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West African Resources Limited (ASX:WAF)

ALERT: Price-sensitive ASX Announcement for WAF
Current share price for WAF : $3.910 0.47 (13.66%)+
Announcement
Release
21 Apr 2026 8:21AM
Price at Release
$3.440
Full Release
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Summary
West African Resources Limited (WAF) has announced that the Burkina Faso Government has issued a decree authorizing Société de Participation Minière du Burkina Faso (SOPAMIB) to acquire an additional 25% shareholding in Kiaka SA for approximately A$175 million, valued at seventy billion CFA francs. WAF will collaborate with the government to finalize the acquisition by the end of CY 2026 and plans to distribute the cash proceeds from the sale to its shareholders via a special dividend. The decree does not affect WAF's Sanbrado and Toega operations. Extensive discussions with SOPAMIB have aimed at establishing a long-term partnership. The publication of the decree has clarified government interest in Kiaka and lifted the trading halt of WAF's securities.
Key Points
  • Burkina Government decree authorizes SOPAMIB to acquire 25% of Kiaka SA for approximately A$175 million.
  • The additional shareholding is valued at seventy billion CFA francs.
  • WAF will cooperate with the government to finalize the acquisition by end of CY 2026.
  • Proceeds from the sale will be distributed to WAF shareholders as a special dividend.
  • Sanbrado and Toega operations are unaffected by the decree.
  • WAF's discussions with SOPAMIB have been extensive and focused on long-term partnerships.
  • The decree has removed uncertainty regarding governmental interest in Kiaka.
  • WAF's securities trading halt was lifted following this announcement.
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.