West African Resources Ltd: A Glimpse into the Future of Gold Production

In a recent announcement that has caught the attention of investors and industry watchers alike, West African Resources Limited (ASX: WAF) has unveiled ambitious plans for its gold production, projecting a peak output of 569,000 ounces by 2029. This news comes as part of a broader strategy to capitalize on the company’s significant mineral resources, with unhedged mineral resources estimated at 12.2 million ounces of gold. The company’s operations, spanning West Africa and Australia, are set to play a pivotal role in achieving these targets.

Strategic Developments Across Key Projects

West African Resources has outlined a comprehensive plan across its major projects, including Sanbrado, Kiaka, and the M5 underground extension, to bolster its production capabilities. At Sanbrado, production is expected to increase by 15%, averaging 243,000 ounces per annum from 2025 to 2034, with a peak of 319,000 ounces in 2030. The mine plan has been extended to 2035, with a significant development being the installation of a secondary crusher in 2029, coinciding with the commencement of Toega underground operations.

Kiaka has seen remarkable progress, with construction completed ahead of schedule and under budget. The project is on track, with open pit mining operations stable and meeting budget expectations. A ramp-up of the process plant is progressing as planned, with production set to average 248,000 ounces of gold per annum from 2026. A secondary crushing installation in 2028 is planned to maintain a fresh ore throughput of 10 Mtpa.

The M5 underground extension is another area of focus, with 30,000 meters of underground drilling planned for 2025-26 to extend the resource at depth. This exploration drilling is part of a broader +200,000 meters exploration drilling initiative, underscoring the company’s commitment to growth and resource development.

Financial and Operational Highlights

West African Resources’ strategic initiatives are underpinned by a solid financial and operational foundation. The company boasts ore reserves of 6.5 million ounces of gold and a market capitalization of 2.68 billion AUD. With a price-to-earnings ratio of 11.877, the company is positioned as a compelling investment opportunity in the metals and mining sector.

The company’s close price as of August 3, 2025, stood at 2.33 AUD, reflecting a positive trajectory from the 52-week low of 1.18 AUD in October 2024. This financial performance, coupled with the strategic developments across its key projects, paints a promising picture for West African Resources’ future.

Looking Ahead

As West African Resources gears up for its 2025 annual and special meeting of shareholders, to be conducted online on September 3, 2025, the company is poised for a period of significant growth and development. With a clear focus on maximizing its gold production and extending its mine plans, West African Resources is well-positioned to capitalize on the opportunities within the metals and mining sector.

Investors and industry observers will undoubtedly keep a close eye on the company’s progress, as it continues to navigate the challenges and opportunities of the gold exploration and development landscape. With a robust strategy in place and a clear vision for the future, West African Resources Limited is set to make a significant impact in the years to come.