Kefi Gold And Copper Plc · LSE:KEFI
Kefi Gold And Copper — Africa Down Under Conference 2024
29 slides from Kefi Gold And Copper's conference presentation, Aug 26, 2024
Slide 1: An Early Mover in the Arabian-Nubian Shield
An Early Mover in the Arabian-Nubian Shield Presentation 26 August 2024 for Africa Down Under Conference kefi-goldandcopper.com
Slide 2: Disclaimer
Disclaimer ARABIAN - NUBIAN SHIE 2 kefi-goldandcopper.com Focused On Arabian- Nubian Shield
Slide 3: KEFI – Why Now?
KEFI – Why Now? GOLD + COPPER Share Price 10% of NPV of ❑ Share Price has dropped 90% from 2017, due to Ethiopia internal turmoil ❑ Ethiopia lifted state of emergency in 2022. Now back in Top 10 growth countries Main Project (US$2,500/oz) ❑ Saudi Arabia has also turned positive. Mining industry now
Slide 4: Why Ethiopia now, as well as Saudi Arabia?
Why Ethiopia now, as well as Saudi Arabia? 2023-24 ETHIOPIAN STRATEGIC INITIATIVES: ▪ Ethiopian membership of both of KEFI’s two banks ▪ Security installed for priority projects for permanent safety ▪ Launch of Ethiopian Stock Exchange planned for Q3-2024 “The pace of change in Ethiopia has been so
Slide 5: At the site of Tulu Kapi's initial construction camp
Stakeholders meeting July 2024 At the site of Tulu Kapi’s initial construction camp. Overlooking the planned site processing facilities and mine ARABIAN - NUBIAN SHIE School provided by KEFI Minerals Ethiopia for the Tulu Kapi community 5 kefi-goldandcopper.com Focused On Arabian- Nubian Shield
Slide 6: Current Priorities and Capital Structure
Current Priorities Tulu Kapi Gold Project US320M CAPITAL STRUCTURE KEFI GOLD + COPPER Formal Process Underway, Comprising the following Parallel Streams: (LON: KEFI) ▪ Project Debt Finance of US$190M between 2 banks 52 Week Low - High 0.49p – 0.92p ▪ 1st Bank TDB has already approved for US$95M. 2nd
Slide 7: KEFI is the Early Mover, with Discoveries & Growth Platform
N KEFI is the Early Mover, with Discoveries & Growth Platform ETHIOPIA – Majority Share of No.1 Project ▪ 2017 JV with Government - started Early Works in 2024 ▪ 144Koz pa open pit, with underground mine to lift gold production to 200Koz pa ▪ 1.7Moz high-grade gold (2.1g/t O/P Ore Reserve and 5.6g/t
Slide 8: Arabian-Nubian Shield Takes Off After Positive Developments in the Major Host Countries
N Gold/Copper Deposit KEFI MINERALS ETHIOPIA KEFI (G&M JV) EL Arabian-Nubian Shield Takes Off KEFI (G&M JV) ELA Arabian Nubian Shield After Positive Developments in the Major Host Countries Jibal Qutman ETHIOPIA: 2022 Lifting of State of Emergency at end of conflicts following democratic reforms Haw
Slide 9: KEFI Board of Directors
KEFI Board of Directors Experienced Industry Specialists for the Region Harry Anagnostaras-Adams John Leach Addis Alemayehou Alistair Clark Richard Robinson Executive Chair – B. Comm, MBA, Finance Director – BA Non-Executive – representative with Non-Executive Non-Executive – Chair of Fellow of Aust
Slide 10: Management Team - Executive Directors Plus...
Management Team - Executive Directors Plus... Eddy Solbrandt – Chief Operating Officer Robert Williams - Corporate Development & Eddy began his career in the mining industry in 1986 and has Technical Studies since worked in open cut and underground metalliferous mines, Rob began his career in mining
Slide 11: KEFI Corporate Structure
KEFI Corporate Structure KEFI Emphasis on Regional Alliances GOLD + COPPER Management 7-15%* 85-93% Public Shareholders Regional Investor/s via Notes and Bonds 25% c.85-100% GMCO KEFI Minerals Ethiopia 0-15% ARTAR Ethiopian Institutions 75% Saudi Arabia c.85-90% c.10-15% Ethiopian Government Tulu Ka
Slide 12: Comparative Valuations
Comparative Valuations KEFI Undervalued vs. Peers, despite High Quality Projects US$ US$ 350 African gold companies Enterprise Value per oz of production* African gold companies Enterprise Value per oz 5,000 of Measured and Indicated Resource 300 4,500 4,000 250 3,500 200 3,000 2,500 150 2,000 100 1
Slide 13: Tulu Kapi Gold Mine
ARABIAN - NUBIAN SHIE • Lead bank and Lead investors have approved US$320 million finance package Tulu Kapi • Early Works commenced to prepare for finance closing October 2024 Gold Mine • Major Works to follow finance closing and target production commissioning mid-2026 13 kefi-goldandcopper.com Foc
Slide 14: Tulu Kapi Overview
Tulu Kapi Overview • Standard 2Mtpa CIL processing plant • Contract mining – truck and shovel • Open pit waste to ore ratio of 7.5 to 1 • Head grade of 2.1g/t gold • Gold recoveries of 93% • Annual gold production of c.140Koz ARABIAN - NUBIAN SHIE • 1.0Moz gold to be mined from open pit • Potential
Slide 15: Strong Project Economics for Tulu Kapi
Strong Project Economics for Tulu Kapi TK Stats 100% Basis Open Pit + Start Underground Mine Open Pit Only and plant at nameplate but stay at nameplate Gold Price (US$/oz) 2,300 2,050 1,800 2,300 2,050 1,800 1,550 Production Statistics Tonnes Processed T 000 18,400 18400 18,400 15,395 15,395 15,395
Slide 16: Ethiopia - 2024 Expected Milestones Ahead
Ethiopia - 2024 Expected Milestones Ahead 2024 in Ethiopia - Launch Tulu Kapi and Restart Ethiopian Exploration Early Works were launched in May 2024: • Newly formed Federal Mining Police deployed around the Mining Licence Area; • Now giving final briefings to the community on development and resett
Slide 17: Tulu Kapi Mineral Resources & Ore Reserves
Tulu Kapi Mineral Resources & Ore Reserves Resources - 1.72Moz of contained gold at 2.65g/t Resource Area Tonnes Gold Contained Gold Category (millions) (g/t) (Moz) Indicated Above 17.7 2.49 1.42 1,400m RL Inferred 1.3 2.05 0.08 Sub-Total 19.0 2.46 1.5 Indicated Below 1.1 5.63 0.20 1,400 RL Inferred
Slide 18: Tulu Kapi - 130,000m of Drilling: Still Open at Depth
Tulu Kapi - 130,000m of Drilling: Still Open at Depth 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 18 kefi-goldandcopper.com Focused On Arabian- Nubian Shield
Slide 19: CSR Policy & Strategy
CSR Policy & Strategy N A Long-Term Partnership Between KEFI, Government & Community • Open communication and transparency, cooperative and collaborative engagement • Government support and guidance to help facilitate and coordinate, activate formal communication platforms • Engage community for inp
Slide 20: 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 20 kefi-goldandcopper.com Focused On Arabian- Nubian Shield
Slide 21: Saudi Arabia
ARABIAN - NUBIAN SHIE Saudi Arabia Two advanced projects and large regional portfolio 21 kefi-goldandcopper.com Focused On Arabian- Nubian Shield
Slide 22: GMCO JV
GMCO JV ~1,000km² License Package • GMCO holds Exploration Licences (“EL’s”) via (ARTAR) covering ~1,000 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 times what GMCO was granted in previous ARA
Slide 23: Jibal Qutman - Near Surface, Orogenic Gold
Jibal Qutman - Near Surface, Orogenic Gold) ~270Km² Licence Package Including 0.7Moz Resource as basis for the current DFS • A GMCO discovery on which work was suspended in 2016 during a regulatory overhaul and the site was re-accessed in late 2022 New Asfingia • Mining Licence Area initially planne
Slide 24: Hawiah - VMS Copper-Gold-Zinc-Silver
Hawiah - VMS Copper-Gold-Zinc-Silver Top 3 base metals discovery in Saudi Arabia – working on DFS • Major greenfield discovery made in 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 ex
Slide 25: 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 26: Saudi Arabia - 2024 Expected Milestones
Saudi Arabia - 2024 Expected Milestones • Select Preferred Development Plans for Jibal Qutman Gold and Hawiah Copper-Gold VMS • Trigger DFS and Financing Plans for Both • Ramp-Up Regional Exploration Jibal Qutman Gold and Hawiah Copper-Gold • Report drilling results for resource extension and in-fil
Slide 27: AMAK – listed in Saudi Arabia
AMAK – listed in Saudi Arabia Metrics vs GMCO AMAK has similar but smaller deposits and has a Market Cap of US$1.6bn 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 Ag² 29Mt @ 0.89% Cu, 0.94% Zn, 0.7g/t Au, 10g/t Ag Processi
Slide 28: KEFI is about to be an overnight success after 15 Years
Gold/Copper Deposit N KEFI MINERALS ETHIOPIA KEFI (G&M JV) EL KEFI (G&M JV) ELA KEFI is about to be an Arabian Nubian Shield overnight success – after 15 Years Jibal Qutman Hawiah (VHMS) • Both Ethiopia and Saudi Arabia have turned for the better • Both countries especially supportive of us Tulu Kap
Slide 29: THANK YOU
THANK YOU E: info@kefi-goldandcopper.com Kefiminerals KEFI Gold and Copper kefi-goldandcopper.com
KEFI Gold and Copper — Africa Down Under Conference 2024 on 6ix