Kefi Gold And Copper Plc · LSE:KEFI
Kefi Gold And Copper — Africa Down Under Conference 2023
36 slides from Kefi Gold And Copper's conference presentation, Sep 7, 2023
Slide 1: Ready to Build the High-Grade Tulu Kapi Gold Project, Ethiopia
KEFI GOLD + COPPER Africa Down Under Conference 7 September 2023 Ready to Build the High-Grade Tulu Kapi Gold Project, Ethiopia Finalising $390M Funding Package 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: A 1st mover in Arabian-Nubian Shield
A 1st mover in Arabian-Nubian Shield KEFI GOLD + COPPER Focused on Saudi Arabia and Ethiopia SAUDI ARABIA : • 2008 JV WITH AL RASHID FAMILY OFFICE • LARGEST EXPLORER BEFORE RECENT ARRIVALS • 2 DISCOVERIES – ADVANCING TOWARDS FINAL FEASIBILITY: • HAWIAH (COPPER & GOLD) (PFS COMPLETED) • JIBAL QUTMAN
Slide 4: Corporate Overview
•net •netoperating operatingcash cashflow, flow,NPV NPVand andproduction productionprofile profilefigures figuresare areestimates. estimates. KEFI GOLD + COPPER Corporate Overview Capital Structure (AIM:KEFI) Snapshot Share price - 12 mth 0.4p - 1.5p • Circumstances in both countries restricted prog
Slide 5: The Arabian-Nubian Shield (ANS) Active Companies
KEFI GOLD + COPPER The Arabian-Nubian Shield (ANS) Active Companies 5
Slide 6: Why Ethiopia Now?
KEFI GOLD + COPPER Why Ethiopia Now? BBC: “The pace of change in Ethiopia has been so fast since Dr Abiy Ahmed became Prime Minister it is almost like observing a different country” BBC: “Mr Abiy lifted the state of emergency, ordered the release of prisoners, allowed dissidents to return home and u
Slide 7: Why Saudi Arabia Now?
KEFI GOLD + COPPER Why Saudi Arabia Now? Licencing system streamlined and transparency enhanced The National Industrial Development and Logistics Program aims for the growth to capture of maximum value in mining sector Source www.vision2030.gov.sa Hawiah Saudi Industrial development Fund: Jibal Qutm
Slide 8: Project Overview
Project Overview KEFI Resources nil in 2014 and near 5Moz in 2023 GOLD + COPPER Construction end-23 for end-2025 production Development Projects Project Stage Key Points Tulu Kapi Funding Open Pit (OP) Reserve 1.0Moz @ 2.1g/t Au. Underground Resource (UG) at 5.6g/t (Ethiopia) Stage 1 Production at 1
Slide 9: Deeply Discounted Valuation
Deeply Discounted Valuation KEFI GOLD + COPPER Market Cap 14% of NPV to KEFI MARKET CAPITALISATION ONLY 14% OF ATTRIBUTABLE TOTAL PROJECT NPV (USDM) Kefi Market Cap (USDm) 34 NPV,8% (USDm) 28 74 159 0 50 100 150 200 250 300 Jibal Qutman Hawiah Tulu Kapi Assumptions: 2023 NPV’s of advanced projects J
Slide 10: Attractive Valuation vs. Peer Group of African Gold Companies
Attractive Valuation vs. Peer Group of KEFI GOLD + COPPER African Gold Companies (Source: Orior Capital - 31 Aug 23) US$ 3,000 African gold companies US$ African gold companies Enterprise Value 300 Enterprise Value per oz of 2,500 per oz of production, measured and indicated 250 2,000 planned or 202
Slide 11: Syndicate Structure of Partners, Regional Investors, Banks and Contractors
Syndicate Structure of KEFI GOLD + COPPER Partners, Regional Investors Banks and Contractors Regional Investor/s via redeemable Public Shareholders convertible loan (at KEFI’s election) KEFI Gold and Copper plc c.25% c. 85% GMCO ARTAR KEFI Ethiopia c.15% Ethiopian Partners c.75% Saudi Arabia c.85% T
Slide 12: 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 13: 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 14: Board of Directors
KEFI GOLD + COPPER KEFI Board of Directors Industry-Specialist Oversight & Support 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
Slide 15: Strong Operational Leadership
KEFI GOLD + COPPER Strong Operational Leadership Team in Place Eddy Solbrandt – Chief Norman Green – Development Operating Officer Norman is a graduate mechanical and professional engineer with the key experience Eddy began his career in the mining of having managed large mining and refining industr
Slide 16: 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 16
Slide 17: Tulu Kapi - an Excellent First Project
Tulu Kapi KEFI GOLD + COPPER - an Excellent First Project Uncontaminated site and community: • No legacy social issues or abnormal expectations • No legacy contamination of environment • No artisanal interest or competition • A community that is keen to engage Clean unspoilt ownership structure: • N
Slide 18: KEFI
KEFI GOLD + COPPER 7
Slide 19: Tulu Kapi Summary Economics
Tulu Kapi Summary Economics KEFI GOLD + COPPER At Current Consensus Gold Price US$1,850/oz NPV, IRR & Valuation Leveraged IRR @ Construction Start To Other Equity Holders 40.7% Leveraged NPV8% @ Construction Start to Other Equity Holders1 229.1 EBITDA (Average of first 3 production years) 142.5 Ente
Slide 20: 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 20
Slide 21: Tulu Kapi: Well Understood
Tulu Kapi: Well Understood 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 21
Slide 22: We have Uncovered and Sampled the Deposit
KEFI We have Uncovered and Sampled the Deposit GOLD + COPPER 22
Slide 23: Tulu Kapi: Mine and Process Plant Design Completed
KEFI Tulu Kapi : Mine and Process Plant Design Completed GOLD + COPPER Below: 3-D image of open pit and underground deposit Above: 3-D image of plant designed for Tulu Kapi
Slide 24: Tulu Kapi Site Surface Layout
KEFI GOLD + COPPER Tulu Kapi Site Surface Layout
Slide 25: Tulu Kapi Site Open Pit at Surface
KEFI GOLD + COPPER Tulu Kapi Site Open Pit at Surface Showing Adjacent Waste Dumps for Revegetation
Slide 26: Tulu Kapi Open Pit
KEFI GOLD + COPPER Tulu Kapi Open Pit Showing Mineralised Zones Below Surface
Slide 27: Long Section Showing Planned Underground Development
Long Section Showing Planned KEFI GOLD + COPPER Underground Development to Access Ore Outside Open Pit 27
Slide 28: 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 28
Slide 29: 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 GMCO (ARTAR) holds 15 exploration licences and further application
Slide 30: Hawiah VMS Project
KEFI GOLD + COPPER Hawiah VMS Project Hawiah was discovered in September 2019 and now ranks as one of the: • top 3 major base metal projects in Saudi Arabia; and • top 15th percentile VMS projects worldwide Hawiah is well located close to major infrastructure and is expected to be brought into produ
Slide 31: Comparison of Existing Operating Mines in Saudi to Kefi's Projects
Comparison of Existing Operating Mines KEFI GOLD + COPPER in Saudi to Kefi’s Projects AMAK GMCO (KEFI) 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 Operatin
Slide 32: 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 33: 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 34: Hawiah Copper-Gold Project Resource Statement and Classification
KEFI GOLD + COPPER Hawiah Copper-Gold Project Resource Statement and Classification 2021 2022 Total Resource 24.9 29.0 • Major greenfield discovery made in September 2019 Cu Grade (%) 0.9% 0.9% • 42,000m drilling programme over 3 years Au Grade (g/t) 0.62 0.67 Indicated Resource (Mt) 10.9 12.4 • Min
Slide 35: New VMS Project
New VMS Project KEFI GOLD + COPPER 4 Horizons of a VMS System Exposed for the First Time at a Recently Granted Licence Abu Salal 35
Slide 36: Thank You
KEFI GOLD + COPPER Thank You Email: info@kefi-goldandcopper.com @kefiminerals KEFI Gold and Copper Website: kefi-goldandcopper.com 36
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