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Highlights
- West African Resources (ASX:WAF) achieved full-year gold production of 206,622 ounces in 2024, exceeding expectations.
- December quarter production reached 51,178 ounces, with annual sales of 199,550 ounces at an average price of US$2,391/oz.
- Strong performance in open pit and underground mining contributed to record results, with a 39% rise in ore tonnes mined in Q4.
Detailed Overview
West African Resources Limited (ASX:WAF) has announced an impressive performance at its Sanbrado Gold Operations in Burkina Faso for 2024, achieving the upper limit of its annual production guidance. The company reported gold production of 206,622 ounces for the year, showcasing its operational efficiency and consistent growth trajectory.
During the December quarter, production reached 51,178 ounces, contributing significantly to the full-year total. Sales of 47,953 ounces during the same period fetched an average price of US$2,690/oz. For the full year, gold sales amounted to 199,550 ounces at an average price of US$2,391/oz, underscoring robust market demand and favorable pricing conditions.
The company demonstrated operational strength in its mining activities, with the fourth quarter marking a 39% increase in ore tonnes mined. A total of 1,550,000 tonnes of ore was mined during this period, yielding 41,108 ounces of gold at a grade of 0.8 grams per tonne (g/t). Open pit mining operations showed remarkable growth, with a 32% increase in ounces mined compared to the previous quarter. For the year, open pit mining achieved 3,935,000 tonnes of ore at a grade of 0.9 g/t, resulting in 112,830 ounces of gold.
Underground mining operations also contributed significantly, with an 8% increase in ounces mined during the December quarter. This balanced performance between open pit and underground sources highlights the company's ability to optimize its resources and maintain steady production levels.
Executive Chairman and CEO Richard Hyde expressed satisfaction with the company’s performance, emphasizing that this marked the fourth consecutive year of achieving production guidance. Hyde commended the Sanbrado team for its consistent execution, noting that the 2024 output of 206,622 ounces was at the upper end of the annual guidance range of 190,000 to 210,000 ounces.
The strong production and sales performance solidifies West African Resources’ position as a leading gold producer in the region. The company is expected to release a comprehensive quarterly activities report, which will provide further insights into operational achievements and future plans.
West African Resources’ sustained success at the Sanbrado Gold Operations reflects its commitment to operational excellence and resource optimization, positioning it for continued growth in the competitive gold mining sector.
