WAF passes gold milestones as Sanbrado ramp-up continues

WEST African Resources passed two key hurdles last quarter as gold production at its Sanbrado operation in Burkina Faso continues to ramp up.
WAF passes gold milestones as Sanbrado ramp-up continues WAF passes gold milestones as Sanbrado ramp-up continues WAF passes gold milestones as Sanbrado ramp-up continues WAF passes gold milestones as Sanbrado ramp-up continues WAF passes gold milestones as Sanbrado ramp-up continues

Production on the increase at Sanbrado, Burkina Faso

Gold produced went past 50,000oz and all-in sustaining costs fell below US$1000/oz, with the actual numbers being 50,299oz at $992/oz.

Updated life-of-mine production guidance will be provided by the company later this quarter, with WAF's executive chairman and CEO Richard Hyde telling a conference call management were "very happy" with open cut and underground ore reconciliations as mining operations continue to ramp up and optimise.

WAF had A$95 million cash on hand at the end of December after $54 million in cash was generated from operating activities during the quarter.

Notional net debt decreased by US$23 million to $101 million, with repayment of the Taurus facility a key focus for the miner in 2021.

Shares in WAF were down 5% to A92.7c in midday trade, capitalising the company at $815 million.