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West African maintains full-year production guidance

The processing plant at the Sanbrado mine

The processing plant at the Sanbrado mine

24th October 2023

By: Creamer Media Reporter

     

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ASX-listed West African Resources, which owns and operates the Sanbrado mine, in Burkina Faso, produced 55 768 oz of gold at an all-in sustaining cost (AISC) of $1 164/oz in the quarter ended September 30.

This takes its year-to-date production to 168 776 oz, with the company remaining on track to deliver its guided full-year output of between 210 000 oz and 230 000 oz.

West African sold 50 768 oz of gold at an average price of $1 932/oz in the third quarter.

Third-quarter cash flow from operating activities reached A$49-million, taking the company’s cash balance to A$153-million as at September 30.

During the quarter, the company also spent A$44-million in capital expenditure at its Kiaka gold project, which is located about 45 km from the Sanbrado mine.

“. . . the project remains on budget and schedule to pour first gold in the second half of 2025. Kiaka will be a long-life low-cost mine averaging 219 000 oz/y of gold production for 18.5 years at an AISC of $1 052/oz.

“West African is on track to become a plus 400 000 oz/y per annum gold producer with the development of our second gold mine at Kiaka,” says West African chairperson and CEO Richard Hyde.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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