Kefi Gold And Copper Plc · LSE:KEFI
Kefi Gold And Copper — Swiss Mining Institute 2024
28 slides from Kefi Gold And Copper's conference presentation, Mar 20, 2024
Slide 1: An Early-Mover in the Arabian-Nubian Shield
AN EARLY-MOVER IN THE ARABIAN- NUBIAN SHIELD SWISS MINING INSTITUTE 20th-21st MARCH 2024 kefi-goldandcopper.com
Slide 2: Disclaimer
Disclaimer ARABIAN - NUBIAN SHIE 2 kefi-goldandcopper.com Focused On Arabian- Nubian Shield
Slide 3: Entered Arabian-Nubian Shield 2008 Focused on Saudi Arabia and Ethiopia
Gold/Copper Deposit N KEFI MINERALS ETHIOPIA KEFI (G&M JV) EL KEFI (G&M JV) ELA Entered Arabian-Nubian Arabian Nubian Shield Shield 2008 Focused on Saudi Arabia and Ethiopia Jibal Qutman Hawiah (VHMS) SAUDI ARABIA ▪ 2008 JV with ARTAR ▪ 2 major discoveries – advancing towards development: ▪ Hawiah (
Slide 4: Development Projects and Exploration Pipeline
Development Projects and Exploration Pipeline Development Projects Stage Key Points Tulu Kapi (ETHIOPIA) Funding Ore Reserve of 1.0Moz @ 2.1g/t Au Starting with open pit at average 144koz Au p.a. @ AISC $908/oz over 7 years Jibal Qutman (SAUDI) Feasibility Resource of 0.7Moz at 0.8g/t Au Planning OP
Slide 5: Growing Interest in the Arabian-Nubian Shield
Growing Interest in the Arabian-Nubian Shield Ivanhoe Electric and Eurasian Resources Group entered Saudi Arabia in 2023; promoting major exploration programs ARABIAN - NUBIAN SHIE Allied Gold raised $267M in IPO, of which $185M was for Ethiopia 5 kefi-goldandcopper.com Focused On Arabian- Nubian Sh
Slide 6: Current Priorities – all Material
Current Priorities – all Material KEFI CAPITAL STRUCTURE GOLD + COPPER Tulu Kapi Gold Project: • Project Finance secured Debt Capital: of US$190M between 2 banks AIM (KEFI) ▪ 2nd Bank Approvals, 1st bank having already approved. 52 Week High- Low 1.2p – 0.5p ▪ Project-Level Equity Risk Notes: of US$
Slide 7: Comparative Valuations
Comparative Valuations KEFI Undervalued vs. Peers, despite High Quality Projects African gold companies Enterprise Value per oz African gold companies Enterprise Value per oz of production US$ of Measured and Indicated Resource 250 200 150 100 50 0 TRE… WAF… PDI.… NCA… ORE… PRU… CMCL THX.V HUM.L PAF
Slide 8: KEFI Board of Directors
KEFI Board of Directors Experienced Industry Specialists for the Region Harry Anagnostaras-Adams John Leach Mark Tyler Richard Robinson Alistair Clark Executive Chair – B. Comm, MBA, Finance Director – BA Non-Executive, Chair Audit Non-Executive – representative with Non-Executive – Chair of Fellow
Slide 9: KEFI – Key Support Executives
KEFI – Key Support Executives Key Support Executives Eddy Solbrandt – Chief Operating Officer Robert Williams - Corporate & Technical Studies Eddy began his career in the mining industry in 1986 and Rob began his career in mining as an underground has since worked in open cut and underground miner i
Slide 10: Syndicate Structure of Partners, Regional Investors, Banks and Contractors
Syndicate Structure of Partners, Regional KEFI GOLD + COPPER Investors Banks and Contractors Public Shareholders Regional Investor/s via redeemable convertible loan (at KEFI's election) 85/100% 25% GMCO 0/15% ARTAR KEFI Ethiopia Ethiopian Partners 75% Saudi Arabia c.85/100% .15/30% Tulu Kapi Gold Pr
Slide 11: Tulu Kapi Gold Mine
ARABIAN - NUBIAN SHIE • Ready for Construction Tulu Kapi Gold • Full funding package agreed in-principle • Preparation for signing US$320 million Project Mine Finance package. 11 kefi-goldandcopper.com Focused On Arabian- Nubian Shield
Slide 12: Tulu Kapi Project Economics
Tulu Kapi Project Economics NPV of US$377m; >140koz gold per year; US$908/oz AISC TK Stats 100% Basis GOLD PRICE 1,862 NPV, IRR & Valuation Leveraged IRR @ Construction Start 35.8% Leveraged NPV @ 8%. At Construction Start US$M 377.0 Leveraged NPV @ 8%. At Production Start US$M 543.1 EBITDA (Average
Slide 13: Ethiopia - 2023 Milestones Achieved
Ethiopia - 2023 Milestones Achieved H1-2023 ✓ Costings update ✓ New mining contractor appointed ✓ Finance plan agreed ✓ All contracting, investment and lending terms updated ✓ Lenders update their T&Cs for other parties to confirm documents ✓ Signing of Final Umbrella Agreement for Tulu Kapi project
Slide 14: Ethiopia - 2024 Expected Milestones Ahead
Ethiopia - 2024 Expected Milestones Ahead 2024 in Ethiopia - Launch Tulu Kapi and Restart Ethiopian Exploration H1-2024 • Preparations for signing US$320M Project Finance package: • Approvals by rest of Syndicate to follow the recent approval of Lead Bank, with conditions • Preparation of community
Slide 15: Latest African Gold Industry Trade Sale Metrics
Latest African Gold Industry Trade Sale Metrics Orecorp: similar but larger deposit in Tanzania but Tulu Kapi has advanced financing KEFI Gold & Copper Orecorp Code KEFI.L ORR.AX Project Tulu Kapi Nyanzaga Location Oromia, Ethiopia (360km west of Addis Adaba) NW Tanzania (60km southwest of the city
Slide 16: Mineral Resources & Ore Reserves
Mineral Resources & Ore Reserves 1.72m oz of contained gold at 2.65g/t Resource Area Tonnes Gold Contained Gold Category (millions) (g/t) (m oz’s) Indicated Above 17.7 2.49 1.42 1,400m RL Inferred 1.3 2.05 0.08 Sub-Total 19.0 2.46 1.5 Indicated Below 1.1 5.63 0.20 1,400 RL Inferred 0.1 6.25 0.02 Sub
Slide 17: Tulu Kapi Resource Drilling and Trenching
Tulu Kapi Resource Drilling and Trenching ARABIAN - NUBIAN SHIE 73,109m of Diamond drilling 49,625m of RC Drilling 4,818m of Geotechnical Drilling 6,051m of Hydrogeological Drilling 1,417m of Trenching 17 kefi-goldandcopper.com Focused On Arabian- Nubian Shield
Slide 18: Tulu Kapi Plant & Pit Shell Design
Tulu Kapi Plant & Pit Shell Design ARABIAN - NUBIAN SHIE 18 kefi-goldandcopper.com Focused On Arabian- Nubian Shield
Slide 19: Independent Experts Sign Off
Independent Experts Sign Off Tulu Kapi Signed Off by Leading Experts for the International Syndicate Security Due Diligence Financial Model ARABIAN - NUBIAN SHIE Environment & Social Definitive Feasibility Study Resources & Reserves 19 kefi-goldandcopper.com Focused On Arabian- Nubian Shield
Slide 20: Saudi Arabia
ARABIAN - NUBIAN SHIE Saudi Arabia Two a d v a n c e d p r o j e c t s a n d l a r g e r e g i o n a l p o r t f o l i o 20 kefi-goldandcopper.com Focused On Arabian- Nubian Shield
Slide 21: GMCO
GMCO ~1,000Km² License Package • GMCO holds Exploration Licenses (“EL’s”) via (ARTAR) covering ~1000 km2 and further applications (ELA’s) • All licenses being transferred into GMCO for ease of project financing • Teams mobilised onto 14 new EL’s, three times ARABIAN - NUBIAN SHIE what we were grante
Slide 22: Jibal Qutman Gold Project (near surface, orogenic gold)
Jibal Qutman Gold Project (near surface, orogenic gold) ~270Km² License Package Including 0.7moz Resource as basis for the Current DFS • A GMCO discovery on which work was suspended in 2016 during a regulatory overhaul and the site was re-accessed in late 2022 New Asfingia • Mining License Area init
Slide 23: Hawiah VMS Project (Copper-Gold-Zinc-Silver)
Hawiah VMS Project (Copper-Gold-Zinc-Silver) Top 3 base metals discovery in Saudi Arabia – working on DFS • Major greenfield discovery made in September 2019 • 101,000m drilling programme since 2019 • Mineral Resource of 29Mt at 0.89% copper, 0.94% zinc, 0.67g/t gold and 10.1g/t silver • Further nea
Slide 24: Hawiah Project - Long section displaying resource classification and open pit shells
Hawiah Project - Long section displaying resource classification and open pit shells ~ Crossroads Extension 5000m Strike > Crossroads Central Zone Camp Lode Open Pit- 11.1 Mt Underground - 17.9 Mt Resource Classification THE anoenece Facing East ep_>old GE inferres k-minerals . Caen @ Unciassifies H
Slide 25: Saudi Arabia - 2023 Milestones Achieved
Saudi Arabia - 2023 Milestones Achieved Over 180,000m of drilling at Jibal Qutman and Hawiah in 2023 Jibal Qutman Gold (“JQ”) and Hawiah Copper-Gold (“H”) - in Feasibility Study for Development 2024 and 2026: ✓ Drilling programmes lifted to 81,000m at JQ and 101,000m at H ✓ Resources and Reserves up
Slide 26: Saudi Arabia - 2024 Expected Milestones
Saudi Arabia - 2024 Expected Milestones • Complete Jibal Qutman DFS, Project Financing & Launch • Advance Hawiah to DFS • Ramp-Up Regional Exploration Jibal Qutman Gold (DFS and project financing by close of 2024) • Report drilling results at recent Asfingia high-grade discovery and other targets •
Slide 27: AMAK – listed in Saudi Arabia
AMAK – listed in Saudi Arabia Metrics vs GMCO AMAK has Similar but Smaller Deposits and has a Mkt cap of $1.3bn AMAK GMCO Copper-Gold Mine/Project Al Masane UG³ 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 Pl
Slide 28: Thank You
THANK YOU E: info@kefi-goldandcopper.com Kefiminerals KEFI Gold and Copper kefi-goldandcopper.com