MINING REFINING

West African Resources achieves upper end of full-year gold output guidance

Wed Jan 08 2025

ASX-listed West African Resources has reported a 7% quarter-on-quarter increase in gold production to 51 178 oz in the three-months ended December 31, bringing full-year production to 206 622 oz. This compares to 226 823 oz produced in the prior year.

The company attributes the higher quarterly production to a 5% increase in mill throughput following a planned shutdown in the prior quarter for a mill reline. Notably, the company’s 90%-owned Sanbrado gold mine, in Burkina Faso, milled 897 000 t of ore in the reporting quarter at a head grade of 1.9 g/t and a recovery rate of 92.4%.

In turn, West African sold 47 953 oz of gold during the fourth quarter at an average price of $2 690/oz, while full-year gold sales amounted to 199 550 oz at an average price of $2 391/oz. The full-year production of 206 622 oz was at the upper end of the company’s guidance of between 190 000 oz and 210 000 oz

Production from the mine is expected to average about 211 000 oz/y from 2024 to 2033 as the company implements an underground mining plan. Meanwhile, first gold production from the 90%-owned Kiaka project is expected in the third quarter this year, which will produce about 234 000 oz/y for 20 years.

Source: https://www.miningweekly.