KEFI Gold and Copper PLC · LSE:KEFI
KEFI Gold and Copper — KEFI Minerals — Investor Presentation (April 2018)
32 slides from KEFI Gold and Copper's investor presentation, April 2018
Slide 1: Corporate Presentation
Corporate Presentation April 2018 • Strong platform of partners, contractors & company management • Development ready projects – 140koz p.a. with potential uplift to 200koz p.a • Currently assembling development finance for production as from 2020 • Extensive exploration portfolio in both Ethiopia a
Slide 2: Disclaimer
The information contained in this document (“Presentation”) has been prepared by KEFI Minerals plc (the “Company”). While the information contained herein has been prepared in good faith, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers give, have g
Slide 3: Company Overview
Company Overview AIM listed KEFI Minerals plc (KEFI) is an exploration and development company focussed on gold and copper deposits, primarily in the highly prospective Arabian-Nubian Shield area. KEFI is currently focused on Tulu Kapi Gold Project and advancing Jibal Qutman gold project: Ethiopia –
Slide 4: The Arabian-Nubian Shield
The Arabian-Nubian Shield The Arabian-Nubian Shield (ANS) is an exposure of Precambrian crystalline rocks on the flanks of the Red Sea. Geographically the ANS includes Israel, Jordan, Egypt, Saudi Arabia, Sudan, Eritrea, Ethiopia, Yemen, and Somalia. Gold production of ANS has more than doubled in 5
Slide 5: KEFI Corporate Structure
KEFI Corporate Structure Institutions Board Public Ausdrill 32% 3% 60% 5% ARTAR KEFI Minerals plc 60% 40% G&M KEFI Saudi Arabia Ethiopia ⁓75% ⁓ 25% Tula Kapi Gold Mines Govt. of Ethiopia (TKGM) $20M 5
Slide 6: KEFI Valuation Comparisons
KEFI Valuation Comparisons 125 All columns show $’s for KEFI, assuming KEFI Valuation Comparisons beneficial interest 55% of TK and 40% of JQ Comparison of current market capitalisation 100 with Government of Ethiopia entry price, NPV’s and Cantor Peer. $ millions 75 • Lowest graphed basis for valua
Slide 7: Ethiopian Projects
Ethiopian Projects View a video summarising KEFI’s projects in Ethiopia here 7
Slide 8: Tula Kapi Gold Project
Tula Kapi Gold Project The Tulu Kapi project lies 360 km due west of Ethiopian Capital, Addis Ababa. Access is via a sealed road and the site benefits from main electricity grid access within 40km of the project. Tula Kapi has a probable ore reserve of 1.05Moz and mineral resources totalling 1.72Moz
Slide 9: Tula Kapi - Resources & Reserves
Tula Kapi - Resources & Reserves Geological Overview Reserves • The Tulu Kapi region comprises typical greenstone characterised by Cut-off Tonnage Gold Grade Cont. Gold prominent hills of intrusive rocks and deeply incised valleys hosting both (g/t) (millions) (g/t) (Moz) metasediments and metavolca
Slide 10: Tulu Kapi Project – DFS Overview
Tulu Kapi Project – DFS Overview (KEFI has further refined 2017 DFS Update with its selected contractors and financiers, to increase average gold production to ~140K koz p.a. for 7 years) To date KEFI has published two studies to assess the economic Study Overviews feasibility of Tulu Kapi – both ha
Slide 11: TKGM – Proposed Corporate Structure
TKGM – Proposed Corporate Structure Institutions Board Public Ausdrill 32% 3% 60% 5% KEFI Minerals plc Ausdrill Mining Services Contractor c. 75% KEFI c. 25% New Investor Ethiopia $20M Lycopodium c. 75% Process Plant Construction & Tula Kapi Gold Mines c. 25% Operations support Govt. of Ethiopia (TK
Slide 12: TKGM – Proposed Finance Structure
TKGM – Proposed Finance Structure KEFI Ethiopia Govt. of Ethiopia Bond Holders 75% 25% $150M Tulu Kapi Finance SPV Gold Mines On-Site Infrastructure (TKGM) Special Purpose Vehicle (SPV) Structure Bond Financing • Domiciled in Luxembourg • The placing of the proposed listed bonds is subject to final
Slide 13: Tulu Kapi - Project Development Progress
Tulu Kapi - Project Development Progress Government and Community • Mining Licence issued, bilateral agreement signed, permitted for development, operating, environmental and social • Project Company (TKGM) shareholders agreement signed – Mining Licence transferred to TKGM • Roads and power authorit
Slide 14: Tulu Kapi – Underground Potential
Tulu Kapi – Underground Potential Gold mineralisation may extend both beneath the current drilling, and 600m to 800m further to the north – potential for 1 Moz below current open pit. • Base Case PEA on the August 2014 resource of 1.45Mt at 6.3g/t (333koz contained gold) extends beyond current open
Slide 15: Tulu Kapi – Opportunities for Satellite Deposits
Tulu Kapi – Opportunities for Satellite Deposits District Exploration Opportunities KEFI can quickly add to Tulu Kapi open-pit gold production by developing: • Shallow, low-cost gold resources within trucking distance of TK processing plant or as a stand-alone heap leach operations • Potential for m
Slide 16: Hypothetical Financials
Hypothetical Financials Heap Leach at Open-pit Mines in the Guji-Komto Belt 16
Slide 17: Ethiopia Exploration Upside
Ethiopia Exploration Upside Looking forward to 2018 and 2019 KEFI is well positioned to capitalize through to 2020 on its excellent portfolio of Ethiopian exploration projects whilst the Tulu Kapi Project undergoes concurrent development. KEFI has an area set aside by Government, for exploration of
Slide 18: Saudi Arabian Projects
Saudi Arabian Projects View a video summarising KEFI’s projects in Saudi Arabia here 18
Slide 19: KEFI in Saudi Arabia
KEFI in Saudi Arabia ARTAR Partnership – Gold and Minerals Ltd (G&M) Joint Venture • KEFI has been active in Saudi Arabia since 2008 and is partnered with ARTAR, a leading locally owned industrial group • Saudi Arabia is instituting policies to encourage minerals exploration and development, resulti
Slide 20: Saudi Arabia Exploration – Jibal Qutman
Saudi Arabia Exploration – Jibal Qutman The Jibal Qutman Licence is located in the central southern region of the Arabian-Nubian Shield and covers an area of ⁓100km2 that overlies part of a highly prospective 300km-long structure with > 40 recorded occurrences of gold or ancient mines). A PFS comple
Slide 21: Jibal Qutman
Jibal Qutman District Exploration Licence Applications JQ District ELA JQ District ELA Quartz Vein style Quartz Vein style mineralisation in mineralisation in granites, poor granites outcrop, sand cover Dilation zones ? Sinistral strike slip • 25 rock chips collected from old workings (surface sampl
Slide 22: Jibal Qutman
Jibal Qutman Four Surrounding Exploration Licence Applications Jibal Qutman • EL granted June 2012 • 733 koz Resource • PEA May 2015 • Mining Licence Application lodged • All 4 ELAs & MLA await Government launch of new regulations foreshadowed in pro-development policy 09/04/2018 22
Slide 23: Saudi Arabia Exploration – Hawiah
Saudi Arabia Exploration – Hawiah The Hawiah prospect is located in the southwest of the Arabian Shield, within the Wadi Bidah Mineral District (WBMD), a 120km long belt which hosts over 24 VMS occurrences and historic workings for both copper and gold. • 95 km2 exploration license granted in Decemb
Slide 24: Hawiah (continued)
Hawiah (continued) KEFI has Hawiah other ELAs in the Wadi Bidah Belt which cover cumulative +12km of gold gossans on VMS. BRGM drilling in 1980’s on these gossans total 1.2Mt at 6.4g/t Au for 254koz contained gold 2km long, 300m from surface SP anomaly “blue” >125mV • Gossan 6km long, 5-40m wide • 5
Slide 25: Comparison of Hawiah SP Anomaly with Bisha VMS Deposit
Comparison of Hawiah SP Anomaly with Drilling of Bisha VMS Deposit in Eritrea Source of Bisha drilling image: http://www.nevsun.com/projects/bisha-main/
Slide 26: Strategic Portfolio of VMS Targets in the Wadi Bidah Belt
Strategic Portfolio of VMS Targets in the Wadi Bidah Belt Comparison of 120km long Wadi Bidah VMS Belt (left) vs. the Bisha VMS Belt in Eritrea (right) (same scale). G&M JV (via ARTAR) has registered applications for most of Wadi Bidah VMS Belt 09/04/2018 26
Slide 27: Tenement Locations in the Arabian Shield
Tenement Locations in the Arabian Shield 0.6Moz +1Moz +40Mt at 2.4% Cu +6Moz G&M JV +3Moz 1 MLA +0.5Moz 1 EL +3Moz 17 ELAs +3Moz 4 ELAs pending Total ≈1,275km2 27
Slide 28: Contacts
Contacts Local community consultation before development starts at Tulu Kapi Email: info@kefiminerals.com Website: www.kefi-minerals.com @kefiminerals KEFI Minerals plc 28
Slide 29: KEFI Team
KEFI MINERALS KEFI TEAM
Slide 30: Directors
Directors Harry Anagnostaras-Adams – Executive Chairman – B. Comm, MBA, Fellow of Australian Institute of Company Directors Harry was founder or co-founder of Citicorp Capital Investors Australia, investment company Pilatus Capital, Australian Gold Council, EMED Mining, KEFI Minerals and Cyprus-base
Slide 31: KEFI Senior Executive
KEFI Senior Executive Harry Anagnostaras-Adams - Executive Chairman see description under Directors John Leach - Finance see description under Directors Below are Senior Executives appointed Feb 20 18 to assume line responsibilities in March 2018, in the lead-up to planned development David Munro -
Slide 32: Development Planning Team
Development Planning Team Wayne Nicoletto, Managing Director, KEFI Ethiopia – BSc Metallurgy, Grad Dip Mineral Economics, Grad Dip Mining (WASM) Wayne has 30 years' experience in the mining industry as a Metallurgist and a General Manager, specialising in start-up and operation of gold mines in Afri