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West African Resources Limited (ASX:WAF)

ALERT: Price-sensitive ASX Announcement for WAF
Current share price for WAF : $2.940 0.64 (27.83%)+
Announcement
Release
30 Jul 2025 8:24AM
Price at Release
$2.300
Full Release
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Summary
West African Resources Limited reported its Quarterly Activities, highlighting significant advancements at their Kiaka and Sanbrado gold operations. The Kiaka process plant commenced operations with the first gold poured on 26 June 2025, and is expected to ramp up to commercial production by Q3 2025. The plant is currently operating at limited capacity using backup power, with plans for higher capacity once additional diesel generators arrive. The Sanbrado project saw continued growth, with substantial high-grade mineralisation discovered via drilling at the M1 South underground area. For Q2 2025, the company produced 45,611 ounces of gold from the process plant, 9% lower than the previous quarter due to a planned mill shutdown. Financially, the company remains unhedged with a notional net debt of US$72 million. Additionally, the company is aligning equity ownership of its projects with the new Burkina Faso Mining Code, increasing the State's free carried equity interest from 10% to 15%.
Key Points
  • Kiaka process plant commenced operations with first gold poured on 26 June 2025.
  • Expected ramp-up to commercial production by Q3 2025.
  • Limited capacity operations using backup power, awaiting additional generators.
  • Significant high-grade mineralisation discovered at M1 South underground area.
  • Produced 45,611 ounces of gold in Q2 2025, a 9% decrease from the previous quarter.
  • Notional net debt of US$72 million at the end of Q2 2025.
  • Alignment with Burkina Faso Mining Code increasing State's equity interest to 15%.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.