Kefi Gold And Copper Plc · LSE:KEFI
Kefi Gold And Copper — UK Investor Show 2022
28 slides from Kefi Gold And Copper's conference presentation, May 21, 2022
Slide 1: UK Investor Show
KEFI GOLD + COPPER UK Investor Show 21 May 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: Investor Highlights
KEFI GOLD + COPPER Investor Highlights KEFI Gold and Copper Plc KEFI has a market cap of £30M versus portfolio NPV (1) of £348M (approx. 9 pence per share – up from 3p mid-2020 and 7p mid-2021 based on today’s 3.9B shares) NPV (1) for portfolio increased 3X since H1 2020 due to exploration and permi
Slide 4: Corporate Overview
KEFI GOLD + COPPER Corporate Overview Summary Share Chart (p) Share price - 12 mth 0.7p - 2.50p 2.5 Current share price 0.7p 2 Shares in issue 3,939M 1.5 Options & Warrants (VWAP 1.7p) 1,137M 1 Market cap £30M , $40M 0.5 0 Analyst & Broker Coverage Jun 07, 2021 Aug 31, 2021 Nov 23, 2021 Feb 18, 2022
Slide 5: Market Cap of £30M versus Group NPV £348M
KEFI GOLD + COPPER Market Cap of £30M Versus Group NPV £348M (KEFI beneficial interest only) NPV Versus Mkt Cap £M NPV £M Value of Portfolio At 31 Dec 2021 metal prices 400 KEFI Mkt Cap 30 350 29 300 TK 191 250 128 74 200 80 Hawiah 128 150 100 205 191 JQ 29 164 50 114 0 Total NPV 348 H1 2020 H2 2020
Slide 6: Industry Valuation Analogues
KEFI GOLD + COPPER Industry Valuation Analogues Source: Company data, Orior Capital (left) African gold companies Enterprise Value per oz of production, planned or 2022 guidance (right)African gold companies Enterprise Value per oz of measured and indicated resource (left) EV/NPV, selected African g
Slide 7: Group Strategy
KEFI GOLD + COPPER Group Strategy • Tulu Kapi financing package confirmed mid-2022 for full construction at start of dry season Oct 22 • To de-risk and develop the 3 projects that are all economically robust and feasible • To continue to build value by expanding the resources of all 3 and by explora
Slide 8: Road Map to Mid-Cap
KEFI GOLD + COPPER Road Map to Mid-Cap Targeted group production is 365Koz Au-Eq with KEFI net interest of 187Koz Au-Eq (of which 155Koz is Gold) 2022 2023 2024 2025 2026 Tulu Kapi (70%) Finance mid-22 Construction • Production 2024 Gold and start • Starting at 140k oz increasing to 194k oz p.a. Ope
Slide 9: The Arabian-Nubian Shield: Rare Opportunity - Ethiopia
KEFI GOLD + COPPER The Arabian-Nubian Shield Rare Opportunity - Ethiopia • Left is a cross-section of 120km of drilling completed in the decade before KEFI took control in 2014. • The Tulu Kapi Gold Deposit in Ethiopia is in a region where gold mining has taken place for thousands of years. • Tulu K
Slide 10: The Arabian-Nubian Shield: Rare Opportunity - Saudi Arabia
KEFI GOLD + COPPER The Arabian-Nubian Shield Rare Opportunity - Saudi Arabia • Left is a +4km-long surface exposure of the Hawiah orebody. The rock reveals copper-staining and easy-to detect gold mineralisation. • It was identified decades ago by the French Geological Survey as part of a cluster of
Slide 11: Frontier Market Risk Management - Appropriate Deal Structuring
KEFI GOLD + COPPER Frontier Market Risk Management - Appropriate Deal Structuring • Right is a photo of the Tulu Kapi Gold Mines syndicate. • KEFI formed the TKGM syndicate of leading banks, contractors of process plants and mining and other specialists. • The operating entity TKGM structured as a p
Slide 12: Arabian-Nubian Shield
KEFI GOLD + COPPER Arabian-Nubian Shield • TSX listed • Block 14 - Sudan (79.94Mt @ 1.11g/t for 2.85Moz) • Feasibility level • Acquired by Perseus Mining for C$215M in February 2022 • Acquisition cost of $60.35 per resource oz “We are also investigating projects across the Nubian and Arabian Shields
Slide 13: Investor Highlights
KEFI GOLD + COPPER Investor Highlights KEFI Gold and Copper Plc • KEFI has a market cap of £30M versus portfolio NPV (1) of £348M (approx. 9 pence per share – up from 3p mid-2020 and 7p mid-2021 based on today’s 3.9B shares) • NPV (1) for portfolio increased 3X since H1 2020 due to exploration and p
Slide 14: Tulu Kapi Gold Mine, Ethiopia
KEFI GOLD + COPPER Tulu Kapi Gold Mine, Ethiopia 14
Slide 15: Tulu Kapi Economic Metrics
Tulu Kapi Economic Metrics KEFI GOLD + COPPER At Gold Price US$1,591/oz Based on Open Pit Ore Reserves Only 2021 Plan (8 year LOM contract mining) Waste:ore ratio 7.4:1.0 • 1Moz ore reserve at 2.1g/t within 1.7Moz resource at 2.7g/t Au Processing rate 1.9-2.1Mtpa Total ore processed 15.4Mt • AISC of
Slide 16: Identified Funding Structure
KEFI GOLD + COPPER Identified Funding Structure Existing and Future Ethiopian Subsidiaries Shareholder of International Groups to Fund Expansion $35M KEFI Gold and Copper plc 30% 100% 100% 70% G&M ARTAR KEFI Ethiopia Saudi Arabia ~70% ~ 6% Ethiopian Private. Shares in subsidiary Tulu Kapi Gold Min.
Slide 17: Tulu Kapi Development Plan for 2022
KEFI GOLD + COPPER Tulu Kapi Development Plan for 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Re-settlement begins • Substation area • Then plant area • Then mine area Full finance close • Umbrella Agreememt • Then Individual Agmts • Then Insurances etc Begin procurement • Pricing Locked-in • Then start or
Slide 18: Tulu Kapi Development
KEFI GOLD + COPPER Tulu Kapi Development Resource grades are 2.5g/t Au for open pit and 5.7g/t Au for the underground The average grade of ore processed will be increased when the two sources are blended A DFS on mining the deeps is planned during construction Tulu Kapi Exploration Potential • Miner
Slide 19: Gold and Minerals LLC, Saudi Arabia
KEFI GOLD + COPPER Gold and Minerals LLC Saudi Arabia
Slide 20: Existing Asset Overview - Saudi Arabia
KEFI GOLD + COPPER Existing Asset Overview - Saudi Arabia Hawiah (30%) Objectives for 2022 • 2021 Mineral Resource 24.9Mt at 0.9% Cu and 0.62g/t Au • Upgrade and expand the Oxide Resource • In-situ gold equivalent of 2.2Moz versus Tulu Kapi 1.7Moz • Explore the Central Zone of the Hawiah ridgeline K
Slide 21: Regional Exploration Projects
KEFI GOLD + COPPER Regional Exploration Projects Qunnah-Hilit (2) Umm Ash-Shalaheeb (1) Jadid Al Qahtanah (1) Hawiah 3 EL + (3) Al Miyah Jibal Qutman MLA + 4 JQ ELAs (3) (4) Lorelon (5) G&M (ARTAR) holds 3 exploration licences and a further 19 applications (ELA’s) covering 1380 Km2
Slide 22: The Hawiah Project
KEFI GOLD + COPPER The Hawiah Project Wadi-Bidah Belt - Makkah Province A major greenfield discovery made in September 2019 A three year 42,000m drilling programme has so far delineated a total mineral resource of 24.9 Mt (0.9% copper, 0.85% zinc, 0.62 /t gold and 9.8 g/t silver) Hawiah ranks as one
Slide 23: 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 Cu Grade (%) 0.9 0.9 • 42,000m drilling programme over 3 years Au Grade (g/t) 0.6 0.62 • Mineral Resource of 24.9Mt (0.9% copper, 0.85% zinc,
Slide 24: Initial Al Godeyer Exploration Confirms Similarity to Hawiah
KEFI GOLD + COPPER Initial Al Godeyer Exploration Confirms Similarity to Hawiah Cu-Au VMS Mineralisation • Strong SP geophysical anomalies below gossans are similar to Hawiah • Trenching, geophysics and initial drilling indicates good continuity of Cu-Au mineralised horizon • Gold mineralisation of
Slide 25: Jibal Qutman Project
KEFI GOLD + COPPER Jibal Qutman Project Nabitah-Tathlith Belt - Asir Province • Current resource of 28 Mt containing 733k gold oz (grade 0.8g/t) • G&M submitted a Mining Licence application in 2016 • New Mining Investment Law delayed issuance of licence • G&M team working closely with the Deputy Min
Slide 26: 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
Slide 27: Jibal Qutman Geology and Resource
KEFI GOLD + COPPER Jibal Qutman Geology and Resource • JQ is a typical shear hosted orogenic gold deposit with comprising a weathered oxide cap and lower un- weathered ore body. • There are currently 7 recognised zones of mineralization • Resource drilling has so far only been explored to a depth of
Slide 28: Thank You
KEFI GOLD + COPPER Thank You Email: info@kefi-minerals.com @kefiminerals KEFI Minerals plc Website: www.kefi-minerals.com 28