Investor Presentaiton
commitments are made on a non-binding basis
KEFI
GOLD + COPPER
Identified Funding Structure
Existing and Future
Shareholder
to Fund Expansion
70%
ARTAR
30%
G&M
Saudi Arabia
Proposed Senior Lenders
Project Finance Loan
KEFI Gold and Copper plc
100%
100%
Ethiopian Subsidiaries
of International Groups
$35M
KEFI Ethiopia
~70%
~ 6%
KEFI Marketing
Tulu Kapi Gold
Mines (TKGM)
Ethiopian Private.
Shares in subsidiary
Min. $9M
~24%
Mining Financiers
Subordinated Facilities
$60M
Ethiopian Govt.
Min. $29M equity
Senior Lenders
Project Finance Loan
~$140M
Mining Contractor
~$56M
1. Subject to final procurement confirmations this month, TKGM capital requirement is c.US$356M
2. Mining contractor to provide US$56M mining fleet and Senior Lenders to provide US$140M, leaving US$160M to be provided as Equity-Risk-Capital
3. Equity-Risk Capital to be provided by Government US$29M and Local Private Investors US$9M into TKGM alongside KEFI Group for c. US$122M
4. KEFI Group's c. US$122M planned in the following manner:
a. Subordinated non-convertible, offtake-linked US$60M¹
b. Subordinated convertible into KEFI at VWAP in 3 years as to US$15M¹ and US$20M at a premium over market in H2-22
c. Internal cash generation during commissioning, mining capex Year 2 paid by KEFI shares and final equity to be subscribed when all
syndicate has signed up potentially including proceeds of Dec warrants (c.US$8M). Aggregate of all is US$27M
¹Offers and Commitments are made on a non-binding basis.
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