West African Resources Ltd · ASX:WAF
West African Resources — 121 Conference Cape Town 2020
23 slides from West African Resources's conference presentation, Feb 3, 2020
Slide 1: West Africa's Emerging Gold Producer
For personal use only WEST AFRICAN RESOURCES LTD C a p e To w n 3-5 February 2020 WEST AFRICA’S EMERGING GOLD PRODUCER
Slide 2: Important Notice
IMPORTANT NOTICE IMPORTANT NOTICE AND DISCLAIMER COMPETENT PERSONS STATEMENT For personal use only This presentation contains “forward-looking information” within the meaning of securities legislation, including information relating to Information in this presentation that relates to exploration res
Slide 3: West African Resources 18 Month Recap
WEST AFRICAN RESOURCES 18 MONTH RECAP For personal use only 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 A
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 For personal use only On target for +300,000 ounces gold in first 12 months of production at lowest quartile AISC <US$500/oz Fully-funded, unhedged on track for Q2 2020 production from open-pit o
Slide 5: Why Burkina Faso?
WHY BURKINA FASO? Underlain by Birimian gold bearing rocks For personal use only 1.7 Moz gold production in 2018 Sanbrado the 14th commercial gold mine in 14 years Historically stable, strong government and community support for gold mining Sanbrado located in stable south-central Burkina
Slide 6: Capital Structure and Analyst Coverage
CAPITAL STRUCTURE AND ANALYST COVERAGE ASX: WAF Analyst Coverage2 Total Ordinary Shares on Issue 870.5m Argonaut James Wilson For personal use only Options and performance rights on issue 14.2m Euroz Andrew Clayton Top 20 Shareholders 56% Hartleys Mike Millikan Cash at 31 December 2019 US$58m Macqua
Slide 7: Experienced Board and Management
EXPERIENCED BOARD AND MANAGEMENT For personal use only BOARD OF DIRECTORS SENIOR MANAGEMENT RICHARD HYDE SIMON STORM MATTHEW WILCOX LUKE HOLDEN Executive Chairman & Non-Executive Chief Development GM Sanbrado Operations Chief Executive Officer Director & Co-Sec Officer Process Manager Founder, Geolo
Slide 8: March 2019
SANBRADO GOLD PROJECT For personal use only March 2019 8
Slide 9: January 2020 Project Status 90% Complete
SANBRADO GOLD PROJECT For personal use only January 2020 Project Status 90% COMPLETE Fully funded, tracking to budget and schedule for Q2 2020 gold production 9
Slide 10: Key Project Metrics
SANBRADO GOLD PROJECT KEY PROJECT METRICS High-grade UG and open-pit operation with For personal use only 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.
Slide 11: M1 South Deposit
SANBRADO GOLD PROJECT M1 SOUTH DEPOSIT April 2019 MRE For personal use only 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
Slide 12: M1 South Deposit: +700m and still going strong
SANBRADO GOLD PROJECT M1 SOUTH DEPOSIT For personal use only +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 – Step-down drilling to commence i
Slide 13: M5 Deposit
SANBRADO GOLD PROJECT M5 DEPOSIT For personal use only April 2019 Mineral Resource Estimate 51.3Mt at 1.2 g/t Au for 2.0 Moz Au 36.6Mt at 1.2 g/t Au for 1.47Moz Au (Ind) Open-pit Mining Underway 14.6Mt at 1.1 g/t Au for 0.52Moz Au (Inf) 6 months of production grade control completed April 20
Slide 14: Annual Production – April 2019 DFS + UG Potential After Y6
SANBRADO GOLD PROJECT ANNUAL PRODUCTION – APRIL 2019 DFS + UG POTENTIAL AFTER Y6 400,000 For personal use only 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
Slide 15: Project Status 90% Complete
Project Status 90% For personal use only COMPLETE SANBRADO GOLD PROJECT 15
Slide 16: For personal use only
SANBRADO GOLD PROJECT For personal use only Clockwise from top left: ROM bin apron feeder and primary crusher, 17MW power station, 16 CV1 ore stockpile, mine services area,
Slide 17: For personal use only
SANBRADO GOLD PROJECT For personal use only Clockwise from top left: 270 person camp, tailings storage facility, underground portal and storage 17 ponds, 2 million cubic metre water storage dam
Slide 18: M1 South Underground Development Progress
M1 SOUTH UNDERGROUND DEVELOPMENT PROGRESS For personal use only 1 2 Decline +160m below surface level Total development +1,500m First development ore expected March 2020 First stoping ore expected September 2020 3 4 18
Slide 19: Equipé Sanbrado
EQUIPÉ SANBRADO For personal use only 1,250 WORKERS ON SITE 96% BURKINABÉ 4% EXPATRIATE Clockwise from top left: Underground dept, Environment dept, CSR dept, staff & contractors 19 minute silence after Semafo incident.
Slide 20: 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 to 2018. Environmental and RAP approvals were granted in 2018. WAF management meeting local stakeholders post Environmental permit was granted in
Slide 21: Near-Term Catalysts
NEAR-TERM CATALYSTS ON BUDGET AND ON SCHEDULE FOR GOLD PRODUCTION MID 2020 For personal use only Commence major earthworks and civils Q1 2019 Pour first concrete, CIL tank and mill foundations Q2 2019 Complete pipeline and 2M3 water storage facility Q2 2019 First draw from US$200m Taurus Debt
Slide 22: 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 E M E R G I N G G O L D P R O D U C E R 22 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
Slide 23: Mineral Resources and Reserves
MINERAL RESOURCES AND RESERVES Cutoff Indicated Resource Inferred Resource Total SANBRADO GOLD For personal use only (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
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