West African Resources Ltd · ASX:WAF
West African Resources — Mines and Money Online 2020
19 slides from West African Resources's conference presentation, Sep 1, 2020
Slide 1: Africa's Newest Unhedged Gold Producer
For personal use only WEST AFRICAN RESOURCES LTD Mines and Money Online 1 – 3 September 2020 AFRICA’S NEWEST UNHEDGED GOLD PRODUCER
Slide 2: Important Notice
IMPORTANT NOTICE IMPORTANT NOTICE AND DISCLAIMER consideration and to the activity which he is undertaking to qualify as a Competent Person (or “CP”) as defined in the 2012 For personal use only This presentation contains “forward-looking information” within the meaning of securities legislation, in
Slide 3: West Africa's Newest Gold Producer
WEST AFRICA’S NEWEST GOLD PRODUCER Sanbrado build and commissioning complete 10 weeks ahead of For personal use only schedule and US$20m underbudget Currently processing oxide open-pit and underground development ore, first stoping ore expected in late Q3 2020 Targeting +300,000 ounces unhedge
Slide 4: Capital Structure and Analyst Coverage
CAPITAL STRUCTURE AND ANALYST COVERAGE ASX: WAF Analyst Coverage2 For personal use only Total Ordinary Shares on Issue 875.8m Euroz Andrew Clayton Options and performance rights on issue 13.1m Hartleys Mike Millikan Top 20 Shareholders 56% Macquarie Andrew Bowler Cash at 30 June 2020 US$57.4m Sprott
Slide 5: Experienced Board and Management
EXPERIENCED BOARD AND MANAGEMENT For personal use only BOARD OF DIRECTORS SENIOR MANAGEMENT RICHARD HYDE STEWART FINDLAY MATTHEW WILCOX VINCENT MOREL Executive Chairman & Non-Executive Director Chief Development GM Exploration and Chief Executive Officer Banking & Finance Officer New Projects Founde
Slide 6: Sanbrado Gold Project: First Gold Ahead of Schedule
SANBRADO GOLD PROJECT FIRST GOLD AHEAD OF SCHEDULE AND US$20M UNDER BUDGET For personal use only 6
Slide 7: COVID-19 Global Pandemic Response
WEST AFRICAN RESOURCES LTD C O V I D - 1 9 G L O B A L PA N D E M I C R E S P O N S E For personal use only WAF acted early in response to COVID- 19 implementing Western Australian Department of Health guidelines February 2020 Educational programs held with our host communities No impact to suppl
Slide 8: E & S Commitments
SANBRADO GOLD PROJECT E & S COMMITMENTS For personal use only Environmental and Social Baseline studies for the ESIA and RAP were undertaken from 2015-2019 Environmental and RAP approvals granted in 2018. WAF community team meeting local farmers during COVID-19 global pandemic E & S continuous
Slide 9: Production Update to June 2020
PRODUCTION UPDATE TO JUNE 2020 R A M P I N G U P TO F U L L P R O D U C T I O N AT S A N B R A D O Q 3 2 0 2 0 For personal use only Year to June 30 2020 Production Highlights First ore to the mill 8th March 2020 First gold 18th March 2020 Commercial production achieved Q2 2020 937,108t processe
Slide 10: M1 South Underground Development Progress
M1 SOUTH UNDERGROUND DEVELOPMENT PROGRESS For personal use only 1 2 Decline +200m below surface level Total development +2,200m First development ore processed April 2020 First stoping 3 ore expected September 2020 4 10
Slide 11: Sanbrado Gold Project 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 Au Open-pits: 1.0 Moz a
Slide 12: Sanbrado Gold Project M1 South Deposit
SANBRADO GOLD PROJECT M1 SOUTH DEPOSIT For personal use only 2018 drilling beneath reserves include TAN18- DD228: 25m at 15 g/t Au from 862m including 5.5m at 40.4 g/t Au Deep drilling commenced SE and NW of DD228 Followed by step-down drilling 250m below reserves to follow First results expecte
Slide 13: Toega Acquisition
TOEGA ACQUISITION INCREASE TO MINE LIFE AND PRODUCTION PROFILE For personal use only WAF acquiring Toega from B2Gold and GAMS for US$45 million in staged payments Located within trucking distance (14km) of Sanbrado Existing NI43-101 Inferred Resource is 1.1Moz gold at 2.1 g/t Au, with excellent e
Slide 14: Annual Production – April 2019 DFS + UG Potential
SANBRADO GOLD PROJECT ANNUAL PRODUCTION – APRIL 2019 DFS + UG POTENTIAL AFTER Y6 For personal use only 400,000 M1 South OP 2 years, M5 OP 10 years 350,000 M1 South UG 6.5 years, Y1-6 average 100Koz gold TAN18-DD228: 25m at 15 g/t Au from 862m including 5.5m at 40.4 g/t Au 220m beneath current
Slide 15: Near-Term Catalysts
NEAR-TERM CATALYSTS RAMPING UP TOWARDS FULL PRODUCTION Q3 2020 For personal use only Completed build and commissioning Q1 2020 Commenced underground ore development Q1 2020 Completed commissioning and first gold pour Q1 2020 Commence deep drilling at M1 South Q2 2020 Commercial gold producti
Slide 16: Mineral Resources and Reserves – Sanbrado
MINERAL RESOURCES AND RESERVES For personal use only 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
Slide 17: Mineral Resources and Reserves – Toega
MINERAL RESOURCES AND RESERVES For personal use only Cutoff Indicated Resource Inferred Resource Total TOEGA 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) January 8, 2018 Toega O/P 0.6 17,530,000 2.01 1,130,000 17,530,000
Slide 18: Why Burkina Faso?
WHY BURKINA FASO? For personal use only Underlain by Birimian gold bearing rocks 1.6 Moz gold production in 2019 Sanbrado the 14th commercial gold mine in 14 years Historically stable government and community support for gold mining Sanbrado located in relatively secure south-central Burki
Slide 19: 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 N E WE S T U N H E D G E D G O L D P R O D U C E R 19 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