West African Resources Ltd · ASX:WAF

West African Resources — Shareholder Meeting (November 2015)

18 slides from West African Resources's shareholder meeting presentation, Nov 18, 2015

  1. Slide 1: Developing the Tanlouka Gold Project

    For personal use only Developing the Tanlouka Gold Project AGM Presentation 18th November 2015 1

  2. Slide 2: Executive Summary

    Executive Summary For personal use only  West African Resources Ltd is an ASX and TSXV listed gold development company focussed on Burkina Faso  Largest ASX listed landholder, focussed on short term cash flow  PFS complete confirming technical viability of robust low CAPEX oxide heap leach starte

  3. Slide 3: Corporate Overview

    Corporate Overview For personal use only Dual ASX & TSX-V listed Code: WAF Total Ordinary Shares on Issue 272.8m Macquarie Options 14c Exercise Price 40.5m Top 20 Shareholders 54% Cash1 $2.2m Macquarie FS Senior Debt (Sept 2016) US$5m Market Capitalisation (at 8c/share) $21.8m (US$15.2m) Substantial

  4. Slide 4: Experienced Board and Management

    Experienced Board and Management Board of Directors For personal use only Richard Hyde Geologist with 20 years of experience in the minerals industry and more than 15 years of experience in West Africa. Managing Director and CEO Founding shareholder and Director of WAF. Commercial executive with mor

  5. Slide 5: Burkina Faso

    Burkina Faso For personal use only  Highly prospective and under-explored  Eight new gold mines commissioned over the past five years  Over 40Moz in resources and reserves  Fourth largest gold producer in Africa  Investment-friendly mining code  Strong Government support  Proven rapid permitt

  6. Slide 6: M5 PFS results – Heap Leach Starter

    M5 PFS results –Heap Leach Starter For personal use only  Production of 69,000oz pa for first 3 years, 49,000oz pa for life of mine, 7 year life of mine  Cash costs $428/oz for 3 years, $635/oz life of mine  All-in cash costs of $538/oz for 3 years, $749/oz life of mine  Pre-production capital o

  7. Slide 7: Project Sensitivity Analysis

    Project Sensitivity Analysis For personal use only NPV5 (US$M) IRR Payback Period (Months) 30 140 70% 66% 125 26 120 60% 25 50% 100 50% 20 86 16 80 40% 15 13 30% 60 30% 42 10 40 20% 5 20 10% 0 0% Gold price 0 Gold price Gold price $1,100 $1,300 $1,500 $1,100 $1,300 $1,500 $1,100 $1,300 $1,500 All fi

  8. Slide 8: PFS results – Heap Leach Starter

    PFS results –Heap Leach Starter  Conventional mining and heap leach, For personal use only agglomeration processing option  Single structure and open pit  Low strip ratio of 2 : 1  Open pit mine schedule optimised to suit contract mining  4 year mining project, 7 year processing provides schedu

  9. Slide 9: Project Timeline

    Project Timeline For personal use only Timeline of Key Deliverables for the Mankarga 5 Project = In progress  = completed 2015 2016 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Exploration & Resource Drilling Feasibility Study Enviro Social Impact Assessment (ESIA)  Enviro Permit Application  Mining Permit Applicatio

  10. Slide 10: Tanlouka Gold Project – Immediate Exploration Upside

    Tanlouka Gold Project –Immediate Exploration Upside For personal use only  M1: Historic high-grade target – TAN10-RC-10: 16m at 4.8g/t Au from 56m – TAN10-RC-12: 8m at 31.78g/t Au from 58m – TAN10-RC-23: 2m at 25g/t Au from 58m – TAN11-RC-52: 4m at 16.95g/t Au from 46 – TAN12-DD-73: 13.5m at 10.11g

  11. Slide 11: Tanlouka Gold Project – M3 Discovery Section

    Tanlouka Gold Project –M3 Discovery Section For personal use only 11

  12. Slide 12: Mankarga – Resource at depth

    Mankarga 5 –Resource at depth For personal use only  Indicated Resources of 3.1Mt at 1.7g/t Au (173koz) and Inferred Resources of 14.9Mt at 1.6g/t Au (779koz) at a 1g/t Au cut-off beneath starter pit in fresh material1  CIL processing recoveries exceed 90% in test work  High-grade drilling beneat

  13. Slide 13: Summary

    Summary For personal use only • 70koz pa production, cash costs1 $428/oz first 3 years LOW COST • Capex incl. working capital and contingency $46.6 million STARTER OPTION • Robust returns at current gold price • New discovery at M3: 32m at 5.02g/t Au from 2m RESOURCE GROWTH • High priority M1 prospe

  14. Slide 14: Contact Details

    Contact Details For personal use only Richard Hyde Managing Director +61 8 9481 7344 richard@westafricanresources.com Mark Connelly Chairman +61 8 9481 7344 mark@westafricanresources.com 14

  15. Slide 15: Additional Slides

    For personal use only Additional Slides 15

  16. Slide 16: Mankarga Project – Mineral Resources & Reserves

    Mankarga Project –Mineral Resources & Reserves For personal use only The base case 16 is stated assuming a 100% project at a gold price of $1,300/oz. All amounts are in US dollars. ASX, TSXV: 23/2/15 & 15/5/15, NI43-101 PFS 29/5/2015

  17. Slide 17: Excellent regional targets and geological setting

    Excellent regional targets and geological setting For personal use only 17

  18. Slide 18: Important Notices

    Important Notices Cautionary Notes Mineral Resources that are not mineral reserves do not have demonstrated economic viability. Mineral resource estimates do not account for mineability, selectivity, mining loss and dilution. These mineral resource estimates include inferred mineral resources that a

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