KEFI Gold and Copper PLC · LSE:KEFI
KEFI Gold and Copper — KEFI Minerals — Investor Presentation (June 2018)
36 slides from KEFI Gold and Copper's investor presentation, June 2018
Slide 1: Corporate Presentation June 2018
Corporate Presentation June 2018 • Strong platform of partners, contractors & company management • Development ready project – starting at ~ 140koz p.a. with potential uplift to 200koz p.a. • Currently assembling development finance for production as from 2020 • Extensive exploration portfolio in Ar
Slide 2: 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 give, have g
Slide 3: Corporate overview
Corporate overview Summary Summary (1) AIM code KEFI Started exploring Arabian-Nubian Shield 2008 Share price - 12 mth 2.4p (low)/6.00 (high) Planned 54% beneficial interest in Tulu Kapi has NPV £44M or 13p/share Share price (9/6/2018) 2.8p and grows to £75M or 23p/share at start of production 2
Slide 4: Company Overview
Company Overview AIM listed KEFI Minerals plc (KEFI) is an exploration and development company focussed on gold and copper deposits, primarily in the highly prospective Arabian-Nubian Shield area. KEFI is currently focused on developing Tulu Kapi Gold and advancing Jibal Qutman Gold. KEFI’s vision i
Slide 5: The Arabian-Nubian Shield
The Arabian-Nubian Shield The Arabian-Nubian Shield (ANS) is an exposure of Precambrian crystalline rocks on the flanks of the Red Sea. Geographically the ANS includes Israel, Jordan, Egypt, Saudi Arabia, Sudan, Eritrea, Ethiopia, Yemen, and Somalia. The ANS is believed to be the next major explorat
Slide 6: Saudi Arabia and Ethiopia
Saudi Arabia and Ethiopia • The two largest countries in the Arabian-Nubian Shield, by land mass • Both have a long ancient history of mining • Both opened to modern mining during the past decade • Both this year installed younger national leaders and are demonstrably pro-development • In both count
Slide 7: KEFI Existing Corporate Structure
KEFI Existing Corporate Structure Institutions Board Public Ausdrill 34% 3% 58% 5% ARTAR KEFI Minerals plc 60% 40% 100% G&M KEFI Saudi Arabia Ethiopia ⁓77% ⁓ 23% Tula Kapi Gold Mines (TKGM) Govt. of Ethiopia 7
Slide 8: Ethiopian Projects
Ethiopian Projects View a video summarising KEFI’s projects in Ethiopia here 8
Slide 9: Tula Kapi Gold Project
Tula Kapi Gold Project The Tulu Kapi project lies 360 km due west of Ethiopian capital, Addis Ababa. Access is via a sealed road and the site benefits from main electricity grid access within 50km of the project. Tula Kapi has a probable ore reserve of 1.05Moz and mineral resources totalling 1.72Moz
Slide 10: Tula Kapi - Resources & Reserves
Tula Kapi - Resources & Reserves (JORC 2012) Geological Overview Reserves Cut-off Tonnage Gold Grade Cont. Gold • The Tulu Kapi region comprises typical greenstone characterised by (g/t) (millions) (g/t) (Moz) prominent hills of intrusive rocks and deeply incised valleys hosting both High grade 0.90
Slide 11: Tulu Kapi Gold Project Overview of Post-DFS Refinements
Tulu Kapi Gold Project Overview of Post-DFS Refinements 2018 Plan Agreed with Contractors & Financier As part of the due diligence for financing, KEFI has agreed the 2018 Plan 2018 Plan compared with most recent DFS with the preferred financier and contractors. Key mining and financial parameters fr
Slide 12: TKGM – Proposed Corporate Structure
TKGM – Proposed Corporate Structure Institutions Board Public Ausdrill 34% 3% 58% 5% KEFI Minerals plc Ausdrill Mining Services Contractor c. 70% KEFI c. 30% New Investor Ethiopia $30M Lycopodium c. 77% Process Plant Construction & Tula Kapi Gold Mines c. 23% Operations support Govt. of Ethiopia (TK
Slide 13: TKGM – Proposed Finance Structure
TKGM – Proposed Finance Structure KEFI Ethiopia Govt. of Ethiopia Bond Holders c. 77% c. 23% $160M Tulu Kapi Finance SPV Gold Mines On-Site Infrastructure (TKGM) Special Purpose Vehicle (SPV) Structure Bond Financing • Over the past year KEFI has been developing the project funding plans with • The
Slide 14: Tulu Kapi - Project Development Progress
Tulu Kapi - Project Development Progress Government and Community • Mining Licence issued, bilateral agreement signed, permitted for development, operating, environmental and social • Project Company (TKGM) shareholders agreement signed – Mining Licence transferred to TKGM • Roads and power authorit
Slide 15: Saudi Arabian Projects
Saudi Arabian Projects View a video summarising KEFI’s projects in Saudi Arabia here 15
Slide 16: KEFI in Saudi Arabia
KEFI in Saudi Arabia ARTAR Partnership – Gold and Minerals Ltd (G&M) Joint Venture • KEFI has been active in Saudi Arabia since 2008 and is partnered with ARTAR, a leading locally owned industrial group • Saudi Arabia is instituting policies to encourage minerals exploration and development, resulti
Slide 17: Saudi Arabia Exploration – Jibal Qutman
Saudi Arabia Exploration – Jibal Qutman The Jibal Qutman Licence is located in the central southern region of the Arabian-Nubian Shield and covers an area of ⁓100km2 that overlies part of a highly prospective 300km-long structure with > 40 recorded occurrences of gold or ancient mines. A PFS complet
Slide 18: Jibal Qutman
Jibal Qutman District Exploration Licence Applications JQ District ELA JQ District ELA Quartz Vein style Quartz Vein style mineralisation in mineralisation in granites, poor granites outcrop, sand cover Dilation zones ? Sinistral strike slip • 25 rock chips collected from old workings (surface sampl
Slide 19: Saudi Arabia Exploration – Hawiah
Saudi Arabia Exploration – Hawiah The Hawiah prospect is located in the southwest of the Arabian Shield, within the Wadi Bidah Mineral District (WBMD), a 120km long belt which hosts over 24 VMS occurrences and historic workings for both copper and gold. • 95 km2 exploration license granted in Decemb
Slide 20: Hawiah (continued)
Hawiah (continued) KEFI has Hawiah other ELAs in the Wadi Bidah Belt which cover cumulative +12km of gold gossans on VMS. BRGM drilling in 1980’s on these gossans total 1.2Mt at 6.4g/t Au for 254koz contained gold 2km long, 300m from surface SP anomaly “blue” >125mV • Gossan 6km long, 5-40m wide • 5
Slide 21: Tenement Locations in the Arabian Shield
Tenement Locations in the Arabian Shield 0.6Moz +1Moz +40Mt at 2.4% Cu +6Moz G&M JV +3Moz 1 MLA +0.5Moz 1 EL +3Moz 17 ELAs +3Moz 4 ELAs pending Total ≈1,275km2 21
Slide 22: Sources and Uses Excluding any Impact of Project Finance
Sources and Uses Excluding any Impact of Project Finance SOURCE AND USE OF FUNDS STATEMENT PERIOD June 2018 to Dec 2018 £000’s £5.5M Cash and Working Capital Facilities at May 2018 574 June 2018 Placing - Tranche 1 1425 June 2018 Placing - Tranche 2 3925 5350 Project Equity, assume nil for these cal
Slide 23: Share Dilution Due to Placing Announced June 2018
Share Dilution Due to Placing Announced June 2018 Gross amount raised £5,500,000 Placing Price, in pence per share 2.5 Shares on Issue 332,703 Shares to be Issued 220,000 Expanded Issued Shares 552,703 Expanded Market Capitalisation at 2.5p £13,818 NPV of 54% of Project Open Pit only at Start of Con
Slide 24: Contacts
Contacts Local community consultation before development starts at Tulu Kapi Email: info@kefiminerals.com Website: www.kefi-minerals.com @kefiminerals KEFI Minerals plc 24
Slide 25: APPENDICES
KEFI MINERALS APPENDICES
Slide 26: THE TEAM
KEFI MINERALS THE TEAM
Slide 27: Directors
Directors Harry Anagnostaras-Adams – Executive Chairman – B. Comm, MBA, Fellow of Australian Institute of Company Directors 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 28: KEFI Senior Executive
KEFI Senior Executive Harry Anagnostaras-Adams - Executive Chairman see description under Directors John Leach - Finance see description under Directors Below are Senior Executives appointed Feb 2018 to assume line responsibilities in March 2018, in the lead-up to planned development David Munro - O
Slide 29: Development Planning Team
Development Planning Team Wayne Nicoletto, Managing Director, KEFI Ethiopia – BSc Metallurgy, Grad Dip Mineral Economics, Grad Dip Mining (WASM) Wayne has 30 years' experience in the industry as a Metallurgist and a General Manager, specialising in start-up and operation of gold mines in Africa, Cen
Slide 30: OTHER APPENDICES
KEFI MINERALS OTHER APPENDICES
Slide 31: Tulu Kapi Gold Project Overview of DFS-Level Studies
Tulu Kapi Gold Project Overview of DFS-Level Studies To date KEFI has published two DFS-level studies to assess the DFS Study Overviews economic feasibility of Tulu Kapi – both have returned robust results. Key mining and financial parameters from these two published studies are summarised in the ta
Slide 32: Ethiopia-Tulu Kapi – Underground Potential
Ethiopia-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 be
Slide 33: Ethiopia - Opportunities for Satellite Deposits
Ethiopia - Opportunities for Satellite Deposits District Exploration Opportunities KEFI can quickly add to Tulu Kapi open-pit gold production by developing: • Potential for oxide ore in a series of shallow open-pits (40m depth) along the more than 9km of Komto-Guji Belt, all within trucking distance
Slide 34: Ethiopia Exploration Upside
Ethiopia Exploration Upside Looking forward to 2018 and 2019 KEFI is well positioned to capitalize through to 2020 on its excellent portfolio of Ethiopian exploration projects whilst the Tulu Kapi Project undergoes concurrent development. KEFI has an area set aside in principle by Government, for ex
Slide 35: Saudi Arabia - Jibal Qutman
Saudi Arabia - Jibal Qutman Four Surrounding Exploration Licence Applications Jibal Qutman • EL granted June 2012 • 733 koz Resource • PEA May 2015 • Mining Licence Application • All 4 ELAs & MLA await Government launch of new regulations foreshadowed in pro-development policy 15/06/2018 35
Slide 36: Saudi Arabia- VMS Targets in the Wadi Bidah Belt
Saudi Arabia- VMS Targets in the Wadi Bidah Belt Comparison of 120km long Wadi Bidah VMS Belt (left) vs. the Bisha VMS Belt in Eritrea (right) (same scale). G&M JV (via ARTAR) has registered applications for most of Wadi Bidah VMS Belt 15/06/2018 36