https://newsletter.mw.creamermedia.com
Africa|Construction|Financial|Flow|Gold|Mining|PROJECT|Resources|Flow
Africa|Construction|Financial|Flow|Gold|Mining|PROJECT|Resources|Flow
africa|construction|financial|flow-company|gold|mining|project|resources|flow-industry-term

West Africa Resources’ reports strong financial performance

An image of the Kiaka gold project

Kiaka’s construction and operational readiness is tracking to budget and is on schedule for first gold in the third quarter of the year

6th March 2025

By: Tasneem Bulbulia

Deputy Editor Online

     

Font size: - +

Unhedged gold mining company West African Resources produced 206 622 oz of gold at an all-in sustaining cost (AISC) of $1 240/oz in 2024.

The company’s Sanbrado gold mine and Toega gold deposit are located in Burkina Faso. It also holds 90% of the Kiaka gold project in the country, with the remaining 10% interest held by government.

The company’s unhedged gold sales amounted to 199 550 oz at an average price of $2 391/oz, realising revenue of A$730-million.

Cash flow from operating activities was A$252-million.

The company achieved a profit before tax of A$342-million and a profit after tax of A$246-million.

It had net assets of A$1.3-billion, including A$392-million in cash, at year-end.

The company’s mineral resources of 12.5-million ounces and ore reserves of 6.2-million ounces of gold are set to be updated in the second quarter of the year.

Kiaka’s construction and operational readiness is tracking to budget and is on schedule for first gold in the third quarter of the year.

“With Kiaka construction nearing completion, we are on the cusp of having two long-life, low-cost gold production centres in operation in 2025, which will see West African Resources more than double annual gold production to over 420 000 oz/y,” CEO and chairperson Richard Hyde points out. 

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Alco-Safe
Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

VISIT SHOWROOM 
Condra Cranes
Condra Cranes

ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 14 March 2025
Magazine round up | 14 March 2025
14th March 2025

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.185 0.262s - 144pq - 2rq
Subscribe Now