West African Resources (WAF) Mining Forum Americas 2026 summary

Financial performance and outlook

• Market capitalization stands at AUD 4.1 billion with over AUD 1 billion in cash and bullion at the end of June, expected to increase next quarter.

• Half-year profit reached AUD 437 million, with full-year profit projected to approach AUD 1 billion.

• Maiden dividend of AUD 0.20 per share declared, totaling about AUD 240 million, with plans to continue regular dividends.

• Production costs are tracking under $1,900 per ounce, supporting strong cash flow.

• Price-earnings ratio is around 4, reflecting a low valuation relative to earnings.

Operations and growth strategy

• Annual gold production is on a 500,000-ounce run rate, with a 10-year plan peaking near 600,000 ounces.

• Over 100,000 meters of drilling annually supports resource upgrades and expansion.

• Kiaka mine, commissioned less than a year ago, has a 16-year mine life and is being upgraded for additional power to boost output.

• Government of Burkina Faso is acquiring an additional 25% stake in Kiaka, with the deal to be finalized by year-end.

• Sanbrado mine life extended to 2042, with Toega ore processing to begin in the first quarter of next year.

Community, ESG, and workforce initiatives

• Nearly 4,000 staff and contractors employed, with a focus on local workforce development and over 32,000 hours of training.

• Significant investments in community projects, education, and local infrastructure, including AUD 18 million in direct community spending and nearly $50 million to the local development fund.

• Safety performance exceeds industry averages, with a TRIFR of 1.35 compared to 5.7 in Australia.

• Over $850 million paid in royalties and taxes since 2020.

• ESG programs aligned with international standards, with a focus on responsible mining and annual reporting.