West African Resources Ltd · ASX:WAF

West African Resources — Shareholder Meeting (May 2022)

25 slides from West African Resources's shareholder meeting presentation, May 13, 2022

  1. Slide 1: West Africa's Emerging Mid Tier Producer - Annual General Meeting

    For personal use only WEST AFRICA’S EMERGING MID TIER PRODUCER TARGETING +400,000OZPA GOLD PRODUCTION BY 2025 ANNUAL GENERAL MEETING 13 MAY 2022

  2. Slide 2: Important Notice

    IMPORTANT NOTICE . IMPORTANT NOTICE AND DISCLAIMER Mr Silvio has sufficient experience which is relevant to the style of mineralisation and type of All statements other than statements of historical fact included in this announcement including, deposit under consideration and to the activity which h

  3. Slide 3: West Africa's Newest Gold Producer

    WEST AFRICA’S NEWEST GOLD PRODUCER A I M I NG FO R + 4 0 0, 0 00 O Z PA G O L D P RO D U CTI O N BY 2 02 5 2022 Mineral Ore Production Exploration Market For personal use only Guidance Resources Reserves Target Permits Capitalisation 220 - 240 Koz 11.6 Moz 1.7 Moz 2.5 Moz +2,000km2 A$1,205m AISC No

  4. Slide 4: Why West Africa? Golden Potential

    WHY WEST AFRICA? GOLDEN POTENTIAL For personal use only West Africa is one of the most attractive mining regions globally with many of the world’s leading producers 1,2  No. 1 Region for globally significant gold discoveries  2nd largest gold producing region globally  78% growth in production in

  5. Slide 5: Capital Structure

    CAPITAL STRUCTURE ASX: WAF Analyst Coverage1 For personal use only Total Ordinary Shares on Issue 1,021m Euroz Hartleys Mike Millikan Options and performance rights on issue 12.1m Macquarie Andrew Bowler Top 20 Shareholders2 58% Sprott Brock Salier Cash at 30 April 2022 US$120m Argonaut John MacDona

  6. Slide 6: West African Project Locations

    WEST AFRICAN PROJECT LOCATIONS For personal use only 6

  7. Slide 7: Gold Operations

    WEST AFRICAN RESOURCES LTD G O L D O P E R AT I O N S For personal use only 7

  8. Slide 8: Sanbrado Gold Mine Key Project Metrics

    SANBRADO GOLD MINE KEY PROJECT METRICS For personal use only South-central Burkina Faso, West Location Africa Ownership WAF 90%; BF Government 10% Contract open-pit and underground Type mining Resources 80Mt at 1.8 g/t for 4.9 Moz gold 1. Reserves 26Mt at 2.0 g/t for 1.7 Moz gold 1. Reserves + 28Mt

  9. Slide 9: Outstanding History of Resource Growth

    WEST AFRICAN RESOURCES LTD O U TS TAN DI NG H I S TO RY O F R E S O U RC E G R O W T H For personal use only  Mineral Resources up 127 % on prior 14,000,000 year to 302 Mt at 1.2 g/t for 11.6 million oz gold. 12,000,000  Conversion of 1.3Moz Toega gold deposit 13.1Mt at 1.7 g/t Au for 10,000,000 0

  10. Slide 10: Sanbrado Production Outlook to 2033

    WEST AFRICAN RESOURCES LTD S ANB RADO PRO DUCT I O N O UT L O O K TO 203 3 For personal use only  2022 unhedged gold production guidance: 220,000 - 240,000 oz at AISC of US$1,040 - 1,100/oz.  Average annual production of 198,000oz gold 2022 – 2031, production target 75% Ore Reserves 25% Inventory.

  11. Slide 11: Development – Kiaka Project

    WEST AFRICAN RESOURCES LTD DEVELOPMENT – KIAKA PROJECT For personal use only 11

  12. Slide 12: Kiaka Overview

    KIAKA OVERVIEW WA F + 40 0 K O Z PA P O T E NT I A L B Y 20 2 5 For personal use only  6.8Moz gold Mineral Resource, 220.9Mt at 1.0 g/t Au (JORC 2012)  Low strip ratio, oxide ore from surface.  Free-milling metallurgy, conventional CIL test work delivering c. 90% gold recovery  More than 190,000

  13. Slide 13: Kiaka Gold Project: A Deposit of Scale

    KIAKA GOLD PROJECT A DEPOSIT OF SCALE 6.8MOZ GOLD Significant drilling results from the project: – KDH339: 180m at 1.9 g/t Au from 355m For personal use only – KDH181: 206m at 1.6 g/t Au from 313m – KDH05: 208m at 1.6 g/t Au from 30m – KRD74: 132m at 2.3 g/t Au from 23m – MET48: 166m at 1.7 g/t Au f

  14. Slide 14: Kiaka Cross Section 5250N

    KIAKA OVERVIEW A DEPOSIT OF SCALE - CROSS SECTION 5250N For personal use only 14

  15. Slide 15: Kiaka Cross Section 5450N

    KIAKA OVERVIEW A DEPOSIT OF SCALE - CROSS SECTION 5450N For personal use only 15

  16. Slide 16: Kiaka Cross Section 5600N

    KIAKA OVERVIEW A DEPOSIT OF SCALE - CROSS SECTION 5600N For personal use only 16

  17. Slide 17: Indicative Kiaka Development Timeline

    INDICATIVE KIAKA DEVELOPMENT TIMELINE WA F A I M S F O R + 4 0 0 K O Z PA G O L D P R O D U C T I O N B Y 2 0 2 5 Key Goals For personal use only  WAF to redeploy experienced feasibility and development team of staff and consultants that delivered Sanbrado 6 months ahead of schedule and US$20m unde

  18. Slide 18: ESG: Our Commitment

    ESG OUR COMMITMENT For personal use only “Integrating sustainability into our operations with a long term view; beyond production, beyond closure for a positive mine legacy” ENVIRONMENTAL OFFICERS  Putting our environmental, social, health, security management system into action  Progressive rehab

  19. Slide 19: ESG: Making a Positive Impact

    ESG M A K I N G A P O S I T I V E I M PA C T For personal use only Positive Social Impact from Sanbrado in education and health  Construction of infrastructure and electrification of new schools  Livelihood diversification training aimed at women, youth and vulnerable members of the community  He

  20. Slide 20: Building a Strong Workforce

    BUILDING A STRONG WORKFORCE OUR TEAM For personal use only  Total WAF workforce 1,300  Diversity being achieved through good employment practices ₋ 90% from Burkina Faso, 10% Expatriate ₋ Gender ₋ 60% of senior ops roles from Burkina Faso ₋ Social and ethnic backgrounds ₋ 50% of site workers from

  21. Slide 21: Upcoming Catalysts

    UPCOMING CATALYSTS 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 For personal use only  Q2 2022 Exploration results from M1 South UG strike extensions and open-pit targets within trucking distance of Sanbrado and Kiaka.  Q2 2022 Annual report for 2021 and maiden ESG report.  Late Q2 2

  22. Slide 22: Why Invest

    WHY INVEST 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 For personal use only • Quality board and management team aligned with shareholders TEAM • Building a reputation consistent and reliable delivery GOLD • +220,000oz gold production 2022 at AISC of <US$1100/oz EXPOSURE • 11.6Moz unhe

  23. Slide 23: Mineral Resources and Reserves

    MINERAL RESOURCES AND RESERVES SANBRADO & KIAKA PROJECTS MINERAL RESOURCES 31 DECEMBER 2021 For personal use only S A N B R A D O P R O J E C T O R E R E S E RV E S 3 1 D E C E M B E R 2 0 2 1 For further details, please refer to the ASX announcement released by West African on 22 February 2022 enti

  24. Slide 24: Production Target: Sanbrado Gold Operation

    PRODUCTION TARGET S A N B R A D O G O L D O P E R AT I O N For personal use only 1 Tonnes, grade and contained metal have been rounded to 2 significant figures to reflect the accuracy of the estimates. Rounding errors may occur. Sanbrado’s 10-year production outlook is based on 75 % Reserves and 25

  25. Slide 25: West Africa's Newest Unhedged Gold Producer

    For personal use only WEST AFRICAN RESOURCES LTD WE ST AF RI CA’S NEW ES T UNHE DG E D G O L D P RODU CE R www.westafricanresources.com A S X : WA F

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