Kefi Gold And Copper Plc · LSE:KEFI
Kefi Gold And Copper — 121 Conference, London 2023
30 slides from Kefi Gold And Copper's conference presentation, May 9, 2023
Slide 1: Update for 121 Conference, London 9-10 May 2023
KEFI GOLD + COPPER Update for 121 Conference London 9-10 May 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
•net operating cash flow, NPV and production profile figures are estimates. KEFI GOLD + COPPER Corporate Overview Capital Structure (AIM:KEFI) Snapshot Share price - 12 mth 0.4p - 1.5p KEFI Current share price 0.95p Market cap £38M ($47M) Tulu Kapi Jibal Qutman Hawiah Directors Harry Anagnostaras-Ad
Slide 4: Project Overview
KEFI GOLD + COPPER Project Overview 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 evaluating OP/CIL development Hawiah PFS Resource of 29Mt @ 0.9% Cu, 0
Slide 5: Current Project Status and 2023 Plans
Current Project Status and 2023 Plans KEFI GOLD + COPPER Tulu Kapi Gold Q1 2023 ✓ Costings update ✓ New mining contractor appointed ✓ Finance plan agreed ✓ All contracting, investment and lending terms updated ✓ Definitive agreements with contractors, equity investors, government agencies ✓ Lenders
Slide 6: Mine development has been stress tested by experts
Mine development has been stress tested by KEFI GOLD + COPPER experts so that KEFI can deliver Ethiopia’s first major modern mine Security Due Diligence Financial Model Environmental & Social Definitive Feasibility Study Resources & Reserves 6
Slide 7: Project Status and 2023 Plans - Saudi Arabia
Project Status and 2023 Plans KEFI GOLD + COPPER Saudi Arabia Jibal Qutman - Gold Hawiah – Copper 2022 2022 ✓ EL reissued in November 2022 ✓ Resource increased to 29Mt (0.9% Cu, 0.9% Zn, ✓ 2 Els granted along strike 0.67g/t Au and 10.1g/t Ag) ✓ 5 other ELs granted in same belt 2023 2023 ▪ Q2-3: ▪ Q2
Slide 8: Current NPV £281M & 2026 NPV £412M
KEFI GOLD + COPPER Current NPV £281M & 2026 NPV £412M¹ Based on Gold $1,815/oz, Copper US$4.23/lb (Analysts’ Long term Consensus Prices) Comments on NPV and the Calculations MKT CAP V ATTRIBUTABLE £NPVs 450 412 All three of KEFI’s advanced projects report NPV’s based on 8 400 discount rate%: 350 • r
Slide 9: Valuation Benchmarks
Valuation Benchmarks KEFI GOLD + COPPER African Gold Companies (Source: Orior Capital) US$/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 10: Syndicate Structure of KEFI Partners, Regional Investors
Syndicate Structure of KEFI Partners, Regional Investors GOLD + COPPER Banks and Contractors Regional Groups via redeemable Public Shareholders convertible loan (at KEFI’s election) KEFI Gold and Copper plc 25% to 30% 100% GMCO ARTAR KEFI Ethiopia 70% to Saudi Arabia 75% c.70% to 80% c.20% Tulu Kapi
Slide 11: 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 ²$60 per resource oz ²(215,000,000 x 0.8)/2,850,000 = 60.35 “We are also investigating projects
Slide 12: 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 13: 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 13
Slide 14: Tulu Kapi Cash Flows To Debt vs Equity
KEFI GOLD + COPPER Tulu Kapi Cash Flows To Debt vs Equity At Current Consensus Gold Price $1,815 175 Cash Flow Available For Debt Service in US$M & Debt Service in US$M 8.00x 165 155 7.00x 145 135 6.00x 125 115 105 5.00x 95 85 4.00x 75 65 3.00x 55 45 2.00x 35 25 15 1.00x 5 -5 0.00x 1 2 3 4 5 6 7 8 9
Slide 15: Tulu Kapi Summary Economics
Tulu Kapi Summary Economics KEFI GOLD + COPPER At Current Consensus Gold Price $1,815/oz And at Current Gold Spot Price $1,989/oz TK Stats 100% Basis At Gold $1,815/oz At Gold $1,989/oz Production Profile Material Mined (Thousands Tonnes per Annum) 18,846 18,846 Ore Mined (Thousands Tonnes per Annum
Slide 16: Saudi Arabia Advanced Projects - Jibal Qutman and Hawiah
KEFI GOLD + COPPER Saudi Arabia 2 Advanced Projects - Jibal Qutman Gold and Hawiah Copper-Gold Plus a Large Regional Portfolio 16
Slide 17: Saudi Projects
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 18: 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 19: 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 e
Slide 20: 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 21: Hawiah Copper-Gold Project Resource Statement
KEFI GOLD + COPPER Hawiah Copper-Gold Project Resource Statement and Classification 2021 2022 • Major greenfield discovery made in September 2019 Total Resource 24.9 29.0 • 42,000m drilling programme over 3 years Cu Grade (%) 0.9% 0.9% • Mineral Resource of: Au Grade (g/t) 0.62 0.67 Indicated Resour
Slide 22: Appendices
KEFI GOLD + COPPER APPENDICES 22
Slide 23: 130,000 metres of Drilling
KEFI GOLD + COPPER 130,000 metres of Drilling Significant Underground Potential 73,109m of Diamond drilling 49,625m of RC Drilling 4,818m of Geotechnical Drilling 6,051m of Hydrogeological Drilling 1,417m of Trenching 23
Slide 24: We have Uncovered and Sampled the Deposit
KEFI We have Uncovered and Sampled the Deposit GOLD + COPPER 24
Slide 25: We Fully Designed the Mine and Process Plant
KEFI GOLD + COPPER We Fully Designed the Mine and Process Plant Below: 3-D image of open pit and underground deposit Above: 3-D image of plant designed for Tulu Kapi
Slide 26: Tulu Kapi Site Surface Layout
KEFI GOLD + COPPER Tulu Kapi Site Surface Layout
Slide 27: Tulu Kapi Site Open Pit at Surface
KEFI GOLD + COPPER Tulu Kapi Site Open Pit at Surface Showing Adjacent Waste Dumps for Revegetation
Slide 28: Tulu Kapi Open Pit
Tulu Kapi Open Pit KEFI GOLD + COPPER Unveiling Mineralised Zones Below Surface In-fill Drilling To Commence During Construction
Slide 29: Underground Development
Underground Development KEFI GOLD + COPPER to Access Ore Outside Open Pit and to Drill Extensions of the System from Underground 29
Slide 30: Thank You
KEFI GOLD + COPPER Thank You Email: info@kefi-goldandcopper.com @kefiminerals KEFI Gold and Copper Website: kefi-goldandcopper.com 30