West African Resources Ltd · ASX:WAF

West African Resources — Shareholder Meeting (November 2018)

24 slides from West African Resources's shareholder meeting presentation, Nov 30, 2018

  1. Slide 1: Chairman's address

    Press Release 30th November 2018 For personal use only Chairman’s address I am pleased to present the 2018 Annual Report for West African Resources Limited (ASX/TSX-V: WAF) as we continue to move our world-class Sanbrado Gold Project in Burkina Faso towards production, whilst also uncovering its gre

  2. Slide 2: Chairman's address (continued)

    West African Resources Limited There is a very experienced team at the helm of West African, headed by long-serving Managing Director Richard Hyde. Our Board and management have a solid track record of gold discovery and mine development, particularly in West Africa, and we have continued to build o

  3. Slide 3: Sanbrado Gold Project - Annual General Meeting

    For personal use only Sanbrado Gold Project We s t A f r i c a ’s n e x t t i e r 1 g o l d a s s e t Annual General Meeting - 30 November 2018

  4. Slide 4: West African Resources Limited - Final Proxies

    WEST AFRICAN RESOURCES LIMITED - FINAL PROXIES AGM - 30 NOVEMBER 2018 For personal use only FOR AGAINST ABSTAIN DISCRETIONARY RESOLUTION 1 Adoption of Remuneration Report (Non-Binding) 244,050,172 47,752,409 52,250 - RESOLUTION 2 Election of Ian Kerr as a Director 313,245,969 40,400 - - RESOLUTION 3

  5. Slide 5: Sanbrado Gold Project - AGM Presentation

    For personal use only Sanbrado Gold Project We s t A f r i c a ’s n e x t t i e r 1 g o l d a s s e t Annual General Meeting - Presentation 30 November 2018 Richard Hyde – Founder, Managing Director & CEO

  6. Slide 6: Important Notice

    IMPORTANT NOTICE For personal use only IMPORTANT NOTICE AND DISCLAIMER economic estimation; risks related to governmental regulations; risks related to obtaining necessary This presentation contains “forward-looking information” within the meaning of securities legislation, licenses and permits; ris

  7. Slide 7: Important Notice

    IMPORTANT NOTICE For personal use only NI 43-101 QUALIFIED PERSONS AND COMPETENT PERSONS STATEMENT Any other information in this presentation that relates to exploration results, exploration targets or Information in this presentation that relates to exploration results, exploration targets or miner

  8. Slide 8: Highlights

    SANBRADO GOLD PROJECT HIGHLIGHTS For personal use only High grade Low cost, high Conventional +200,000oz pa margin operation mining and production processing Ready for Experienced Significant development management exploration upside potential 6

  9. Slide 9: Corporate Overview

    CORPORATE OVERVIEW For personal use only INVESTORS BY TYPE ASX & TSX-V: WAF 1832 Asset Mgt Total Ordinary Shares on Issue 690.8m (Dynamic Funds) VanEck Global Options on issue 16.0m 7% 6% Top 20 Shareholders 52% Retail Insiders & Cash (30 Sept 2018) A$35m Management 35% Market Capitalisation (at A$0

  10. Slide 10: Experienced Board and Management

    EXPERIENCED BOARD AND MANAGEMENT For personal use only BOARD OF DIRECTORS 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

  11. Slide 11: Sanbrado location and infrastructure

    SANBRADO GOLD PROJECT  Located in central Burkina Faso For personal use only  110km, 1.5 hrs southeast of Ouagadougou  Excellent infrastructure ‒ 20km from sealed highway ‒ Excellent mobile phone coverage ‒ LV grid power on site ‒ 15km from HV grid power ‒ 18km from stable water source  Low popu

  12. Slide 12: Feasibility Study Highlights

    SANBRADO GOLD PROJECT F E A S I B I LT Y S T U D Y H I G H L I G H T S For personal use only KEY PROJECT METRICS  High-grade underground and open-pit operation with 2Mtpa SABC CIL plant  MRE of 2.35Moz Au (Indicated) & 0.55Moz Au (Inferred)  Average 211koz per year for first 5 years  Average 133

  13. Slide 13: M1 South Deposit

    SANBRADO GOLD PROJECT M1 SOUTH DEPOSIT For personal use only June 2018 MRE  OP 0-120m - 170koz at 6.6 g/t gold (Ind), 10koz at 4.8 g/t gold (Inf)  UG 120-530m - 620koz at 25.5 g/t gold (Ind), 60koz at 7.6 g/t gold (Inf) June 2018 Probable Reserves  OP 0-120m - 156koz at 6.9 g/t gold  UG 120-500m

  14. Slide 14: M1 South Deposit - +700m and still going strong

    SANBRADO GOLD PROJECT M1 SOUTH DEPOSIT For personal use only +700m and still going strong  Step down drilling confirms mineralisation still wide open. Recent drilling beneath reserves include: – TAN18-DD189: 11m at 11.2 g/t from 654 and 6m at 24.4 g/t Au from 675m – TAN18-DD214A: 0.5m at 520 g/t Au

  15. Slide 15: M5 Deposit

    SANBRADO GOLD PROJECT M5 DEPOSIT For personal use only June 2018 MRE  37.2Mt at 1.3 g/t Au for 1.5Moz (Ind)  12.8Mt at 1.1 g/t Au for 0.45Moz (Inf) June 2018 Probable Reserves  0.8Moz at 1.5 g/t gold (16.4Mt)  Main pit 2km long, up to 400m wide and 200m deep in southwest  Ore from surface  Ove

  16. Slide 16: Ore Mined by Source and Annual Production

    SANBRADO GOLD PROJECT ORE MINED BY SOURCE AND ANNUAL PRODUCTION For personal use only 300,000  M1 South OP 2 years 250,000  M5 OP 11 years  M1 South UG 4.5 years  TAN18-DD228: 25m at 15 g/t Au from 862m including 200,000 5.5m at 40.4 g/t Au 220m beneath current reserves Contained Ounces 150,000

  17. Slide 17: Growth of Resource, Reserves and Grade 2014-2018

    SANBRADO GOLD PROJECT GROWTH OF RESOURCE, RESERVES AND GRADE 2014-2018 For personal use only 2,500 2.50 2.40 2,000 2.00 grams per tonne 1.70 1.70 1,500 1.50 koz Au 1,000 1.20 1.20 1.00 0.90 500 0.50 437 278 736 440 980 440 1,332 894 2,022 894 2,350 1,557 0 0.00 Jul 2014 Feb 2015 Aug 2016 Feb 2017 Oc

  18. Slide 18: Work Programs 2018-2019

    SANBRADO GOLD PROJECT WO RK PROG RAMS 2018- 19 For personal use only PROJECT  Project finance process nearing completion  Strong interest from international resource banks, debt funds and royalty companies FINANCE  Targeting conventional project finance, expect to appoint banking syndicate by Q4

  19. Slide 19: Near Term Milestones

    NEAR TERM MILESTONES CURRENT DEVELOPMENT PLAN FOR 2018 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 desi

  20. Slide 20: Additional Information

    For personal use only Additional Information 18

  21. Slide 21: Exploration Potential & Upside Areas

    EXPLORATION POTENTIAL & UPSIDE AREAS For personal use only 1 NEAR MINE EXPLORATION 2 SURROUNDING EXPLORATION <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

  22. Slide 22: 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 unlocking

  23. Slide 23: Mineral Resources and Ore Reserves

    MINERAL RESOURCES AND ORE RESERVES For personal use only SANBRADO GOLD PROJECT MINERAL RESOURCES | June 2018 INDICATED RESOURCES INFERRED RESOURCES Cutoff Deposit Grade Grade (Au g/t) Tonnes Au Oz Tonnes Au Oz (Au g/t) (Au g/t) O/P <120m 0.5 800,000 6.6 170,000 50,000 4.8 10,000 M1 South U/G >120m 3

  24. Slide 24: West African Resources Ltd

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

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