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WAF maintains full-year production guidance

27th August 2024

By: Sabrina Jardim

Creamer Media Online Writer

     

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ASX-listed unhedged gold mining company West African Resources (WAF) has produced 107 644 oz of gold at $1 223/oz all-in-sustaining-costs (AISC), generating A$116-million in cash flow from operations for the half-year ended June 30.

Chairperson and CEO Richard Hyde says the company maintains its production guidance for the year at 190 000 oz to 210 000 oz of gold at an AISC of less than $1 300/oz.

He points out that the company’s unhedged resources now stand at 12.8-million ounces of gold and ore reserves at 6.4-million ounces of gold.

Hyde notes that construction of the Kiaka project, in Burkina Faso, is progressing well for first gold in the third quarter of 2025, adding that WAF is on track to produce four-million ounces of gold over the next decade, with yearly production set to peak at 473 000 oz of gold in 2029.

Additionally, WAF has reported unhedged gold sales of 101 954 oz at $2 199/oz average price, with revenue of A$344-million for the period.

The company also reported a profit before tax of A$133-million, while profit after tax is A$92-million.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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