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West African Resources

Posted by ipso facto @ 17:29 on January 24, 2023  

These guys are doing very well but are thinly traded in the US. Since they pulled off the Canadian exchange you hardly see any of their news in the US. Being in W. Africa is a consideration.

WAF Achieves 2022 Production Guidance with 229,224 oz at AISC of US$1,086/oz

2022 guidance achieved with annual gold production of 229,224 oz at AISC of US$1,086/oz
Q4 gold production of 49,807 oz at AISC of US$1,286/oz
Q4 unhedged gold sales of 55,364 oz at an average gold price of US$1,758/oz
A$64m of operating cashflow in Q4 before A$25m tax instalment
A$173m cash at end of Q4 2022
Kiaka project:
Earthworks commenced
Awarded ECPM contract to Lycopodium
Awarded SAG and ball mill package to Metso Outotec
Commenced shortlisting proposals targeting US$300 million debt financing for Kiaka
M1 South significant reserve definition diamond drilling results included:
25m at 90.17 g/t gold
24m at 38.56 g/t gold
26m at 21.86 g/t gold
20m at 19.47 g/t gold
19.5m at 16.21 g/t gold
MV3 East significant high-grade diamond drilling results included:
20.5m at 2.98 g/t gold
16m at 2.88 g/t gold
21m at 2.16 g/t gold
12m at 2.02 g/t gold
M5 underground scoping study commenced, resource definition drilling commenced
Next quarter milestones:
Annual Reserve & Resource update, 10-year production outlook, and 2023 guidance
Appoint preferred lenders for Kiaka debt finance
Further drilling results from M1 South underground and M5 South deeps

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Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.