ESG

West African retains guidance despite Burkina Faso military leadership coup

WEST African Resources has retained its gold production guidance as it reported an internal coup in Burkina Faso military leadership over the weekend.

WAF's Sanbrado operation in Burkina Faso

WAF's Sanbrado operation in Burkina Faso

The gold miner said the change in the political situation appeared to be due a disagreement within the Burkina Faso military around the management of security issues in the north and east of the country.

Those areas of Burkina Faso have been bedevilled by Islamic-associated terrorist insurgencies in recent years.

According to WAF, the new military leadership has released a statement part of which urged the people of Burkina Faso to ‘go about their business in peace'.

WAF said remains on track to meet 2022 production guidance of 220,000-240,000 ounces gold at all-in sustaining costs of US$1040-1100/oz.

Shares in WAF were down 7.6% to A97c in morning trade, capitalising the company at $990 million.

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