Sanbrado Gold Project

West African Resources (ASX/TSX-V: WAF) is developing the Sanbrado Gold Project, a high-grade gold discovery in Burkina Faso, West Africa.

Sanbrado updated Open Pit and Underground Feasibility Study confirms:

Base case is stated on a 100% project basis at US$1,300/oz

  • Average annual production of 211,000 ounces gold over first 5 years of mine life
  • 76% increase in Probable Reserves to 1.6 million ounces (20.4Mt at 2.4g/t gold)
  • 16 month post-tax pay back on US$185 million pre-production capital costs
  • All-In Sustaining Costs (AISC) of US$551/oz over first 5 years and US$640 over life of mine
  • Pre-tax NPV5% of US$567m (A$754m) and pre-tax IRR 62%
  • Post-tax NPV5% of US$405m (A$540m) and post-tax IRR 49%
  • Environmental approval granted, updated mining licence expected Q3 2018
  • Discussions with project lenders in progress, debt package expected by end Q4 2018

Mineral Resource Estimate (MRE) upgrade includes:

  • 40% increase in Indicated Resources at M1 South to 780,000oz gold, (1.5Mt at 15.9g/t Au)
  • Project MRE now 2.35Moz gold Indicated, 0.55Moz gold Inferred

Substantial further upside to Project through:

  • Recent high-grade beneath reserves shows scope to extend life past 4.5 years at M1 South
  • Scoping Study to investigate underground potential of M5
  • Potential to increase plant throughput and compress mining schedule in later years

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Corporate Overview

West African Resources Limited (“WAF”) is a dual ASX and TSX-V listed gold company,  dedicated to creating shareholder value through the acquisition and development of gold projects in Burkina Faso, West Africa. A Definitive Feasibility Study for the Sanbrado Gold Project has confirmed it as a robust project with strong early cashflow, rapid payback of capital and expected production of +200,000oz gold per year. 

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Feasibility Study

West African Resources hosted a conference call to discuss its  Open Pit and Underground Feasibility Study, released to the market on Friday 22 June 2018.

To access a recording of the call, click “Read more” below.

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