West African Resources Ltd · ASX:WAF
West African Resources — Precious Metals Summit 2019
27 slides from West African Resources's conference presentation, Sep 12, 2019
Slide 1: West African Resources Ltd Precious Metals Summit
For personal use only WEST AFRICAN RESOURCES LTD Precious Metals Summit 10 – 13 September 2019 WEST AFRICA’S EMERGING GOLD PRODUCER
Slide 2: Important Notice and Disclaimer; Competent Persons Statement
IMPORTANT NOTICE IMPORTANT NOTICE AND DISCLAIMER COMPETENT PERSONS STATEMENT For personal use only This presentation contains “forward-looking information” within the meaning of securities legislation, including information relating to Information in this presentation that relates to exploration res
Slide 3: West African Resources 12 Month Recap
WEST AFRICAN RESOURCES 12 MONTH RECAP For personal use only June- Dec 18 November 2018 November 2018 January 2019 Banking process 25m at 15g/t Au Awarded engineering resulted in Taurus incl. 5.5m at 40 g/t contract to Lycopodium Start of major US$200m debt at M1S 1km hole construction 200m beneath A
Slide 4: West Africa's Emerging New Gold Producer
WEST AFRICA’S EMERGING NEW GOLD PRODUCER West Africa's highest margin gold project in construction For personal use only On target for +300,000 ounces gold in first 12 months of production at lowest quartile AISC <US$500/oz Fully-funded, unhedged on track for mid-2020 production from open-pit
Slide 5: Capital Structure and Analyst Coverage
CAPITAL STRUCTURE AND ANALYST COVERAGE ASX: WAF Analyst Coverage2 Total Ordinary Shares on Issue 870.5m Argonaut James Wilson For personal use only Options and performance rights on issue 14.2m Euroz Andrew Clayton Top 20 Shareholders 56% Hartleys Mike Millikan Cash at 31 August 2019 A$82m Macquarie
Slide 6: Experienced Board and Management
EXPERIENCED BOARD AND MANAGEMENT For personal use only BOARD OF DIRECTORS SENIOR MANAGEMENT RICHARD HYDE SIMON STORM MATTHEW WILCOX LUKE HOLDEN Executive Chairman & Non-Executive Chief Development General Manager Chief Executive Officer Director & Co-Sec Officer Sanbrado Operations Geologist, Founde
Slide 7: Project Status
SANBRADO GOLD PROJECT For personal use only Project Status 65% Fully funded, fully permitted, COMPLETE tracking to budget and schedule for mid-2020 gold production 7
Slide 8: Key Project Metrics
SANBRADO GOLD PROJECT KEY PROJECT METRICS For personal use only 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.
Slide 9: M1 South Deposit
SANBRADO GOLD PROJECT M1 SOUTH DEPOSIT April 2019 MRE Open Pit 0-100m – 183koz at 6.3 g/t Au For personal use only 178koz at 6.4 g/t gold (Indicated) 5koz at 5.2 g/t gold (Inferred) Underground 100-700m – 814koz at 19.5 g/t Au 697koz at 21.9 g/t gold (Indicated) 117koz at 11.2 g/t gold (Inferred
Slide 10: M1 South Deposit: +700m and still going strong
SANBRADO GOLD PROJECT M1 SOUTH DEPOSIT For personal use only +700m and still going strong Step down drilling confirms mineralisation still wide open. Recent drilling beneath reserves include: – TAN18-DD228: 25m at 15 g/t Au from 862m including 5.5m at 40.4 g/t Au – Step-down drilling to commence i
Slide 11: M5 Deposit
SANBRADO GOLD PROJECT M5 DEPOSIT For personal use only April 2019 Mineral Resource Estimate 2019 Grade Control Highlights 51.3Mt at 1.2 g/t Au for 2.0 Moz Au 29m at 13.2 g/t Au from surface, including 18m at 18.2 g/t Au from 11m 36.6Mt at 1.2 g/t Au for 1.47Moz Au (Ind) 28m at 6.2 g/t Au fro
Slide 12: Annual Production – April 2019 DFS + UG Potential After Y6
SANBRADO GOLD PROJECT ANNUAL PRODUCTION – APRIL 2019 DFS + UG POTENTIAL AFTER Y6 400,000 For personal use only 350,000 M1 South OP 2 years, M5 OP 10 years M1 South UG 6.5 years, Y1-6 average 100Koz gold 300,000 TAN18-DD228: 25m at 15 g/t Au from 862m including 5.5m at 40.4 g/t Au 220m beneath
Slide 13: Targeting commercial production H2 2020
SANBRADO GOLD PROJECT Ta r g e t i n g c o m m e r c i a l p r o d u c t i o n H 2 2 0 2 0 Project Status Highlights Stage 1 Infrastructure earthworks & civils complete For personal use only CIL tanks nearing completion Pipeline and water dam complete, water pumping Decline for underground a
Slide 14: West African Construction Team
WEST AFRICAN CONSTRUCTION TEAM E X T E N S I V E P R O J E C T D E V E L O P M E N T E X P E R I E N C E I N B U R K I N A FA S O Chief Matthew Wilcox - Over 20 years experience in mining construction. Project Director for Nord Gold’s 4Mtpa For personal use only Development Bissa and 8Mtpa Bouly pro
Slide 15: Process Plant Area
SANBRADO GOLD PROJECT PROCESS PLANT AREA For personal use only SAG and ball mill concrete complete Reclaim chamber foundations poured CIL tanks undergoing hydro-testing Crusher, SAG and ball mills on site 15
Slide 16: Process Plant Construction Progress
SANBRADO PROCESS PLANT CONSTRUCTION PROGRESS For personal use only 1 2 1 2 3 4 3 4 1 300 Ton Crane 2 Milling Deck 16 3 Ball and Sag Mill 4 Ball Mill Drive in sump
Slide 17: Process Plant Construction Progress
SANBRADO PROCESS PLANT CONSTRUCTION PROGRESS For personal use only 1 2 3 4 1 1 Ball and SAG mill foundations 17
Slide 18: Process Plant Construction Progress
SANBRADO PROCESS PLANT CONSTRUCTION PROGRESS For personal use only 2 1 CIL Tank 1 & 2 1. Reclaim Tunnel 2. Milling Area 3 3. Reclaim Armco Tunnel Installation 18
Slide 19: M1 South Underground Construction Progress
M1 SOUTH UNDERGROUND CONSTRUCTION PROGRESS - UNDERGROUND For personal use only 1 2 3 4 1 & 2 – Decline advancement at M1 South 19
Slide 20: Camp, Clinic and Administration Buildings
SANBRADO GOLD PROJECT C A M P, C L I N I C A N D A D M I N I S T R AT I O N B U I L D I N G S For personal use only 270 person camp - accommodation units 50% complete, units 6 – 9 ongoing Clinic, police and security building and wall complete Camp kitchen and mess building complete and operati
Slide 21: Water Storage Facility, Pipeline and Tailings Storage Facility
SANBRADO GOLD PROJECT WAT E R S TO R A G E FA C I L I T Y, P I P E L I N E A N D TA I L I N G S S TO R A G E FA C I L I T Y For personal use only New photo to follow Lined two million cubic metre WSF complete 21km pipeline and abstraction tower complete Clearing and grubbing TSF cell 1 (backgr
Slide 22: E & S Commitments
SANBRADO GOLD PROJECT E & S COMMITMENTS Environmental and Social For personal use only Baseline studies for the ESIA and RAP were undertaken from 2015 to 2018. Environmental and RAP approvals were granted in Government support at ground breaking ceremony May 2019 2018. Environmental permit was g
Slide 23: Near-Term Catalysts
NEAR-TERM CATALYSTS ON BUDGET AND ON SCHEDULE FOR GOLD PRODUCTION H2 2020 For personal use only Commence major earthworks and civils Q1 2019 Pour first concrete, CIL tank and mill foundations Q2 2019 Complete pipeline and 1.5M3 water storage facility Q2 2019 Complete underground box-cut and st
Slide 24: Project Schedule
SANBRADO PROJECT SCHEDULE CURRENT DEVELOPMENT PLAN FOR 2019 AND BEYOND For personal use only 2018 2019 2020 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Further resource / reserve and definition drilling Mining and environmental permits approved Updated DFS Award of EPCM and Order Mill Package Detailed
Slide 25: Mineral Resources and Reserves
MINERAL RESOURCES AND RESERVES Cutoff Indicated Resource Inferred Resource Total SANBRADO GOLD For personal use only (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
Slide 26: West African Resources Ltd ASX: WAF
For personal use only 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 26 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
Slide 27: West African Resources Ltd
West African Resources Ltd – ASX: WAF For personal use only www.westafricanresources.com