Corporate Overview
West African Resources (ASX: WAF) is focused on creating shareholder value through the acquisition, exploration and development of gold projects in West Africa. West African is forecast to produce more than 4.0Moz gold over the period 2024-2033.
The company’s unhedged Mineral Resources and Ore Reserves stand at 12.8Moz and 6.1Moz gold, respectively.
West African poured first gold at its Sanbrado Gold Operations in Burkina Faso in March 2020, ahead of schedule and under budget. Since then, it has continued to expand its operations, securing 90% of the Kiaka Gold Project in Burkina Faso from B2 Gold Corp and partner GAMS-Mining F&I Ltd in 2021.
A feasibility study for the Kiaka Project confirmed its potential as a long-life, low-cost gold project, projected to yield an average of 219,000oz of gold production per annum for 18.5 years at AISC of US$1,052/oz. The project build is well underway, with Kiaka on track to pour first gold in Q3 2025.
The company also holds the Toega Gold Deposit, which contains a 1.3Moz gold Resource. Toega is located within trucking distance (14km) of Sanbrado and will be a satellite mining operation, providing 6.5 years of ore feed to the Sanbrado processing plant. It is expected to commence production in H2 2025.
The company’s MV3 Prospect, a second satellite deposit located 6km from Sanbrado, contains a 252,000oz Resource.
WAF also has an MOU with neighbour Orezone Gold Corporation, whereby the two companies are investigating synergies on their respective mining projects that could unlock significant value for all stakeholders.
WAF project locations