Kefi Gold And Copper Plc · LSE:KEFI
Kefi Gold And Copper — Investor Presentation (November 2022)
28 slides from Kefi Gold And Copper's investor presentation, Nov 28, 2022
Slide 1: Investor Update
KEFI GOLD + COPPER Investor Update 28 November 2022 1
Slide 2: Disclaimer
KEFI GOLD + COPPER Disclaimer The information contained in this document (“Presentation”) has been prepared by KEFI Gold and Copper plc (the “Company”). While the information contained herein has been prepared in good faith, neither the Company nor any of its shareholders, directors, officers, agent
Slide 3: Corporate Overview
KEFI GOLD + COPPER Corporate Overview Capital Structure (AIM:KEFI) Progress Since IPO 2006 Share price - 12 mth 0.5p - 2.5p Geopolitics has determined our rate of progress and has Current share price 0.85p turned for the better in both Ethiopia (security and regulatory) and Saudi Arabia (regulatory)
Slide 4: Overview of KEFI's Short-Term Plans
KEFI GOLD + COPPER Overview of KEFI’s Short-Term Plans 2022 Plan: • Tulu Kapi, Ethiopia • Completed: costs updated, finance plan agreed and submitted for formal approvals • Expected: definitive agreements signed • Jibal Qutman, Saudi Arabia: • DFS well advanced. Site access November allows completio
Slide 5: Current NPV £226M & 2026 NPV £426M
KEFI Current NPV £226M & 2026 NPV £426M GOLD + COPPER Comments on NPV (Net Present Value) and the Calculations MKT CAP V ATTRIBUTABLE £NPVs 450 400 All three of KEFI’s advanced projects report NPV’s based on discounting at 8%: 350 300 • recoverable JORC Resources as reported up to end 2021 • Consens
Slide 6: Valuation Benchmarks
Valuation Benchmarks KEFI GOLD + COPPER African Gold Companies Orior Capital (left) African gold companies Enterprise Value per oz of production, planned or 2022/23 guidance (right)African gold companies Enterprise Value per oz of measured and indicated resource (left) EV/NPV, selected African gold
Slide 7: Structure of KEFI
Structure of KEFI Partners, Regional Investors GOLD + COPPER Banks and Contractors UK and Saudi Regional Groups Shareholders Focused on Ethiopia KEFI Gold and Copper plc 30% 100% 70% G&M ARTAR KEFI Ethiopia Saudi Arabia 70-80% Tulu Kapi Gold 20-30% Ethiopian Govt. Mines (TKGM) Mine & Plant Proposed
Slide 8: Companies in the Arabian-Nubian Shield
KEFI Companies in the Arabian-Nubian Shield GOLD + COPPER • Block 14 - Sudan (79.9Mt @ 1.11g/t for 2.85Moz Au) • Feasibility stage • Acquired by Perseus Mining for C$215M in Feb 2022 • Acquisition cost of $60 per resource oz “We are also investigating projects across the Nubian and Arabian Shields i
Slide 9: Security
KEFI GOLD + COPPER Security Independent Assessors’ Security Risk Rating for Saudi Arabia is LOW and for Ethiopia is MEDIUM. • Saudi: KEFI considers Security Risk for the development to be LOW, partly due to country risk subsiding this year and partly because of systems installed and planned by the C
Slide 10: Board of Directors
KEFI GOLD + COPPER Board of Directors Harry Anagnostaras-Adams – Executive Chair – B. Comm, MBA, Fellow of Australian Institutes of Management & Company Directors Harry was founder or co-founder of Citicorp Capital Investors Australia, investment company Pilatus Capital, Australian Gold Council, EME
Slide 11: Ethiopia - Tulu Kapi Gold Mine
KEFI GOLD + COPPER Ethiopia - Tulu Kapi Gold Mine Full Funding Package Finalised – Entering Into Definitive Documentation 11
Slide 12: Mine Plan and Cash Flows
KEFI GOLD + COPPER Mine Plan and Cash Flows At Current Consensus Gold Price $1,650/oz US$M CFADS & Debt Service DSCR Tonnes Mined & Mined Grade 7.00x g/t 95 22.0 3.0 85 6.00x 20.0 2.8 75 18.0 Material Mined Mt) 5.00x 2.6 65 16.0 2.4 14.0 2.2 55 4.00x 12.0 2.0 45 3.00x 10.0 1.8 35 8.0 1.6 25 2.00x 6.
Slide 13: Tulu Kapi Summary Financial Measures
KEFI Tulu Kapi Summary Financial Measures GOLD + COPPER TK Stats 100% Basis THIS MODEL LIVE Gold 1650 and Silver 21 LIVE SCENARIO IRR & Valuations Based on 2021 Resources Only Leveraged NPV8% @ Construction Start 1 153.4 Leveraged NPV8% @ 2026 364.5 EBITDA (Average of first 7 production years) 128.0
Slide 14: Corrected Technical Plans During 1st Years
KEFI GOLD + COPPER KEFI Corrected Technical Plans During 1st 2 Years. Re-Worked 130,000 metres of Drilling & Engineering 14
Slide 15: We Then Uncovered the Deposit and Sampled the Grade
KEFI We Then Uncoveredtheand GOLD + COPPER Sampled the Grade of Deposit 15
Slide 16: We Fully Designed the Mine and Process Plant
KEFI GOLD + COPPER We Fully Designed the Mine and Process Plant Above: Truck and personnel of the contractor Below: 3-D image of open pit and underground deposit Above: 3-D image of plant designed for Tulu Kapi Below: Similar factory built by same contractor
Slide 17: Tulu Kapi Site Surface Layout
KEFI GOLD + COPPER Tulu Kapi Site Surface Layout
Slide 18: Tulu Kapi Site Open Pit at Surface
KEFI GOLD + COPPER Tulu Kapi Site Open Pit at Surface Showing Adjacent Waste Dumps for Revegetation
Slide 19: Tulu Kapi Open Pit
KEFI GOLD + COPPER Tulu Kapi Open Pit Unveiling Mineralised Zones Below Surface
Slide 20: Underground Development
Underground Development KEFI GOLD + COPPER to Access Ore Outside Open Pit and to Drill Extensions of the System from Underground 20
Slide 21: Every Aspect Checked by International Experts
Every Aspect Checked by International Experts KEFI GOLD + COPPER So As to Give Confidence About Ethiopia’s First Major Modern Mine Security Due Diligence Financial Model Environmental & Social Definitive Feasibility Study Resources & Reserves 21
Slide 22: Saudi Arabia Advanced Projects: Jibal Qutman and Hawiah
KEFI GOLD + COPPER Saudi Arabia 2 Advanced Projects: Jibal Qutman Gold and Hawiah Copper-Gold Plus a Large Regional Portfolio 22
Slide 23: Saudi Projects
KEFI GOLD + COPPER Saudi Projects Qunnah-Hilit 2023 Milestones: Umm Ash-Shalaheeb Jibal Qutman • DFS • Mining Licence • Financing Jadid Al Qahtanah • Start Construction • Expand Resources Hawiah • PFS • Trigger DFS Hawiah 3 EL • Expand Resources Al Miyah Jibal Qutman MLA Regional Targets: • Initial
Slide 24: Comparison of Key Advanced Mining Projects in Saudi Arabia
Comparison of Key Advanced Mining KEFI GOLD + COPPER Projects in Saudi Arabia AMAK G&M Copper-Gold Mine/Project Al Masane UG Hawiah OP + UG Mineral Resources 8.6Mt @ 1.0% Cu, 5.0% Zn, 1.0g/t Au, 38g/t Ag 24.9Mt @ 0.9% Cu, 0.9% Zn, 0.6g/t Au, 10g/t Ag Processing Plant 0.8Mtpa Operating 2.0Mtpa PFS Go
Slide 25: Jibal Qutman Gold Project
KEFI GOLD + COPPER Jibal Qutman Gold Project • Jibal Qutman is located in the southern portion of the Nabitah Suture zone (Nabitah-Tathlith), a shield wide belt hosting multiple ancient gold mines and known occurrences, as well as the major Ad Duwayhi and Mansourah-Massarah Gold Mines. • 2012-2016 e
Slide 26: Jibal Qutman Geology and Resource
KEFI GOLD + COPPER Jibal Qutman Geology and Resource • Typical shear-hosted orogenic gold deposit comprising a weathered oxide cap and lower un- weathered ore body • There are currently 7 recognised zones of mineralisation • Resource drilling has so far only been explored to a depth of ~125m and the
Slide 27: Hawiah Project Resource Statement and Classification
KEFI GOLD + COPPER Hawiah Project Resource Statement and Classification 2020 2021 • Major greenfield discovery made in September 2019 Total Resource 19.3 24.9 • 42,000m drilling programme over 3 years Cu Grade (%) 0.9 0.9 Au Grade (g/t) 0.6 0.62 • Mineral Resource of 24.9Mt (0.9% copper, 0.85% zinc,
Slide 28: Thank You
KEFI GOLD + COPPER Thank You Email: info@kefi-goldandcopper.com @kefiminerals KEFI Gold and Copper Website: kefi-goldandcopper.com 28
KEFI Gold and Copper — Investor Presentation (November 2022) on 6ix