Slide 1: An Early-Mover in the Arabian-Nubian Shield
AN EARLY-MOVER IN THE ARABIAN- NUBIAN SHIELD Q1-2024 Investor Presentation kefi-goldandcopper.com
Slide 2: Disclaimer
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, agents, employees or adv
Slide 3: Entered Arabian-Nubian Shield 2008 Focused on Saudi Arabia and Ethiopia
Gold/Copper Deposit N KEFI MINERALS ETHIOPIA KEFI (G&M JV) EL KEFI (G&M JV) ELA Entered Arabian-Nubian Arabian Nubian Shield Shield 2008 Focused on Saudi Arabia and Ethiopia Jibal Qutman Hawiah (VHMS) SAUDI ARABIA ▪ 2008 JV with ARTAR ▪ 2 discoveries – advancing towards development: ▪ Hawiah (copper
Slide 4: Companies Now in Arabian-Nubian Shield
Companies Now in Arabian-Nubian Shield Ivanhoe Electric and Eurasian Resources Group entered Saudi Arabia in 2023; promoting major exploration programs ARABIAN - NUBIAN SHIE Allied Gold raised $267M in IPO, of which $185M was for Ethiopia 4 kefi-goldandcopper.com Focused On Arabian- Nubian Shield
Slide 5: Corporate Snapshot
Corporate Snapshot KEFI GOLD + COPPER CAPITAL STRUCTURE (AIM:KEFI) S N AP S H O T 52 Week High- Low 1.2p – 0.5p ▪ 5Moz gold eq (2 Moz net to KEFI: 1.2Moz in Ethiopia + 0.8 Moz in Saudi Arabia) Current Share Price 0.7p ▪ Ethiopian project expected to sign financing, launch construction H1-2024 Market
Slide 6: Development Projects and Exploration Pipeline
Development Projects and Exploration Pipeline Development Projects Stage Key Points Tulu Kapi Funding Ore Reserve of 1.0Moz @ 2.1g/t Au Starting with open pit at average 144koz Au p.a. @ AISC $906/oz over 7 years Jibal Qutman Feasibility Resource of 0.7Moz at 0.8g/t Au Planning OP/CIL development Ha
Slide 7: Ethiopia - 2023 Milestones Achieved
Ethiopia - 2023 Milestones Achieved H1-2023 ✓ Costings update ✓ New mining contractor appointed ✓ Finance plan agreed ✓ All contracting, investment and lending terms updated ✓ Lenders update their T&Cs for other parties to confirm documents ✓ Signing of Final Umbrella Agreement for Tulu Kapi project
Slide 8: Ethiopia - 2024 Expected Milestones Ahead
Ethiopia - 2024 Expected Milestones Ahead 2024 in Ethiopia - Launch Tulu Kapi and Restart Ethiopian Exploration H1-2024 • Preparations for signing US$320M Project Finance package: • Approvals by rest of Syndicate to follow the recent approval of Lead Bank, with conditions • Preparation of community
Slide 9: Saudi Arabia - 2023 Milestones Achieved
Saudi Arabia - 2023 Milestones Achieved Over 180,000m of drilling at Jibal Qutman and Hawiah in 2023 Jibal Qutman Gold (“JQ”) and Hawiah Copper-Gold (“H”) - in Feasibility Study for Development 2024 and 2026: ✓ Drilling programmes lifted to 81,000m at JQ and 101,000m at H ✓ Resources and Reserves up
Slide 10: Saudi Arabia - 2024 Expected Milestones
Saudi Arabia - 2024 Expected Milestones Complete Jibal Qutman DFS, Project Financing & Launch, Advance Hawiah to DFS & Ramp-Up Regional Exploration Jibal Qutman Gold (DFS and project financing by close of 2024) • Report drilling results at recent high-grade discovery and other targets • Report prefe
Slide 11: Comparative Valuations – Tulu Kapi Only
Comparative Valuations – Tulu Kapi Only African gold companies Enterprise Value per oz African gold companies Enterprise Value per oz of production US$ of Measured and Indicated Resource 250 200 150 100 50 0 NCA… TRE… WAF… PRU… PDI.… ORE… CMCL HUM.L THX.V KEFI.L OSI.V PAF.L SHG.L TIE.AX ROS.V EV/NPV
Slide 12: Syndicate Structure of Partners, Regional Investors, Banks and Contractors
Syndicate Structure of Partners, Regional KEFI GOLD + COPPER Investors Banks and Contractors Public Shareholders Regional Investor/s via redeemable convertible loan (at KEFI's election) 85/100% 25% GMCO 0/15% ARTAR KEFI Ethiopia Ethiopian Partners 75% Saudi Arabia c.85/100% .15//30% Tulu Kapi Gold P
Slide 13: KEFI Board of Directors
KEFI Board of Directors Industry Specialists for the region Harry Anagnostaras-Adams John Leach Mark Tyler Richard Robinson Alistair Clark Executive Chair – B. Comm, MBA, Finance Director – BA Non-Executive, Chair Audit and Non-Executive - Master of Mineral Non-Executive Fellow of Australian Institu
Slide 14: KEFI – Key Support Executives
KEFI – Key Support Executives Key Support Executives Eddy Solbrandt – Chief Operating Officer Robert Williams - Corporate & Technical Studies Eddy began his career in the mining industry in 1986 and Rob began his career in mining as an underground has since worked in open cut and underground miner i
Slide 15: Tulu Kapi Gold Mine
ARABIAN - NUBIAN SHIE Full Funding package agreed in-principle & Tulu Kapi Gold Preparation for signing US$320 million Project Finance package. Mine 15 kefi-goldandcopper.com Focused On Arabian- Nubian Shield
Slide 16: Tulu Kapi Project Economics
Tulu Kapi Project Economics NPV’s at Discount Rates of 8% vs 5% And as at Start of Construction vs as at Start of Production GOLD PRICE $US1,862/OZ NPV (8% NPV, IRR & Valuation Unleveraged NPV @ 5% 355.8 KEFI has consistently reported its NPV's post-leverage and at a discount rate of 8%. Leveraged I
Slide 17: Latest African Gold Industry Trade Sale Metrics
Latest African Gold Industry Trade Sale Metrics Orecorp: similar but larger deposit in Tanzania but Tulu Kapi has advanced financing KEFI Gold & Copper Orecorp Code KEFI.L ORR.AX Project Tulu Kapi Nyanzaga Location Oromia, Ethiopia (360km west of Addis Adaba) NW Tanzania (60km southwest of the city
Slide 18: Mineral Resources & Ore Reserves
Mineral Resources & Ore Reserves 1.72m oz of contained gold at 2.65g/t Resource Area Tonnes Gold Contained Gold Category (millions) (g/t) (m oz’s) • Resources were estimated using cut-off grades of 0.45g/t gold above 1,400m RL and Indicated Above 17.7 2.49 1.42 2.50g/t gold below 1,400m RL. (For fur
Slide 19: Tulu Kapi Resource Drilling and Trenching
Tulu Kapi Resource Drilling and Trenching ARABIAN - NUBIAN SHIE 73,109m of Diamond drilling 49,625m of RC Drilling 4,818m of Geotechnical Drilling 6,051m of Hydrogeological Drilling 1,417m of Trenching 19 kefi-goldandcopper.com Focused On Arabian- Nubian Shield
Slide 20: Tulu Kapi Plant & Pit Shell Design
Tulu Kapi Plant & Pit Shell Design ARABIAN - NUBIAN SHIE 20 kefi-goldandcopper.com Focused On Arabian- Nubian Shield
Slide 21: Independent Experts Sign Off
Independent Experts Sign Off Tulu Kapi signed off by leading experts for the international syndicate Security Due Diligence Financial Model ARABIAN - NUBIAN SHIE Environment & Social Definitive Feasibility Study Resources & Reserves 21 kefi-goldandcopper.com Focused On Arabian- Nubian Shield
Slide 22: Saudi Arabia
ARABIAN - NUBIAN SHIE Two a d v a n c e d p r o j e c t s a n d l a r g e r e g i o n a l Saudi Arabia portfolio 22 kefi-goldandcopper.com Focused On Arabian- Nubian Shield
Slide 23: GMCO
GMCO ~1,000Km² Licence Package • GMCO holds Exploration Licences (“EL’s”) via (ARTAR) covering ~1000 km2 and further applications (ELA’s) • All licences being transferred into GMCO for ease of project financing • Teams mobilised onto 14 new EL’s, three ARABIAN - NUBIAN SHIE times what we were grante
Slide 24: Jibal Qutman
Jibal Qutman • Comprised of 3 EL’s ~270Km² Licence Package • A GMCO discovery on which work was suspended in 2016 during a regulatory overhaul and the site was re-accessed in late 2022 • The map to the left shows the Mining Licence Area initially planned in 2016 and the since-traced extensions of th
Slide 25: Hawiah VMS (Copper-Gold-Zinc-Silver)
Hawiah VMS (Copper-Gold-Zinc-Silver) Ranks Top 3 base metals discovery in country • Major greenfield discovery made in September 2019 • 101,000m drilling programme since 2019 • Mineral Resource of 29Mt at 0.89% copper, 0.94% zinc, 0.67g/t gold and 10.1g/t silver • Further near-term resource expansio
Slide 26: Hawiah Project - Long section displaying resource classification and open pit shells
Hawiah Project - Long section displaying resource classification and open pit shells ~ Crossroads Extension 5000m Strike > Crossroads Central Zone Camp Lode Open Pit- 11.1 Mt Underground - 17.9 Mt Resource Classification THE anoenece Facing East ep_>old GE inferres k-minerals . Caen @ Unciassifies H
Slide 27: AMAK – listed in Saudi Arabia
AMAK – listed in Saudi Arabia Metrics vs GMCO AMAK has similar but smaller deposits and has a mkt cap of $1.3bn AMAK GMCO Copper-Gold Mine/Project Al Masane UG³ 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 Pl
Slide 28: Thank You
THANK YOU E: info@kefi-goldandcopper.com Kefiminerals KEFI Gold and Copper kefi-goldandcopper.com