide 10: Sanbrado Gold Project
SANBRADO GOLD PROJECT WAF team on site with first gold shipment 4th May 2020 10
Slide 11: Sanbrado Gold Project
SANBRADO GOLD PROJECT Clockwise from top left; Danny Kotzee (Construction Manager) and Matthew Wilcox (Chief Development Officer), Lyndon Hopkins (Exec Director & COO) and Richard Hyde (Exec Chairman & CEO), First gold bars, Vince Morel (GM Exploration) and Abdou Guire (Senior Geologist). 11
Slide 12: M1 South Underground
M1 SOUTH UNDERGROUND DEVELOPMENT PROGRESS 1 2 Decline +200m below surface level Total development +2,200m First development ore processed April 2020 First stoping 3 ore expected September Quarter 20204 12
Slide 13: Sanbrado Gold Project: E & S Commitments
SANBRADO GOLD PROJECT E & S COMMITMENTS Environmental and Social Baseline studies for the ESIA and RAP were undertaken from 2015 to 2018. Environmental and RAP approvals were granted in 2018. WAF management meeting local stakeholders post Environmental permit was granted in 2018 covering mining
Slide 14: Equipé Sanbrado
EQUIPÉ SANBRADO 600 WORKERS ON SITE 95% BURKINABÉ 5% EXPATRIATE Clockwise from top left: Underground team, CSR dept, Construction team, construction contractors. 14
Slide 15: Toega Acquisition
TOEGA ACQUISITION INCREASE TO MINE LIFE AND PRODUCTION PROFILE WAF to acquire Toega from B2Gold and GAMS for US$45 million in staged payments. Located within trucking distance (14km) of Sanbrado. Existing Inferred Resource is 1.1Moz gold at 2.1 g/t Au, with excellent exploration upside. Toega is
Slide 16: Annual Production – April 2019 DFS + UG Potential After Y6
SANBRADO GOLD PROJECT ANNUAL PRODUCTION – APRIL 2019 DFS + UG POTENTIAL AFTER Y6 400,000 M1 South OP 2 years, M5 OP 10 years 350,000 M1 South UG 6.5 years, Y1-6 average 100Koz gold TAN18-DD228: 25m at 15 g/t Au from 862m including 5.5m 300,000 at 40.4 g/t Au 220m beneath current reserves Dee
Slide 17: Sanbrado Production Update
SANBRADO PRODUCTION UPDATE R A M P I N G U P TO F U L L P R O D U C T I O N Q 3 2 0 2 0 COVID response plan enacted - no material impact to operations Continuous operations for approx. 7 weeks from 8th March 2020 Processing of oxide open-pit and underground development ore progressing to plan Op
Slide 18: Near-Term Catalysts
NEAR-TERM CATALYSTS RAMPING UP TOWARDS FULL PRODUCTION Q3 2020 Completed build and commissioning Q1 2020 Commenced underground ore development Q1 2020 Commence deep resource definition drilling at M1 South Q1 2020 Completed commissioning and first gold pour Q1 2020 Commercial gold production
Slide 19: Mineral Resources and Reserves
MINERAL RESOURCES AND RESERVES Cutoff Indicated Resource Inferred Resource Total SANBRADO GOLD (Au g/t) Grade Grade Grade PROJECT MINERAL Tonnes Au Oz Tonnes (Au Au Oz Tonnes Au Oz (Au g/t) (Au g/t) RESOURCES g/t) April 2019 M1 South U/G >180mRL 3 1,000,000 21.9 697,000 300,000 11.2 117,000 1,300,00
Slide 20: Mineral Resources and Reserves: Toega
MINERAL RESOURCES AND RESERVES Cutoff Indicated Resource Inferred Resource Total TOEGA GOLD (Au g/t) Grade Grade Grade PROJECT MINERAL Tonnes Au Oz Tonnes (Au Au Oz Tonnes Au Oz (Au g/t) (Au g/t) RESOURCES g/t) January 8, 2018 Toega O/P 0.6 17,530,000 2.01 1,130,000 17,530,000 2.01 1,130,000 Total 1
Slide 21: West African Resources Ltd ASX: WAF
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 WE S T A F R I C A’ S E M E R G I N G G O L D P R O D U C E R 21 W W W. W E S TA F R I C A N R E S O U R C E S . C O M
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