Kefi Gold And Copper Plc · LSE:KEFI
Kefi Gold And Copper — Shareholder Meeting (July 2024)
24 slides from Kefi Gold And Copper's shareholder meeting presentation, Jul 22, 2024
Slide 1: An Early-Mover in the Arabian-Nubian Shield
AN EARLY-MOVER IN THE ARABIAN- NUBIAN SHIELD AGM Webinar 22 JULY 2024 kefi-goldandcopper.com
Slide 2: Disclaimer
Disclaimer ARABIAN - NUBIAN SHIE 2 kefi-goldandcopper.com Focused On Arabian- Nubian Shield
Slide 3: Annual General Meeting and Concurrent Proceedings
Annual General Meeting and Concurrent Proceedings • Annual General Meeting this morning 22 July 2024: • Shareholder Resolutions 1-5 were approved with Proxy Votes representing 90-94% Approvals • Non-Executive Director Mark Tyler retired and Addis Alemeyahou joined the Board as Non-Executive Director
Slide 4: Why Now for Modern Mining In Ethiopia and Saudi Arabia
Why Now for Modern Mining In Ethiopia and Saudi Arabia • Geopolitics of Ethiopia and Saudi Arabia and their Mining Sectors Have Turned Positive over the past 2 years: • Internationalisation of Regulations for Mining has rendered Transparent and Fair Minerals Licencing System • Financial system refor
Slide 5: KEFI is the Early Mover, with Discoveries & Growth Platform
N Gold/Copper Deposit KEFI MINERALS ETHIOPIA KEFI (G&M JV) EL KEFI is the Early Mover, with KEFI (G&M JV) ELA Arabian Nubian Shield Discoveries & Growth Platform SAUDI ARABIA Jibal Qutman ▪ 2008 JV with ARTAR ▪ 2 major discoveries – advancing towards development: ▪ Hawiah (copper & gold) PFS complet
Slide 6: Why the Take-off Now for KEFI Specifically?
Why the Take-off Now for KEFI Specifically? GOLD + COPPER ❑ 15 Years of performance has yielded 3 advanced projects and a large pipeline… ❑ Tulu Kapi – Just launched Early Works at this high-grade gold open pit. 140Koz pa Advanced Stage from 2026 increasing to 200Koz pa with underground mine and pro
Slide 7: Capital Structure
CAPITAL STRUCTURE KEFI GOLD + COPPER AIM (KEFI) DIRECTORS 52 Week High- Low 1.2p – 0.5p Harry Anagnostaras-Adams Executive Chair Current Share Price 0.68p John Leach Finance Director Market Cap £41M ($53M) Addis Alemeyahou NED Per share valuation based on NPV (5%) of Richard Robinson NED Tulu Kapi o
Slide 8: Current Priorities
Current Priorities Tulu Kapi Gold Project US$320M : ▪ Project Debt Finance of US$190M between 2 banks ▪ 2nd Bank AFC approvals, 1st Bank TDB having already approved ▪ Equity-Ranking Notes or Bonds: US$110M between regional investors ▪ Ethiopian BIRR Investor have 1st right to participate and thereaf
Slide 9: Comparative Valuations
Comparative Valuations KEFI Undervalued vs. Peers, despite High-Quality Projects US$ US$ 350 5,000 African gold companies Enterprise Value per oz of production* African gold companies Enterprise Value per oz of Measured and Indicated Resource 4,500 300 4,000 250 3,500 3,000 200 2,500 150 2,000 1,500
Slide 10: Tulu Kapi Gold Mine
ARABIAN - NUBIAN SHIE • Ready for construction Tulu Kapi • Full funding package agreed in-principle • Preparation for signing US$320M Project Finance package Gold Mine 10 kefi-goldandcopper.com Focused On Arabian- Nubian Shield
Slide 11: Strong Economic Metrics – Tulu Kapi
Strong Economic Metrics – Tulu Kapi TK Stats 100% Basis Open Pit + Start Underground Mine Open Pit Only and plant at nameplate but stay at nameplate Gold Price (US$/oz) 2,300 2,050 1,800 2,300 2,050 1,800 1,550 Production Statistics Tonnes Processed T 000 18,400 18400 18,400 15,395 15,395 15,395 15,
Slide 12: Ethiopia - 2024 Expected Milestones Ahead
Ethiopia - 2024 Expected Milestones Ahead 2024 in Ethiopia - Launch Tulu Kapi and Restart Ethiopian Exploration Early Works were launched in May 2024: • Newly formed Federal Police Unit deployed around the Mining Licence Area • Now giving final briefings to the community on development and resettlem
Slide 13: Mineral Resources & Ore Reserves
Mineral Resources & Ore Reserves 1.72M oz of contained gold at 2.65g/t Resource Area Tonnes Gold Contained Gold Category (millions) (g/t) (Moz) Indicated Above 17.7 2.49 1.42 1,400m RL Inferred 1.3 2.05 0.08 Sub-Total 19.0 2.46 1.5 Indicated Below 1.1 5.63 0.20 1,400 RL Inferred 0.1 6.25 0.02 Sub-To
Slide 14: 130,000m of Drilling: Still Open at Depth
130,000m of Drilling: Still Open at Depth ARABIAN - NUBIAN SHIE 73,109m of Diamond drilling 49,625m of RC Drilling 4,818m of Geotechnical Drilling 6,051m of Hydrogeological Drilling 1,417m of Trenching 14 kefi-goldandcopper.com Focused On Arabian- Nubian Shield
Slide 15: Tulu Kapi Plant & Pit Shell Design
Tulu Kapi Plant & Pit Shell Design ARABIAN - NUBIAN SHIE 15 kefi-goldandcopper.com Focused On Arabian- Nubian Shield
Slide 16: Independent Experts Sign Off
Independent Experts Sign Off Tulu Kapi Signed Off by Leading Experts for the International Syndicate Security Due Diligence Financial Model ARABIAN - NUBIAN SHIE Environment & Social Definitive Feasibility Study Resources & Reserves 16 kefi-goldandcopper.com Focused On Arabian- Nubian Shield
Slide 17: Saudi Arabia
ARABIAN - NUBIAN SHIE Saudi Arabia Two advanced projects and large regional portfolio 17 kefi-goldandcopper.com Focused On Arabian- Nubian Shield
Slide 18: GMCO JV
GMCO JV ~1,000km² Licence Package • GMCO holds Exploration Licences (“EL’s”) via ARTAR covering ~1,000 km2 and further applications (“ELA’s”) • All licences being transferred into GMCO for ease of project financing • Teams mobilised onto 14 new EL’s, three times ARABIAN - NUBIAN SHIE what GMCO was g
Slide 19: Jibal Qutman Gold Project (near surface, orogenic gold)
Jibal Qutman Gold Project (near surface, orogenic gold) ~270Km² Licence Package Including 0.7Moz Resource as basis for the current DFS • A GMCO discovery on which work was suspended in 2016 during a regulatory overhaul and the site was re-accessed in late 2022 New Asfingia • Mining Licence Area (“ML
Slide 20: Hawiah VMS Project (Copper-Gold-Zinc-Silver)
Hawiah VMS Project (Copper-Gold-Zinc-Silver) Top 3 base metals discovery in Saudi Arabia – working on DFS • Major greenfield discovery made in September 2019 • >105,000m drilling completed since 2019 • Mineral Resource of 29Mt at 0.89% copper, 0.94% zinc, 0.67g/t gold and 10.1g/t silver • Further ne
Slide 21: Hawiah Project - Long section displaying resource classification and open pit shells
Hawiah Project - Long section displaying resource classification and open pit shells ~ Crossroads Extension 5000m Strike > Crossroads Central Zone Camp Lode Open Pit- 11.1 Mt Underground - 17.9 Mt Resource Classification THE anoenece Facing East ep_>old GE inferres k-minerals . Caen @ Unciassifies H
Slide 22: Saudi Arabia - 2024 Expected Milestones
Saudi Arabia - 2024 Expected Milestones • Select Preferred Development Plans for Jibal Qutman Gold and Hawiah Copper-Gold VMS • Trigger DFS and Financing Plans for Both • Ramp-Up Regional Exploration Jibal Qutman Gold and Hawiah Copper-Gold • Report drilling results for resource extension and in-fil
Slide 23: AMAK – listed in Saudi Arabia
AMAK – listed in Saudi Arabia Metrics vs GMCO AMAK has Similar but Smaller Deposits and has a Market cap of $1.6bn AMAK GMCO Copper-Gold Mine/Project Al Masane UG³ 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
Slide 24: Thank You
THANK YOU E: info@kefi-goldandcopper.com Kefiminerals KEFI Gold and Copper kefi-goldandcopper.com
KEFI Gold and Copper — Shareholder Meeting (July 2024) on 6ix