West African hits top end of output guidance after Q4 uplift
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The news: West African Resources has met the upper end of its 2024 guidance, after an uplift in Q4 production at its Sanbrado mine in Burkina Faso.
The numbers: The gold miner reported gold production of 51,178 ounces for the December quarter, an increase of 7% year over year.
Full-year output totalled 206,622 ounces, towards towards the upper end of the miner's 2024 gold production guidance of 190,000 to 210,000 ounces.
The company sold 47,953 ounces of gold at an average price of USD2,690 ($4,316) per ounce during the quarter, bringing full-year gold sales to 199,500 ounces at an average price of USD2,391 per ounce.
The context: In October, West African reported a decrease in production for the September quarter, due to a lower head grade and recovery during the period.
It followed a spell of uncertainty over the future of the miner's Sanbrado and Kiaka gold projects in Burkina Faso after the country's military junta said it was planning to withdraw mining permits from some foreign companies.
West African was later reassured by government officials that its mining permits in Burkina Faso are in "good standing".
The source: ASX announcement
