PRECIOUS METALS

West African meets 2022 gold guidance

Growth company turns its attention to next development

This article is 2 years old. Images might not display.

It took full-year production to 229,224oz at AISC of $1086/oz.

Guidance had been 220,000-240,000oz, with production and cost forecasts for 2023 due later this quarter.

Cash at the end of the quarter was A$173 million versus $171 million at the end of September.

Operating cashflow totaled $64 million before a $25 million tax payment.

Meanwhile, the ASX-listed company has started building the US$430 million Kiaka project down the road from Sanbrado in Burkina Faso, with $300 million in debt financing currently being targeted.

Kiaka will add around 220,000oz per annum to West African's profile.

West African is also scoping a second underground mine at Sanbrado's M5 deposit.

Shares in West African were trading this week at A$1.27, capitalising the company at $1.3 billion.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

Mining Journal Intelligence: Investor Sentiment Report 2025

Exclusive insights into the plans, priorities and preferences of 130+ mining investors and top factors influencing investment decisions in 2025.

editions

Mining Journal Intelligence World Risk Report 2024 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 117 jurisdictions globally, assessed across six risk categories and an industrywide survey.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.