Company Overview - West African Resources (WAF) aims to become a sustainable +500koz gold producer by 2029 [36, 94] - The company targets an average production of 477,000 oz per annum from 2025 to 2034 [43] - WAF possesses 122 million ounces of unhedged gold resources and 65 million ounces of unhedged gold reserves [23, 94] - As of June 30, 2025, WAF held A$328 million in cash and bullion [23] - The market capitalization of WAF was A$2713 million as of July 25, 2025 [23, 98] Sanbrado Gold Operations - Sanbrado's resources are 47 million ounces of gold and reserves are 20 million ounces of gold [48] - Sanbrado's 2024 production was 206,622 oz at an AISC of US$1,240/oz [48] - The average annual production from Sanbrado is projected to be 243,000 oz from 2025 to 2034 [52] Kiaka Gold Project - Kiaka's resources are 75 million ounces of gold and reserves are 45 million ounces of gold [70] - The pre-production capex for Kiaka was US$447 million [70] - Kiaka is expected to produce an average of 248,000 oz of gold per year from 2026 to 2030, and 234,000 oz/yr LOM [70] Exploration and Growth - WAF plans over +200,000m of drilling in 2025-26 [43, 94] - Toega has an Open Pit reserve of 95 Mt at 19 g/t gold for 569,000 oz gold [67] - Toega has an Underground resource 49 Mt at 35 g/t for 560,000 oz gold [67]
West African Resources (WAF) 2025 Earnings Call Presentation
2025-08-06 01:00