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West African Resources (WAF) investor relations material

West African Resources Investor Presentation summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Investor Presentation summary4 Sep, 2025

Strategic vision and growth targets

  • Aims to become a sustainable gold producer exceeding 500,000 ounces annually by 2029, with a production peak of 569,000 ounces in 2029 and an average of 477,000 ounces per year from 2025 to 2034.

  • Holds 12.2 million ounces in mineral resources and 6.5 million ounces in ore reserves, all unhedged, with a 10-year production target based on 83% ore reserves at conservative gold prices.

  • Over 1,300 km² of exploration permits and more than 200,000 meters of drilling planned for 2025–2026 to support resource and reserve upgrades.

  • Strong financial position with A$328 million in cash and bullion and a market capitalization of A$3.25 billion as of August 2025.

  • Focused on maximizing existing projects through resource growth, secondary crushing upgrades, and ongoing feasibility and scoping studies.

Key operations and project metrics

  • Sanbrado Gold Mine: 85% ownership, 4.7 Moz resources, 2.0 Moz reserves, 11+ year mine life, 94% recovery, 2024 production of 206,622 oz at AISC of US$1,240/oz.

  • Kiaka Gold Project: 85% ownership, 7.5 Moz resources, 4.5 Moz reserves, 18-year mine life, 90% recovery, first production in June 2025, average 255,000 oz/year (2026–2030).

  • Both projects are located in south-central Burkina Faso, with significant government participation (15% equity, 8% royalty, 1% community fund).

  • Workforce is predominantly local, with 95% Burkinabe at Sanbrado and over 90% at Kiaka.

  • Additional exploration and development at Toega and M5 South/M1 South underground targets.

Sustainability and community impact

  • Over US$370 million contributed to Burkina Faso in taxes and royalties since 2020, with US$24 million to the local development mining fund and US$9 million to community projects.

  • 2024 highlights: 206,622 oz gold produced, A$730 million revenue, A$154 million paid in taxes and royalties, A$51 million in wages and benefits, and A$7 million to the Local Development Mining Fund.

  • Community investments include building and refurbishing schools, health centers, electrification, scholarships, and resettlement programs at Sanbrado, Toega, and Kiaka.

  • Environmental initiatives include a biodiversity strategy, over 80,000 trees planted, waste recycling, and preparation for AASB S2 disclosure.

  • Occupational health and safety systems based on ISO 45001, with 5 million man-hours LTI free and TRIFR significantly below industry average.

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Frequently asked questions

West African Resources Limited is a gold mining company focused on the exploration, development, and production of gold assets in West Africa. The company’s primary operations are based in Burkina Faso, where it operates both open-pit and underground mines. West African Resources is involved in all stages of the mining process, from initial exploration to gold extraction and processing, with an emphasis on expanding its resource base and production capabilities. The company is headquartered in Subiaco, Western Australia, and its shares are listed on the Australian Securities Exchange.

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