West African Resources shares gain after steady March quarter
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More news: Shares in West African Resources are up nearly 3% to $2.16 after the gold miner reported steady production and sales for the March quarter. First quarter production from its Sanbrado mine in Burkina Faso was slightly lower at of 50,033 ounces, but the company said it is tracking towards the upper end of its 2024 gold production guidance of 190,000 to 210,000 ounces.
West African Resources Q1 output steady, on track to meet full-year target
The news: West African Resources has reported steady production and sales for the March quarter, keeping it on track for the full-year guidance.
The numbers: The gold miner reported first quarter production of 50,033 ounces from its Sanbrado mine in Burkina Faso, down 2% from the preceding quarter. Sales were up slightly to 48,338 ounces, but these were at a higher average price of USD2,493 per ounce. The company said it is tracking towards the upper end of its 2024 gold production guidance of 190,000 to 210,000 ounces.
The context: WAF said the numbers reflected 17% more ore mined during the quarter, partly offset by a 9% decrease in the underground mined grade in the quarter. The company said it is tracking well to achieve its 2025 guidance of 190,000 to 210,000 ounces of gold at a site sustaining cost of less than USD1,350 per ounce.
The source: ASX
