West African Resources Ltd · ASX:WAF
West African Resources — Diggers & Dealers 2019
26 slides from West African Resources's conference presentation, Aug 7, 2019
Slide 1: West African Resources Ltd - Diggers & Dealers
WEST AFRICAN RESOURCES LTD Diggers & Dealers W EST A F R I C A’S EM ER G I N G G O L D PR O D U C ER 5 - 7 August 2019
Slide 2: Important Notice
IMPORTANT NOTICE IMPORTANT NOTICE AND DISCLAIMER NI 43-101 QUALIFIED PERSONS AND COMPETENT PERSONS STATEMENT This presentation contains “forward-looking information” within the meaning of securities legislation, including information relating to Information in this presentation that relates to explo
Slide 3: West African Resources 12 Month Recap
WEST AFRICAN RESOURCES 12 MONTH RECAP 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 Awarded underground wor
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 On target for +300,000 ounces gold in first 12 months of production Fully funded, unhedged and on track for gold production from open-pit oxide and free-milling underground ores, mid- 2020 Aver
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 Options and performance rights on issue 16.1m Euroz Andrew Clayton Top 20 Shareholders 55% Hartleys Mike Millikan Cash (30 June 2019) A$79m Macquarie Ben Crowley US75m drawn
Slide 6: Experienced Board and Management
EXPERIENCED BOARD AND MANAGEMENT BOARD OF DIRECTORS RICHARD HYDE MARK CONNELLY SIMON STORM IAN KERR Founder, MD & CEO Non-Exec Chairman Non-Exec Director Non-Exec Director +20 years experience in the mining +25 years experience in mining. + 25 years experience in Australian +30 years experience in m
Slide 7: Sanbrado Gold Project
SANBRADO GOLD PROJECT Project Status 50% COMPLETE Fully funded, fully permitted, tracking to budget and schedule for mid-2020 gold production 7
Slide 8: Sanbrado Gold Project - Key Project Metrics
SANBRADO GOLD PROJECT KEY PROJECT METRICS 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: 1.0 Moz at 1.6 g/t gold
Slide 9: Sanbrado Gold Project - M1 South Deposit
SANBRADO GOLD PROJECT M1 SOUTH DEPOSIT April 2019 MRE Open Pit 0-100m – 183koz at 6.3 g/t Au 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) April 2019 Probable
Slide 10: M1 South Deposit - Still Going Strong
SANBRADO GOLD PROJECT M1 SOUTH DEPOSIT +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 TAN18-DD228 670m bsl 10
Slide 11: Sanbrado Gold Project - M5 Deposit
SANBRADO GOLD PROJECT M5 DEPOSIT 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 from surface, including 1
Slide 12: Annual Production - April 2019 DFS + UG Potential After Y6
SANBRADO GOLD PROJECT ANNUAL PRODUCTION – APRIL 2019 DFS + UG POTENTIAL AFTER Y6 400,000 350,000 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 current reserves 250,0
Slide 13: Sanbrado Gold Project - 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 CIL tanks being erected on site Pipeline and water dam complete, water pumping Decline for underground advanced +200m Overa
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 Development Bissa and 8Mtpa Bouly projects, both located in
Slide 15: Process Plant Area
SANBRADO GOLD PROJECT PROCESS PLANT AREA SAG and ball mill foundations poured Reclaim chamber foundations poured All CIL tanks at full height Crusher, SAG and ball mills on site 15
Slide 16: Sanbrado Process Plant
SANBRADO PROCESS PLANT CONSTRUCTION PROGRESS 1 2 3 4 1 Generator foundations 2 Pre-leach thickener foundation 16 3 HFO day tank foundations 4 C130 Metso jaw crusher delivered to site fully assembled
Slide 17: Sanbrado Process Plant
SANBRADO PROCESS PLANT CONSTRUCTION PROGRESS 2 1 CIL Tank 1 & 2 1. CIL tanks welded on site 3 2. Welding and jacking CIL tanks 3. Ball and SAG mill foundations 17
Slide 18: M1 South Underground
M1 SOUTH UNDERGROUND CONSTRUCTION PROGRESS – M1 SOUTH PORTAL 1 2 3 1 & 2 steel sets in the M1 South portal 3 Portal and decline operational 18
Slide 19: M1 South Underground
M1 SOUTH UNDERGROUND CONSTRUCTION PROGRESS - UNDERGROUND 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 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 operational 20 Rec area, ba
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 Lined 1.5 million cubic metre WSF complete 21km pipeline and abstraction tower complete Clearing and grubbing TSF cell 1 (background) 21
Slide 22: E & S Commitments
SANBRADO GOLD PROJECT E & S COMMITMENTS Environmental and Social 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 granted in 2018 coverin
Slide 23: Near-Term Catalysts
NEAR-TERM CATALYSTS ON BUDGET AND ON SCHEDULE FOR GOLD PRODUCTION H2 2020 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 start decline Q2 2019
Slide 24: Sanbrado Project Schedule
SANBRADO PROJECT SCHEDULE CURRENT DEVELOPMENT PLAN FOR 2019 AND BEYOND 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 design and commenceme
Slide 25: Mineral Resources and Reserves
MINERAL RESOURCES AND RESERVES Cutoff Indicated Resource Inferred Resource Total SANBRADO GOLD (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 11.2 117,000 1,300,00
Slide 26: West African Resources Ltd ASX: WAF
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