West African Resources Ltd · ASX:WAF
West African Resources — Shareholder Meeting (May 2025)
27 slides from West African Resources's shareholder meeting presentation, May 9, 2025
Slide 1: Flight to 500 - Annual General Meeting 9 May 2025
For personal use only Red-necked Buzzard, Toega WEST AFRICA’S GROWING MID TIER PRODUCER FLIGHT TO 500 ANNUAL GENERAL MEETING - 9 MAY 2025
Slide 2: Important Notice
IMPORTANT NOTICE DISCLAIMER FINANCIAL DATA The following notice and disclaimer apply to this presentation (Presentation) and you are advised to read this carefully before reading or making any other use of this Presentation or any information contained in this Presentation. . All dollar values in th
Slide 3: Important Notice - Forward Looking Statements
IMPORTANT NOTICE FORWARD LOOKING STATEMENTS continued officers becoming associated with other natural resource companies which may give rise to conflicts of interests. This list is not exhaustive of the factors that may affect WAF’s forward-looking information. Should one or more of these risks and
Slide 4: West Africa's Growing Mid-Tier Gold Producer
WEST AFRICA’S GROWING MID-TIER GOLD PRODUCER 100% UNHEDGED MINERAL RESOURCES AND ORE RESERVES For personal use only 2025 Mineral Ore 10 Year Exploration Market Production Guidance Resources Reserves Production Target Permits Capitalisation 290 – 360k oz 12.5 Moz 6.2 Moz 4.2 Moz +1,200 km² A$2,850m*
Slide 5: Board and Management
WEST AFRICAN RESOURCES LTD BOARD AND MANAGEMENT For personal use only Richard Hyde Lyndon Hopkins Rod Leonard Libby Mounsey Stewart Findlay Robin Romero Jayde Webb Founder, CEO and Executive Director and Independent Executive Director of Non-Executive Director Non-Executive Non-Executive Executive C
Slide 6: WAF Project Locations
WAF PROJECT LOCATIONS For personal use only 6
Slide 7: Flight to 500
WEST AFRICAN RESOURCES LTD FLIGHT TO 500 WAF aims to be a sustainable +500koz gold producer by 2030 For personal use only 2025 Drilling Programs Targeting Resource Upgrades ▪ M1 South underground resource growth ▪ M5 South underground resource growth ▪ M5 central and north open-pit resource growth F
Slide 8: 10 Year Production Target
WEST AFRICAN RESOURCES LTD 1 0 Y E A R P R O D U C T I O N TA R G E T 500,000 ▪ 10-year production target to average: For personal use only 450,000 ‒ +420,000 oz pa 2024-33 400,000 ‒ +480,000 oz pa 2026-31 350,000 ‒ 4.2 Moz production 2024-33 Recovered Gold Ounces 300,000 ▪ 10-year production target
Slide 9: Sanbrado Gold Operations
WEST AFRICAN RESOURCES LTD S A N B R A D O G O L D O P E R AT I O N S For personal use only 9
Slide 10: Sanbrado Gold Mine Key Project Metrics
SANBRADO GOLD MINE KEY PROJECT METRICS Location South-central Burkina Faso, West Africa Ownership WAF 90%; Burkina Faso government 10% Type Contract open-pit and underground mining For personal use only Resources 83 Mt at 1.83 g/t for 4.9 Moz gold (US$2,000) Reserves 19.8 Mt at 2.4 g/t for 1.5 Moz g
Slide 11: Sanbrado: Years of Meeting or Beating Guidance
SANBRADO GOLD MINE 4 Y E A R S O F M E E T I N G O R B E AT I N G G U I D A N C E ▪ 2025 production guidance: 10 Year Sanbrado Production Plan For personal use only 300,000 ‒ 190,000 – 210,000ozs ‒ Site Sustaining Cost: <$1,350/oz 250,000 ▪ Q1 2025 Summary* 200,000 Recovered Gold Ounces ‒ Gold produ
Slide 12: Resource Extension M1 South
RESOURCE EXTENSION M1 SOUTH ▪ +18,000m resource definition drilling program is in progress, targeting inferred mineral resource For personal use only between 1600mRL and 1350mRL ▪ Results to date are in-line with current Mineral Resource Estimate, targeting +10 year reserve ▪ Significant results fro
Slide 13: Near Mine Growth: Sanbrado Underground Potential
NEAR MINE GROWTH SANBRADO UNDERGROUND POTENTIAL ▪ Over 70,000m of surface and underground drilling planned to accelerate resource and reserve For personal use only growth ▪ Mineralisation at M1 South and M5 remain open at depth supporting potential to lift production output and extend mine life at S
Slide 14: Near Mine Growth: M5 Exploration Potential
NEAR MINE GROWTH M5 EXPLORATION POTENTIAL For personal use only ▪ WAF getting back into the drilling business! ▪ >25,000m diamond drilling program has commenced ▪ 5 new drill rigs ordered, 2 now on site and 3 to arrive Q3 2025 ▪ Drill program targeting high-grade shoots identified in open-pit grade
Slide 15: Near Mine Growth: Toega Project
NEAR MINE GROWTH TOEGA PROJECT ▪ Toega located 12.6 km from Sanbrado mill For personal use only ▪ Granted mining licence, production to commence H2 2025, 7 year open-pit ▪ Open Pit reserve of 9.5 million tonnes at 1.9 g/t gold for 569,000 oz gold ▪ Open Pit 70 - 80koz gold production per annum over
Slide 16: Kiaka Gold Project
KIAKA GOLD PROJECT 2 0 Y E A R S AT 2 3 4 , 0 0 0 O Z P E R Y E A R For personal use only November 2023 March 2025 16
Slide 17: Kiaka Gold Project Key Metrics
KIAKA GOLD PROJECT 2 0 Y E A R S AT 2 3 4 , 0 0 0 O Z P E R Y E A R Location South-central Burkina Faso, West Africa Ownership WAF 90%; Burkina Faso government 10% Type Open-pit, low strip ratio 1.8 : 1 LOM For personal use only Resources 285 Mt at 0.9 g/t for 7.9 Moz gold (US$2000) Reserves 164 Mt
Slide 18: Kiaka: Confirmed Thick Zones of Gold Mineralisation
KIAKA GOLD PROJECT C O N F I R M E D T H I C K Z O N E S O F G O L D M I N E R A L I S AT I O N F R O M S U R FA C E For personal use only ▪ RC grade control complete ▪ Results include: – 30m at 4.1g/t gold – 29m at 2.6g/t gold – 31m at 2.0g/t gold – 32m at 1.9g/t gold – 30m at 1.9g/t gold – 28m at
Slide 19: Kiaka Construction
KIAKA GOLD PROJECT 2 0 Y E A R S AT 2 3 4 , 0 0 0 O Z P E R Y E A R For personal use only 1 2 3 4 Kiaka Construction: 1. Plant Mills, 2. Fuel Depot, 3. Tailings Storage Facility and 4. Dry Plant 19
Slide 20: ESG: Social Investment
ESG SOCIAL INVESTMENT Integrating sustainability into our operations with a long-term view; beyond production and closure for a positive mine legacy For personal use only ✓Significant contributor to Burkina Faso in taxes and royalties +US$350million since project commencement ✓US$8 million invested
Slide 21: Protecting Our Workforce
PROTECTING OUR WORKFORCE O C C U PAT I O N A L H E A LT H A N D S A F E T Y West African operates a comprehensive Occupational Health and Safety Management System (OHSMS) based on ISO 45001 standards. This system provides governance to all West African sites, projects and corporate offices. The For
Slide 22: Building a Strong Workforce
BUILDING A STRONG WORKFORCE É Q U I P E WA F ✓Total West African operational employees: 642 For personal use only ─ +90% Burkinabé workers ─ 50% workers from local areas surrounding projects ─ 20% women across all business units ✓Total workforce for operations, exploration and project development, i
Slide 23: Flight to 500: Team, Gold Exposure, ESG, Growth
WEST AFRICAN RESOURCES LTD FLIGHT TO 500 • Quality board and management team aligned with shareholders TEAM For personal use only • Building a reputation for consistent and reliable delivery GOLD • 6.2 Moz unhedged gold reserves EXPOSURE • 12.5 Moz unhedged gold resources • Social licence to operate
Slide 24: West Africa's Emerging Mid-Tier Gold Producer
For personal use only WEST AFRICAN RESOURCES LTD WEST A F R I C A’S EMER G IN G M I D - TI ER G O LD PR O D U C ER w w w. w e s t a f r i c a n r e s o u r c e s . c o m A S X : WA F
Slide 25: Capital Structure
WEST AFRICAN RESOURCES LTD C A P I TA L S T R U C T U R E INVESTOR BY GEOGRAPHIC LOCATION1,4 Australia & NZ 48.4% ASX: WAF Total Ordinary Shares on Issue 1,139,806,252 For personal use only North America 32.4% Performance rights on issue 8,984,708 Europe 18.3% Top 20 Shareholders1 62% Cash at 31 Mar
Slide 26: Mineral Resources
MINERAL RESOURCES Measured Resource Indicated Resource Inferred Resource Total Resource Cutoff Tonnes Grade Contained Au Tonnes Grade Contained Au Tonnes Grade Contained A Tonnes Grade Contained Au For personal use only g/t (000) t g/t (000) oz (000) t g/t (000) oz (000) t g/t (000) oz (000) t g/t (
Slide 27: Ore Reserves
ORE RESERVES Proved Probable Proved + Probable For personal use only Tonnes Grade Contained Au Tonnes Grade Contained Au Tonnes Grade Contained Au Cutoff (000) t g/t (000) oz (000) t g/t (000) oz (000) t g/t (000) oz M1 South UG 1.5 1,298 7.3 304 1,591 7.7 392 2,889 7.5 696 M5 0.4 1,635 1 55 5,846 1
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