West African Resources Ltd · ASX:WAF
West African Resources — Africa Down Under Presentation 2021
20 slides from West African Resources's conference presentation, Sep 1, 2021
Slide 1: West Africa's Newest Gold Producer
WEST AFRICA’S NEWEST GOLD PRODUCER AF RI C A DO W N UND E R PR E SE NTAT I ON 1 S EP TE M BE R 2 02 1
Slide 2: Important Notice
IMPORTANT NOTICE . IMPORTANT NOTICE AND DISCLAIMER Mr Silvio has sufficient experience which is relevant to the style of mineralisation and type of All statements other than statements of historical fact included in this announcement including, deposit under consideration and to the activity which h
Slide 3: West Africa's Newest Gold Producer
WEST AFRICA’S NEWEST GOLD PRODUCER +200,000 OUNCES UNHEDGED GOLD BEYOND 2030 2021 Mineral Ore Production Exploration Market Guidance Resources1 Reserves1 Target2 Permits Capitalisation 250 - 280 Koz 5.1 Moz 1.5 Moz 2.8 Moz +1,200km2 A$927m AISC Senior Debt US $720-800/oz US $111m 3
Slide 4: Why West Africa?
WHY WEST AFRICA? GOLDEN POTENTIAL West Africa is one of the most attractive mining regions globally with many of the world’s leading producers 1,2 No. 1 Region for globally significant gold discoveries 2nd largest gold producing region globally 78% growth in production in the past 10 years +
Slide 5: Capital Structure
CAPITAL STRUCTURE ASX: WAF Analyst Coverage1 Total Ordinary Shares on Issue 883m Euroz Hartleys Mike Millikan Options and performance rights on issue 12.9m Macquarie Andrew Bowler Top 20 Shareholders2 60% Sprott Brock Salier Cash at 30 June 2021 US$45.1m Gold at 30 June 20213 US$18.0m Senior debt at
Slide 6: West African Project Locations
WEST AFRICAN PROJECT LOCATIONS 6
Slide 7: Sanbrado Gold Operation
SANBRADO GOLD OPERATION KEY PROJECT METRICS Location South-central Burkina Faso, West Africa Ownership WAF 90%; BF Government 10% Contract open-pit and underground Type mining Resources 81Mt at 2.0 g/t for 5.1 Moz gold 1. Reserves 20Mt at 2.3 g/t for 1.5 Moz gold 1. Reserves + 31Mt at 2.7 g/t for 2.
Slide 8: Strong History of Resource Growth
WEST AFRICAN RESOURCES LTD S T R O N G H I S TO RY O F R E S O U R C E G R O W T H 6,000,000 2020 - 4,400 holes 122,000m of drilling 65% Increase in Sanbrado Mineral Resources 5,000,000 to 81 Mt at 2.0 g/t for 5.1 Moz gold 1. 4,000,000 Contained Gold Ounces Addition of the 1.3 Moz Toega gold d
Slide 9: Production Outlook to 2033
WEST AFRICAN RESOURCES LTD P RO D UC TI ON O U TL O O K TO 2 0 33 300,000 2021 production guidance 250,000 to 280,000 ounces gold at an AISC of US$720 – US$800/oz 250,000 2021 - 2023 production based on 100% Ore Reserves 200,000 Production Ounces Gold Average annual production of 216,000oz 150
Slide 10: Project Ramp Up on Track to Meet 2021 Guidance
WEST AFRICAN RESOURCES LTD P RO J E CT RA MP UP O N T RA CK TO ME E T 2 02 1 G UI D AN CE OUNCES UP AND COSTS DOWN QUARTER ON QUARTER SINCE COMMISSIONING Five quarters of production and 80,000 1,250 $1,177 cost improvement 70,000 $1,009 $992 June Q A$62m operating cashflow, $957 $928 1,000 after
Slide 11: M1 South Underground
M1 SOUTH UNDERGROUND PUNCHING ABOVE ITS WEIGHT +900M VERTICAL HIGH GRADE Mineral Resource: Measured + Indicated 2.4Mt at 11.4 g/t for 0.87Moz gold Inferred 2.2Mt at 11.9 g/t for 0.84Moz ounces gold Total 4.6Mt at 11.6 g/t for 1.7Moz gold1. Ore Reserve: Open pit 0.65Mt at 5.6 g/t for 0.12Moz gold
Slide 12: M5 Open Pit
M5 OPEN PIT FILL THE MILL Mineral Resource (US$1850/oz): Strip ratio 4:1 Measured + Indicated 35Mt at 1.2 g/t for 1.4Moz gold Inferred 17Mt at 1.1 g/t for 0.58Moz gold LOM Recovery 90% Total 52Mt at 1.2 g/t for 2.0Moz gold Underground potential beneath Southern end Ore Reserve (US$1400/oz)
Slide 13: Toega Feasibility Study
TOEGA FEASIBILITY STUDY LIFTS PRODUCTION 2024 - 2031 • Mineral Resource: Inferred 22Mt at 1.9 g/t for 1.3Moz Au • Metallurgical and Geotech test work underway in Perth • Open Pit Inventory: 9.5Mt at 1.9 g/t for 0.57Moz Au • Environmental and Social Impact Assessment underway to IFC Performance Stand
Slide 14: Sanbrado Gold Operation: E & S Commitments
SANBRADO GOLD OPERATION E & S COMMITMENTS Environmental and Social Integrating sustainability into our operations with a long term view; beyond production, ENVIRONMENTAL OFFICERS beyond closure for a positive mine legacy Putting our environmental, social, health, security management system into ac
Slide 15: Making a Positive Impact
SANBRADO GOLD OPERATION M A K I N G A P O S I T I V E I M PA C T Positive Social Impact from Sanbrado in education and health Construction of infrastructure and electrification of new schools SANBRADO WAF SCHOOL community team meeting local farmers during COVID-19 global pandemic Livelihood divers
Slide 16: Building a Strong Workforce
BUILDING A STRONG WORKFORCE OUR TEAM Total WAF workforce 1,270 Diversity being achieved through good employment practices ₋ 90% from Burkina Faso, 10% Expatriate ₋ Gender ₋ 60% of senior ops roles from Burkina Faso ₋ Social and ethnic backgrounds ₋ 50% of site workers from local communities ₋ Ag
Slide 17: Why Invest
WHY INVEST W E S T A F R I C A N R E S O U R C E S LT D A S X : WA F TEAM • Quality board and management team aligned with shareholders GOLD • 250-280 koz gold production 2021 at AISC of US$720-800/oz EXPOSURE • +10 year mine life +200,000 ounce unhedged gold production • Social licence to operate t
Slide 18: Mineral Resources and Reserves
MINERAL RESOURCES AND RESERVES SANBRADO Measured Resource Indicated Resource Inferred Resource Total Resource Cutoff Contained Contained Contained Tonnes Grade Tonnes Grade Tonnes Grade Tonnes Grade Contained Au Au Au Au g/t t g/t oz t g/t oz t g/t oz t g/t oz M1 South 0.5 260,000 2.7 23,000 510,000
Slide 19: Production Target
PRODUCTION TARGET S A N B R A D O G O L D O P E R AT I O N Proved Probable Inferred Mineral Resources Total Reserve + Inferred Resources Contained Contained Contained Contained Tonnes Grade Tonnes Grade Tonnes Grade Tonnes Grade Au Au Au Au t g/t oz t g/t oz t g/t oz t g/t oz Sanbrado Open Pits 1,40
Slide 20: West African Resources Ltd
WEST AFRICAN RESOURCES LTD WE S T AF RI CA’S N EW ES T U NH ED G E D G O L D P RO DU CE R www.we sta fric anresources.com A S X : WA F
West African Resources — Africa Down Under Presentation 2021 on 6ix