West African Resources reiterates FY production guidance on strong output at Burkina Faso
Make us a preferred source
Make us a preferred source on Google
The news: West African Resources maintained its FY production guidance of between 430,000 and 490,000 ounces of gold, with an all-in sustaining cost (AISC) expected to remain below USD1,900 ($2,655) per ounce.
The numbers: The miner recorded gold production of 107,728 ounces in the first quarter at an AISC of USD1,921 per ounce. Gold sales for the period totalled 104,145 ounces at a realised price of USD4,945 per ounce.
At the end of the quarter, the company’s cash balance reached $847 million, with an additional $213 million from unsold gold bullion.
The company has set a 10-year gold production target of 5.3 million ounces and mineral resources increase to 13.7 million ounces of gold.
The context: West African Resources said it is on track to meet its annual production guidance due to the increased output from both the Sanbrado and Kiaka operations in Burkina Faso.
What they said: "WAF is on an exciting growth trajectory, and will continue to create value through the drill-bit with a USD20 million exploration budget and more than 100,000 metres of drilling planned at our Sanbrado and Kiaka production centres and surrounding exploration areas in 2026,” CEO Richard Hyde said.
The source: ASX
