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The latest announcement is out from West African Resources Ltd ( (AU:WAF) ).
West African Resources reported a record cash balance of A$847 million for the March 2026 quarter, alongside unsold gold bullion worth A$213 million, as strong operations at its Sanbrado and Kiaka mines in Burkina Faso delivered 107,728 ounces of gold at an all-in sustaining cost of US$1,921 per ounce. Quarterly gold sales reached 104,145 ounces at a high realised price, generating A$440 million in operating cash flow and keeping the company on track to meet its 2026 production guidance of 430,000 to 490,000 ounces at an AISC below US$1,900 per ounce.
The company also upgraded its Mineral Resources to 13.7 million ounces and Ore Reserves to 7 million ounces, supporting a 10-year production target of 5.3 million ounces with output expected to peak at 596,000 ounces in 2030. Management highlighted ongoing operational improvements at Kiaka, planned increases in underground production at Sanbrado, and a US$20 million exploration budget for over 100,000 metres of drilling in 2026, underscoring an ambition to become a sustainable 500,000-plus ounce per year gold producer amid evolving local ownership arrangements in Burkina Faso.
The most recent analyst rating on (AU:WAF) stock is a Buy with a A$4.50 price target. To see the full list of analyst forecasts on West African Resources Ltd stock, see the AU:WAF Stock Forecast page.
More about West African Resources Ltd
West African Resources is an unhedged gold mining company listed on the ASX and focused on Burkina Faso, where it operates the Sanbrado and Kiaka gold production centres. The group targets large-scale, low-cost gold production, supported by substantial Mineral Resources and Ore Reserves and an active exploration program aimed at long-life, high-margin operations.
Average Trading Volume: 9,435,820
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$3.93B
For detailed information about WAF stock, go to TipRanks’ Stock Analysis page.