West African Resources Ltd · ASX:WAF

West African Resources — Shareholder Meeting (May 2019)

28 slides from West African Resources's shareholder meeting presentation, May 31, 2019

  1. Slide 1: West Africa's emerging gold producer – AGM Presentation

    For personal use only West African Resources Ltd We s t A f r i c a ’s e m e r g i ng g o l d p r o duc e r AGM Presentation 31 May 2019

  2. Slide 2: Important Notice

    IMPORTANT NOTICE IMPORTANT NOTICE AND DISCLAIMER NI 43-101 QUALIFIED PERSONS AND COMPETENT PERSONS STATEMENT This presentation contains “forward-looking information” within the meaning of securities legislation, including information relating to Information in this presentation that relates to explo

  3. Slide 3: West Africa's Emerging New Gold Producer

    WEST AFRICA’S EMERGING NEW GOLD PRODUCER  West Africa's highest margin gold project in construction For personal use only  On target for +300,000 ounces gold in first 12 months  Fully funded and on track gold production from oxide open- pit and free-milling underground ores, H2 2020  Average ann

  4. Slide 4: Why Burkina Faso?

    WHY BURKINA FASO?  Underlain by Birimian gold bearing rocks For personal use only  1.7 Moz gold production in 2018  Sanbrado the 14th commercial gold mine in 14 years  Historically stable, strong government and community support for gold mining  Sanbrado located in stable south-central Burkina

  5. Slide 5: Experienced Board and Management

    EXPERIENCED BOARD AND MANAGEMENT BOARD OF DIRECTORS For personal use only RICHARD HYDE MARK CONNELLY SIMON STORM IAN KERR Founder, MD & CEO Non-Exec Chairman Non-Exec Director Non-Exec Director +20 years experience in the mining +25 years experience in mining. + 25 years experience in Australian +30

  6. Slide 6: Sanbrado Gold Project

    Fully funded, fully permitted, tracking to budget and schedule SANBRADO for 2020 gold production GOLD PROJECT For personal use only Project Status 30% COMPLETE 6

  7. Slide 7: Key Project Metrics

    SANBRADO GOLD PROJECT KEY PROJECT METRICS For personal use only  High-grade underground and open-pit operation with 2.2Mtpa SABC CIL plant  MRE of 3.1 Moz Au 2.4 Moz Au (Indicated) & 0.7 Moz Au (Inferred)  1.7 Million ounce Probable Reserve Underground: 0.65 Moz at 10.2 g/t gold Open-pits: 1.0 Mo

  8. Slide 8: M1 South Deposit

    SANBRADO GOLD PROJECT M1 SOUTH DEPOSIT April 2019 MRE For personal use only  OP 0-100m – 183koz at 6.3 g/t Au 178koz at 6.4 g/t gold (Indicated) 5koz at 5.2 g/t gold (Inferred)  UG 100-700m – 814koz at 19.5 g/t Au 697koz at 21.9 g/t gold (Indicated) 117koz at 11.2 g/t gold (Inferred) April 2019 Pr

  9. Slide 9: M1 South Deposit – +700m and still going strong

    SANBRADO GOLD PROJECT M1 SOUTH DEPOSIT +700m and still going strong For personal use only  Step down drilling confirms mineralisation still wide open. Recent drilling beneath reserves include: – TAN18-DD228: 25m at 15 g/t Au from 862m including 5.5m at 40.4 g/t Au TAN18-DD228 670m bsl 9

  10. Slide 10: M5 Deposit

    SANBRADO GOLD PROJECT M5 DEPOSIT For personal use only April 2019 MRE  51.3Mt at 1.2 g/t Au for 1.99Moz Au  36.6Mt at 1.2 g/t Au for 1.47Moz Au (Ind)  14.6Mt at 1.1 g/t Au for 0.52Moz Au (Inf) April 2019 Probable Reserves  0.8Moz at 1.4 g/t gold (18.1Mt)  Main pit 2km long, up to 400m wide and

  11. Slide 11: Annual Production – April 2019 DFS + UG Potential After Y6

    SANBRADO GOLD PROJECT ANNUAL PRODUCTION – APRIL 2019 DFS + UG POTENTIAL AFTER Y6 400,000 For personal use only 350,000  M1 South OP 2 years, M5 OP 10 years  M1 South UG 6.5 years, Y1-6 average 100Koz gold 300,000  TAN18-DD228: 25m at 15 g/t Au from 862m including 5.5m at 40.4 g/t Au 220m beneath

  12. Slide 12: Targets – Calendar Year Cost and Production Targets

    SANBRADO TARGETS C A L E N D A R 5 Y E A R C O S T A N D P R O D U C T I O N TA R G E T S A S I C ( U S $ / O Z ) For personal use only 350 $1,000 300 $800 250 $726 Production (000's oz) $600 200 AISC (US$/oz) $592 $597 $581 $580 $531 150 $400 100 $200 50 163 282 199 209 170 205 - $- 2020 2021 2022

  13. Slide 13: Project Status Highlights

    Project Status Highlights SANBRADO GOLD PROJECT  Infrastructure earthworks & civils nearing completion  Concrete CIL ring beams & mill foundations poured  Pipeline and water dam complete Ta r g e t i n g f i r s t g o l d p o u r H 2 2 0 2 0 For personal use only  Decline for underground commenc

  14. Slide 14: West African Construction Team

    WEST AFRICAN CONSTRUCTION TEAM E X T E N S I V E P R O J E C T D E V E L O P M E N T E X P E R I E N C E I N B U R K I N A FA S O Chief Matthew Wilcox - Over 20 years experience in mining construction. Project Director for Nord Gold’s 4Mtpa For personal use only Development Bissa and 8Mtpa Bouly pro

  15. Slide 15: Portal blast for decline, 4 May 2019

    SANBRADO GOLD PROJECT P O R TA L B L A S T F O R D E C L I N E 3 0 T H M AY 2 0 1 9 For personal use only 15

  16. Slide 16: Camp, Clinic and Administration Buildings

    SANBRADO GOLD PROJECT C A M P, C L I N I C A N D A D M I N I S T R AT I O N B U I L D I N G S For personal use only 16

  17. Slide 17: Million Cubic Metre Water Storage Facility

    SANBRADO GOLD PROJECT 1 . 5 M I L L I O N C U B I C M E T R E WAT E R S TO R A G E FA C I L I T Y For personal use only 17

  18. Slide 18: Construction Progress – Box Cut

    SANBRADO GOLD PROJECT CONSTRUCTION PROGRESS – BOX CUT For personal use only 18

  19. Slide 19: E & S Commitments

    SANBRADO GOLD PROJECT E & S COMMITMENTS Environmental and Social For personal use only  Baseline studies for the ESIA and RAP were undertaken from 2015 to 2018. Environmental and RAP approval were granted in Government support at ground breaking ceremony 2018. May 2019  Environmental permit was gr

  20. Slide 20: Project Financing

    SANBRADO PROJECT FINANCING F U L LY F U N D E D T O P R O D U C T I O N A $ 7 8 M EQ U I T Y I N 2 0 1 8 For personal use only  A$35M in May 2018 for pre-production and long lead items.  A$43M in December 2018 for balance of equity and working capital requirements. U S$ 2 0 0 M TA U R U S D EB T F

  21. Slide 21: Capital Structure and Analyst Coverage

    CAPITAL STRUCTURE AND ANALYST COVERAGE For personal use only ASX: WAF Analyst Coverage2 Total Ordinary Shares on Issue 869.4m Argonaut James Wilson Options and performance rights on issue 17.2m Euroz Andrew Clayton Top 20 Shareholders 55% Hartleys Mike Millikan Cash (31 March 2019) A$37.2m Macquarie

  22. Slide 22: Near-Term Catalysts

    NEAR-TERM CATALYSTS ON BUDGET AND ON SCHEDULE FOR GOLD PRODUCTION H2 2020 For personal use only Commence major earthworks and civils Q1 2019  Pour first concrete, CIL tank and mill foundations Q2 2019  Complete pipeline and 1.5M3 water storage facility Q2 2019  Complete underground box-cut and st

  23. Slide 23: Project Schedule

    SANBRADO PROJECT SCHEDULE CURRENT DEVELOPMENT PLAN FOR 2019 AND BEYOND For personal use only 2018 2019 2020 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Further resource / reserve and definition drilling Mining and environmental permits approved  Updated DFS  Award of EPCM and Order Mill Package  Detailed

  24. Slide 24: West African Resources Ltd – Additional Information

    For personal use only WEST AFRICAN RESOURCES LTD W E S T A F R I C A’ S E M E R G I N G G O L D P R O D U C E R A D D I T I O N A L I N F O R M AT I O N 24

  25. Slide 25: Exploration Potential & Upside Areas

    EXPLORATION POTENTIAL & UPSIDE AREAS 1 NEAR MINE EXPLORATION 2 SURROUNDING EXPLORATION For personal use only <5km from Sanbrado <30km from Sanbrado  Continue to chase M1 South below 500m depth, deposit  10km geochem Moktedu Trend – 28m at 9.2g/t Au from surface  Goudré rock chips +60 g/t Au has m

  26. Slide 26: Regional Development Potential

    SANBRADO PROJECT For personal use only PLACEHOLDER FOR REGIONAL DEVELOPMENT POTENTIAL MAP FROM SHANE  Region hosts >14Moz undeveloped resources  Potential for regional consolidation and infrastructure synergies  Sanbrado has the highest grade of all deposits in the vicinity and is key to unlockin

  27. Slide 27: Mineral Resources and Reserves

    MINERAL RESOURCES AND RESERVES Cutoff Indicated Resource Inferred Resource Total SANBRADO GOLD (Au g/t) Grade Grade Grade For personal use only PROJECT MINERAL Tonnes Au Oz Tonnes (Au Au Oz Tonnes Au Oz (Au g/t) (Au g/t) RESOURCES g/t) April 2019 M1 South U/G >180mRL 3 1,000,000 21.9 697,000 300,000

  28. Slide 28: West African Resources Ltd

    West African Resources Ltd – ASX: WAF For personal use only www.westafricanresources.com

West African Resources — Shareholder Meeting (May 2019) on 6ix