KEFI Gold and Copper PLC · LSE:KEFI
KEFI Gold and Copper — KEFI Minerals — Investor Presentation (October 2019)
25 slides from KEFI Gold and Copper's investor presentation, Oct 30, 2019
Slide 1: Shareholder Update
30 October 2019 Shareholder Update KEFI started as a grass roots explorer funded by London’s AIM market. KEFI is now an explorer, developer and hands-on operator of mining joint ventures for influential and financially strong local partners in the Arabian-Nubian Shield. KEFI is now at the most impor
Slide 2: The information contained in this document (“Presentation”) has been prepared by KEFI Minerals plc
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 give, have g
Slide 3: Overview
Overview Ethiopian JV Tulu Kapi Gold Mines (KEFI as operator, with partners being Gov’t and syndicate of financial institutions) is ready to proceed. Gov’t has asked us to briefly await finalisation of its internal administrative procedures. All stakeholders keen to keep to start-up schedule, so we
Slide 4: Why the Arabian-Nubian Shield?
Why the Arabian-Nubian Shield? World-class discoveries have been made. The mining industry is entering at an increasing rate. e.g. Barrick in Saudi Arabia, Newmont in Ethiopia KEFI’s commitment and the patience of KEFI’s shareholders, should soon be rewarded with action by both Governments and by th
Slide 5: KEFI Financing Structure
KEFI Financing Structure Management and Public and Contractors Institutions Bond Holders (5) $160M bonds ARTAR (1) 60% 40% KEFI Minerals plc Saudi Arabia Project Finance (5) 80% Lease On-Site Infrastructure 20% KEFI Ethiopia ANS Mining (3) Past $60M equity New $38M equity 22%* 56%* Govt. of Ethiopia
Slide 6: KEFI Overall Timetable
KEFI Overall Timetable Exploration in Saudi Arabia and in Ethiopia Exploration drilling and Selected Plant and Mine Appointed senior Tulu Kapi plant Cash flow for debt-service, engineering which cost c. contractors for Tulu Kapi team to operate construction and dividends, growth $60M and underpinned
Slide 7: Corporate Summary
Corporate Summary Summary Summary (1) • AIM IPO 2006. Focused on Arabian Nubian Shield from 2008. Ethiopia & Saudi. AIM code KEFI • Market Cap US$8M. NPV at US$1,300-1500/oz is 6-12 times market cap. Share price - 12 mth 0.6p (low)/4.70 (high) • Ethiopia political changes caused delays for 3 years.
Slide 8: KEFI's Board of Directors
KEFI’s 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, EMED Mining, KE
Slide 9: KEFI's Senior Management
KEFI’s Senior Management Executive Chairman and Finance Director Plus…. David Munro - Operations Eddy Solbrandt – People & Systems Brian Hosking – Planning & Exploration Norman Green – Development David began his career as a mining engineer in Eddy began his career in the mining industry in Brian be
Slide 10: KEFI operates TKGM Joint Venture for Government & Ethiopian Institutions
KEFI operates TKGM Joint Venture for Government & Ethiopian Institutions View a video summarising KEFI’s projects in Ethiopia here 10
Slide 11: Why Ethiopia Now?
Why Ethiopia Now? BBC: “The reforms he has introduced were unthinkable not so long ago. The (previous) government seemed impervious to criticism from human rights groups that the state stifled free expression, side lined and imprisoned opposition leaders and cracked down on protests. But all that ha
Slide 12: Why Western Ethiopia?
Why Western Ethiopia? TKGM in largest gold district, gold mining dates back for millennia Next to Sudan, where gold exports have grown from <10tpa to >100tpa in 10 years, from artisanal Positive Government with recent installation of administrative and security systems at KEFI’s request, in preparat
Slide 13: Why Tulu Kapi Project?
Why Tulu Kapi Project? Ethiopia’s only ‘ready to start’ industrial- scale mining project. Established social licence with longstanding exploration camp staffed by local personnel. No environmental or social legacy issues, e.g. no artisanal mining. Mining Licence granted including development, operat
Slide 14: Tulu Kapi Mineral Resources and Ore Reserves
Tulu Kapi Mineral Resources and Ore Reserves Contained Gold Resource Area Tonnes Gold (million The Tulu Kapi Mineral Resources total 20.2 Category (millions) (g/t) ounces) million tonnes at 2.65g/t gold, containing 1.72 Indicated 17.7 2.49 1.42 million ounces. c. 94% of the Mineral Resources Above 1
Slide 15: Tulu Kapi Project Funding Structure
Tulu Kapi Project Funding Structure US$ ETB Sources of Funds millions millions TKGM Equity as from Jan 2019 excluding pre-2019 KME equity investment $60M and also excluding $50M mining fleet which gets repaid from operating costs as contractor delivers tonnes) - Government 20 586 - ANS Mining (Ethio
Slide 16: Independent Validations
Independent Validations Security Due Diligence Financial Model Environmental & Social Definitive MICON has signed off the full Risk Report and Feasibility Study also the Due Diligence Report for the JORC Resource infrastructure financiers. & Reserve Independent Assessment Reports on Security and Rea
Slide 17: Trenching at Tulu Kapi Open Pit
Trenching at Tulu Kapi Open Pit - This sampled first lode to be mined 17
Slide 18: Tulu Kapi – Underground Potential
Tulu Kapi – Underground Potential Gold mineralisation may extend both beneath the current drilling, and 600m to 800m further to the north – potential for 1 Moz below current open pit. • Base Case Internal PEA on the August 2014 resource of 1.45Mt at 6.3g/t (333koz contained gold) extends beyond curr
Slide 19: Saudi Arabian Projects
KEFI operates Gold & Minerals Joint Venture for Partner – Saudi Conglomerate ARTAR Saudi Arabian Projects View a video summarising KEFI’s projects in Saudi Arabia here 19
Slide 20: Why Saudi Arabia Now?
Why Saudi Arabia Now? Reuters Feb 2019: Saudi Arabia to spend $3.8 billion to enhance mineral exploration Saudi Arabia will invest around $3.8 billion to enhance access to geoscience data and reduce regulatory red tape as it looks to boost mineral exploration, senior government officials said. New M
Slide 21: Why Wadi Bida VMS Belt Current Focus?
Why Wadi Bida VMS Belt Current Focus? G&M JV (via ARTAR) has registered applications for most of Wadi Bidah VMS Belt 120km long Wadi Bidah VMS Belt in Saudi Drilling has started at Hawiah: Assays pending. Bisha VMS Belt in Eritrea (same scale) 30/10/2019 21
Slide 22: VMS Deposits - introductory background
VMS Deposits - introductory background • Form in ‘clusters’ on the seafloor • Forming today as black smokers • Capable of being ‘Giants’ e.g. Rio Tinto 1,535mt ore • Metals include copper, zinc, gold and silver • Can deliver high grades for better profitability 30/10/2019 22
Slide 23: VMS Exploration Criteria - introductory background
VMS Exploration Criteria - introductory background • Ancient seafloor setting • Proximity to growth faults • Presence of umbers and gossans • Slag indicates ancient mining • Widespread chlorite alteration • Low magnetic signature • Hydrothermal carbonate • Resistivity of stockwork • Chargeability of
Slide 24: Drilling has Started at Hawiah
Drilling has Started at Hawiah 2,500m scout program targeting near-surface gold plus copper-gold in the massive sulphide G&M has Hawiah and other ELAs in the Wadi Bidah Belt which cover cumulative +12km of gold gossans on VMS. BRGM drilling in 1980s on these gossans total 1.2Mt at 6.4g/t Au for 254k
Slide 25: Thank You
Thank You Email: info@kefiminerals.com Website: www.kefi-minerals.com @kefiminerals KEFI Minerals plc 25