KEFI Gold and Copper PLC · LSE:KEFI
KEFI Gold and Copper — KEFI Minerals — Mining Show Dubai October 2018
36 slides from KEFI Gold and Copper's conference presentation, October 2018
Slide 1: Mining Show Dubai October 2018
Mining Show Dubai October 2018 Established in the Arabian Nubian Shield Ethiopia and Saudi Arabia • 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
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: 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 4: KEFI's Cornerstone Asset Tulu Kapi is in Ethiopia's largest gold region
KEFI’s Cornerstone Asset Tulu Kapi is in Ethiopia’s largest gold region Artisanal mines, prospects and major Au and Cu deposits in Ethiopia 4
Slide 5: 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 recently installed younger national leaders and are demonstrably pro-development • In both countr
Slide 6: Ethiopia 2018 Developments Relevant for KEFI
Ethiopia 2018 Developments Relevant for KEFI • April 18: appointment of new PM Dr Abiy Ahmed – smooth leadership change. Lifted the State of Emergency that had prevailed for 2 years and introduced initiatives that have been welcomed inside and outside Ethiopia. • April-Aug 18: new Mines Ministry, ne
Slide 7: Corporate Overview
Corporate Overview Summary Summary (1) AIM code KEFI Started exploring Arabian-Nubian Shield 2008 Share price - 12 mth 1.7p (low)/4.80 (high) Market Cap £12M. Planned 54% beneficial interest in Tulu Kapi has NPV Share price (8/10/2018) 2.1p £44M and grows to £75M at start of production 2020 Shar
Slide 8: KEFI Equity Finance Structure
KEFI Equity Finance Structure Institutions Board/Management/Contractors Public 30% 15% 55% Artar 60% G&M 40% KEFI Minerals Saudi Arabia Saudi Arabia plc 100% KEFI Ethiopia Past $60M equity ANS Mining 23% 54% New $30M equity Tula Kapi Gold Mines (TKGM) Govt. of Ethiopia New $20M equity 23% Ausdrill L
Slide 9: ANS Mining ("ANS")
ANS Mining (“ANS”) • ANS formed in 2018 specifically for investment into Tulu Kapi alongside KEFI and the Government • ANS signed binding agreement in September 2018, for investment $30-38M (£22.5-28.5M) • 1st instalment $9M in Dec 18, to cover TKGM’s: • finance closing costs borne by KEFI to date •
Slide 10: KEFI Equity Finance Structure
KEFI Equity Finance Structure Institutions Board/Management/Contractors Public Bond Holders 30% 15% 55% $160M bonds Principal and Interest Payments 60% 40% 100% Finance SPV Artar G&M KEFI Minerals On-Site Saudi Arabia Saudi Arabia plc Cost Overrun Guarantee Infrastructure 100% KEFI Ethiopia Past $60
Slide 11: Ethiopian Projects
Ethiopian Projects View a video summarising KEFI’s projects in Ethiopia here 11
Slide 12: 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 13: 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 14: 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 15: 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 16: Saudi Arabian Projects
Saudi Arabian Projects View a video summarising KEFI’s projects in Saudi Arabia here 16
Slide 17: 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 18: 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 19: 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 20: 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 21: 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 22: 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 22
Slide 23: 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 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 Mark Wellesley-Wood, Non-Executive Chair, Chair Technical Review Committee – BEng (Mining) Mark is a mining engineer, with over 40 years’ experience in both the mining industry and investment banking. He has been closely involved in mining activities in Africa, having started his career on
Slide 28: KEFI Senior Management
KEFI Senior Management Managing Director and Finance Director Plus…. David Munro - Operations Eddy Solbrandt - Systems Brian Hosking - Planning Norman Green – Development David began his career as a mining engineer in Eddy began his career in the mining Brian began his career as a geologist Norman i
Slide 29: Other Appendices
KEFI MINERALS OTHER APPENDICES
Slide 30: 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 31: 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 32: 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 33: 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 34: 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 09/10/2018 34
Slide 35: 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 09/10/2018 35
Slide 36: Thank You
KEFI MINERALS THANK YOU