Kefi Gold And Copper Plc · LSE:KEFI
Kefi Gold And Copper — MineAfrica's 21st Annual Investing in African Mining Seminar 2023
32 slides from Kefi Gold And Copper's conference presentation, Mar 7, 2023
Slide 1: KEFI Update – MineAfrica Investing in African Mining Seminar
KEFI KEFI Update GOLD + COPPER 7 March 2023 MineAfrica’s 21st Annual Investing in African Mining Seminar Toronto, Canada John Leach 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: Arabian Nubian Shield – Taking Off in Saudi Arabia and Ethiopia
Arabian Nubian Shield KEFI GOLD + COPPER -Taking Off in Saudi Arabia and Ethiopia IPO in 2006 as junior explorer of frontier markets for the mining sector (AIM:KEFI) 3 advanced development projects + excellent exploration portfolio: • Tulu Kapi Gold in Ethiopia (const. 2023/24; prod. 2025) • Jibal Q
Slide 4: Arabian Nubian Shield – Taking Off in Saudi Arabia and Ethiopia
Arabian Nubian Shield KEFI GOLD + COPPER -Taking Off in Saudi Arabia and Ethiopia • 5M oz gold-equivalent resources. KEFI interest 2.3M oz • In 2022 geopolitics improved in both Ethiopia (security and regulatory) and Saudi Arabia (regulatory) • Combined NPV of KEFI’s 3 advanced projects is US$422M (
Slide 5: Saudi Arabia: seed capital and mining expertise in the Arabian Nubian Shield
KEFI provided seed capital and mining expertise KEFI GOLD + COPPER for modern exploration in the Arabian Nubian Shield A globally a significant minerals region Saudi Arabia • Gold & Minerals JV company formed in 2008 • Strong local partner Abdulrahman Al Rashid & Sons (ARTAR) • ARTAR majority, KEFI
Slide 6: Ethiopia: seed capital and mining expertise in the Arabian Nubian Shield
KEFI provided seed capital and mining expertise KEFI GOLD + COPPER for modern exploration in the Arabian Nubian Shield A globally a significant minerals region Ethiopia • Began in Ethiopia 2014 and formed a JV with the Government 2017 • Government minority and KEFI majority in Tulu Kapi Gold Mines J
Slide 7: Ethiopia - Tulu Kapi Gold Mine
KEFI GOLD + COPPER Ethiopia - Tulu Kapi Gold Mine • Full Funding Package Agreed In-Principle • Closing Process Underway • Financing to Cover Development plus Exploration 7
Slide 8: Ethiopia: KEFI's Perspective
KEFI Ethiopia GOLD + COPPER KEFI’s Perspective Ethiopia is Africa’s highest growth country Democracy and was, until recently, in world’s top 10 for nearly 20 years running. It will happen again. Rule of Law Trade imbalance makes export generation a Good institutions high priority and Tulu Kapi will
Slide 9: Tulu Kapi Summary Economics
Tulu Kapi Summary Economics KEFI GOLD + COPPER At Current Consensus Gold Price $1,641/oz And at Current Spot Price $1,940/oz Production Profile @ $1,641 @ $1,940 Average grade (g/t) 2.15 2.15 Production (000’s oz pa) 144 144 Ore mined (000’s t pa) 2,629 1,989 Waste Mined (000’s t pa) 16,217 16,217 S
Slide 10: Every Aspect Checked by International Experts
Every Aspect Checked by International Experts KEFI GOLD + COPPER So As to Give Confidence About Ethiopia’s First Major Modern Mine Security Due Diligence Financial Model Environmental & Social Definitive Feasibility Study Resources & Reserves 10
Slide 11: Saudi Arabia Advanced Projects - Jibal Qutman Gold and Hawiah Copper-Gold
KEFI GOLD + COPPER Saudi Arabia 2 Advanced Projects - Jibal Qutman Gold and Hawiah Copper-Gold Plus a Large Regional Portfolio 11
Slide 12: Saudi Projects 2023 Plans
KEFI Saudi Projects GOLD + COPPER 2023 Plans Jibal Qutman • DFS, Mining Licence, Financing, Start Construction • Expand Resources Hawiah • PFS, Trigger DFS • Expand Resources Regional Targets • Initial Prospecting G&M (ARTAR) holds 15 exploration licences and further applications (ELA’s) covering +1
Slide 13: Building c. 400K oz pa Au-eq Production
KEFI Building c. 400K oz pa Au-eq Production GOLD + COPPER KEFI interest c. 200K oz pa Au-eq 2022 2023 and 2024 2025 2026 2027 Ethiopia Tulu Kapi Gold Finance: Umbrella Construction and Commission Open pit + Agreements 6-22 Production underground… Final Finance Plan Saudi Jibal Qutman Gold Developme
Slide 14: Parent IPO'd in 2006 on UK AIM Board
Parent IPO’d in 2006 on UK AIM Board KEFI GOLD + COPPER Now Introducing Partners, Regional Investors, Banks, Contractors Next step is Main Board and Dual-Listings UK and Regional Shareholders Regional Groups via KEFI Gold and Copper plc redeemable loan (at KEFI’s election) c.30% 100% c.70% GMCO ARTA
Slide 15: Valuation Benchmarks – African Gold Companies
Valuation Benchmarks KEFI GOLD + COPPER African Gold Companies (Source: Orior Capital) US$/oz US$/oz 350 4,000 (left) African gold companies 3,500 Enterprise Value 300 3,000 per oz of production, 250 planned or 2022/23 2,500 200 guidance 2,000 150 1,500 100 1,000 (right)African gold companies Enterp
Slide 16: To Conclude
To Conclude KEFI Arabian Nubian Shield GOLD + COPPER -Taking Off in Saudi Arabia and Ethiopia Capital Structure (AIM:KEFI) Progress Since IPO 2006 Share price - 12 mth 0.4p - 1.5p • 5M oz gold-equ resources. KEFI interest 2.3M oz Current share price 0.8p gold-equivalent Shares in issue 3,939M • In 2
Slide 17: END
KEFI GOLD + COPPER END Email: info@kefi-goldandcopper.com @kefiminerals KEFI Gold and Copper Website: kefi-goldandcopper.com 17
Slide 18: Ethiopia - Tulu Kapi Gold Mine
KEFI GOLD + COPPER Ethiopia - Tulu Kapi Gold Mine • Full Funding Package Agreed In-Principle • Closing Process Underway • Financing to Cover Development plus Exploration 18
Slide 19: Tulu Kapi Cash Flows To Debt vs Equity
Tulu Kapi Cash Flows To Debt vs Equity KEFI GOLD + COPPER At Current Consensus Gold Price $1,641/oz And at Current Spot Price $1,830/oz US$m CFADS & Debt Service DSCR US$m 1 2 3 CFADS 4 5 & Debt 6 Service 7 8 9 10 11 DSCR 165 7.00x 165 7.00x 155 155 145 145 6.00x 6.00x 135 135 125 125 115 5.00x 115
Slide 20: Tulu Kapi Summary Economics
Tulu Kapi Summary Economics KEFI GOLD + COPPER At Current Consensus Gold Price $1,641/oz And at Current Spot Price $1,940/oz TK Stats 100% Basis At Gold $1,641/oz At Gold $1,940/oz Production Profile Material Mined (Thousands Tonnes per Annum) 18,846 18,846 Ore Mined (Thousands Tonnes per Annum) 2,6
Slide 21: >126,000 metres of Drilling
KEFI GOLD + COPPER >126,000 metres of Drilling Significant Underground Potential 21
Slide 22: We have Uncovered and Sampled the Deposit
KEFI We have Uncovered and Sampled the Deposit GOLD + COPPER 22
Slide 23: Tulu Kapi Site Surface Layout
KEFI GOLD + COPPER Tulu Kapi Site Surface Layout
Slide 24: 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 25: Tulu Kapi Site Open Pit at Surface
KEFI GOLD + COPPER Tulu Kapi Site Open Pit at Surface Showing Adjacent Waste Dumps for Revegetation
Slide 26: Tulu Kapi Open Pit: Unveiling Mineralised Zones Below Surface
Tulu Kapi Open Pit KEFI GOLD + COPPER Unveiling Mineralised Zones Below Surface In-fill Drilling To Commence During Construction
Slide 27: Underground Development
Underground Development KEFI GOLD + COPPER to Access Ore Outside Open Pit and to Drill Extensions of the System from Underground 27
Slide 28: Saudi Arabia Advanced Projects - Jibal Qutman Gold and Hawiah Copper-Gold
KEFI GOLD + COPPER Saudi Arabia 2 Advanced Projects - Jibal Qutman Gold and Hawiah Copper-Gold Plus a Large Regional Portfolio 28
Slide 29: Comparison of Key Advanced Mining Projects in Saudi Arabia
Comparison of Key Advanced Mining KEFI GOLD + COPPER Projects in Saudi Arabia AMAK GMCO 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 29Mt @ 0.89% Cu, 0.94% Zn, 0.7g/t Au, 10g/t Ag Processing Plant 0.8Mtpa Operating 2.0Mtpa PFS G
Slide 30: 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 ex
Slide 31: Jibal Qutman Geology and Resource
Jibal Qutman KEFI GOLD + COPPER Geology and Resource • Typical shear-hosted orogenic gold deposit comprising a weathered oxide zone and lower un- weathered fresh ore body • Resources are currently constrained to 7 open-pits • Resource drilling has so far only been explored to a depth of ~125m and th
Slide 32: Hawiah Copper-Gold Project Resource Statement and Classification
Hawiah Copper-Gold Project KEFI GOLD + COPPER Resource Statement and Classification 2021 2022 Total Resource 24.9 29.0 • Major greenfield discovery made in September 2019 Cu Grade (%) 0.9% 0.9% • 42,000m drilling programme over 3 years Au Grade (g/t) 0.62 0.67 Indicated Resource (Mt) 10.9 12.4 • Min
KEFI Gold and Copper — MineAfrica's 21st Annual Investing in African Mining Seminar 2023 on 6ix