West African Resources Limited (ASX: WAF) Achieves Production Guidance
Production Highlights
West African Resources Limited (ASX: WAF) has announced its production update from the Sanbrado Gold Operations for the December quarter 2024. The company reported gold production of 51,178 ounces for Q4, contributing to a total of 206,622 ounces for the full year, achieving the upper end of its 2024 production guidance of 190,000 to 210,000 ounces.
The company also noted an increase in open pit mined ounces, rising by 32% in Q4. This increase was attributed to a 39% rise in ore tonnes mined, with 1,550 thousand tonnes of ore extracted at 0.8g/t grading. Additionally, underground mined ounces increased by 8% during the same period.
Financial Overview
In Q4, West African Resources sold 47,953 ounces of gold at an average price of US$2,690 per ounce. For the full year, gold sales totaled 199,550 ounces at an average price of US$2,391 per ounce. The company’s operational efficiency improved, with Q4 gold production rising by 7% compared to Q3, driven by a 5% increase in mill throughput after a planned shutdown for maintenance.
CEO’s Comments
Richard Hyde, Executive Chairman and CEO, expressed his satisfaction with the results, stating, “I would like to commend our Sanbrado team for achieving production guidance for a fourth consecutive year.” He highlighted the achievement of full-year gold production at the upper end of guidance and conveyed anticipation for the upcoming quarterly activities report.
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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