West African Resources Ltd (WAF) AI Stock Analysis

• Market Cap: AU$3.24B
• Dividend Yield: N/A
• Average Volume (3M): 9.26M
• Price to Earnings (P/E): 9.8
• Beta (1Y): 0.74
• Revenue Growth: 23.87%
• EPS Growth: 92.57%
• Country: AU
• Employees: 729
• Sector: N/A
• Sector Strength: N/A
• Industry: Gold
• EPS (TTM): 0.16
• Shares Outstanding: 1,142,328,900
• 10 Day Avg. Volume: 9,733,267
• 30 Day Avg. Volume: 9,255,588
• PEG Ratio: 0.14
• Price to Book (P/B): 1.25
• Price to Sales (P/S): 2.15
• P/FCF Ratio: -6.60
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: AU$3.46
• Price Target Upside: 23.03% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): 0.72
• Revenue Forecast (FY): AU$2.25B

• Rating: 67 Neutral
• Price Target: AU$3.00 ▲(6.76% Upside)

West African Resources Ltd demonstrates strong financial performance with robust revenue and profit growth, but faces challenges in cash flow management. The technical analysis indicates weak momentum, while the valuation suggests the stock is undervalued. These factors combined result in a moderate overall stock score.

West African Resources Ltd Business Overview & Revenue Model

Company Description

West African Resources Ltd (WAF) is a gold exploration and development company focused on advancing its projects in West Africa, particularly in Burkina Faso. The company is engaged in the acquisition, exploration, and development of mineral properties, primarily gold, and aims to become a leading gold producer in the region. WAF's flagship project is the Sanbrado Gold Project, which is designed to produce high-quality gold at competitive costs.

How the Company Makes Money

West African Resources Ltd generates revenue primarily through the extraction and sale of gold. The company has established a revenue model that includes the production of gold from its mining operations, which is then sold in the global market. Key revenue streams include the direct sale of gold bullion and potentially gold concentrates. The company also benefits from strategic partnerships with local and international mining contractors and suppliers, which enhance operational efficiency and reduce costs. Additionally, fluctuations in gold prices significantly impact the company's earnings, making it essential for WAF to effectively manage its production costs and maintain high-grade ore reserves to maximize profitability.

West African Resources Ltd Financial Statement Overview

Summary

Income Statement

Balance Sheet

Cash Flow

Breakdown
Income Statement
Total Revenue
Gross Profit
EBITDA
Net Income
Balance Sheet
Total Assets
Cash, Cash Equivalents and Short-Term Investments
Total Debt
Total Liabilities
Stockholders Equity
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West African Resources Ltd Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 2.81
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:WAF, the sentiment is Negative. The current price of 2.81 is below the 20-day moving average (MA) of 2.84, below the 50-day MA of 2.96, and above the 200-day MA of 2.64, indicating a neutral trend. The MACD of -0.04 indicates Negative momentum. The RSI at 47.03 is Neutral, neither overbought nor oversold. The STOCH value of 62.50 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:WAF.

West African Resources Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	―	―	―	―	―	―	―
GOR	79 Outperform	―	―	16.83%	24.12%	46.42%	99.69%
RMS	76 Outperform	AU$7.49B	9.46	28.58%	2.06%	36.34%	110.55%
VAU	76 Outperform	AU$5.63B	23.80	13.09%	―	130.98%	―
EMR	73 Outperform	AU$4.20B	47.68	14.25%	―	17.59%	0.98%
WGX	70 Outperform	AU$5.88B	161.56	2.43%	0.48%	89.86%	-81.65%
WAF	67 Neutral	AU$3.24B	9.79	26.84%	―	23.87%	92.57%

West African Resources Ltd Corporate Events

Van Eck Associates Corporation Ceases Substantial Holding in West African Resources Ltd

West African Resources Ltd has announced that Van Eck Associates Corporation has ceased to be a substantial holder in the company as of November 28, 2025. This change in substantial holding could impact the company’s market dynamics and investor relations, as Van Eck Associates Corporation was a significant stakeholder.

West African Resources Updates Director’s Shareholdings

West African Resources Limited has announced a change in the director’s interest, specifically regarding Richard Hyde’s holdings. The update reflects an acquisition of 484,949 ordinary shares, increasing his total holdings to 17,633,118 shares. This change in director’s interest signifies a potential strengthening of internal stakeholder confidence and could influence market perceptions of the company’s stability and growth prospects.

West African Resources Expands ASX Quotation with New Securities

West African Resources Limited has announced the quotation of additional securities on the Australian Securities Exchange (ASX). This move involves the issuance of a total of 944,544 fully paid ordinary shares, which could potentially enhance the company’s liquidity and provide more opportunities for investor engagement.

West African Resources Announces Investor Webinar

West African Resources Limited, an unhedged gold mining company, has announced an investor webinar and conference call scheduled for November 26, 2025. The event, led by Executive Chairman and CEO Richard Hyde, aims to provide updates on the company’s operations, potentially impacting its market positioning and stakeholder interests.

West African Resources Engages with Burkina Faso Government on Mining Equity and Growth

West African Resources Limited (WAF) is in discussions with the Burkina Faso Government regarding the government’s request to acquire an additional equity interest in Kiaka SA. The company has proposed increasing national participation and government revenue from new and previously closed mining projects as an alternative. These discussions aim to promote sustainable growth in Burkina Faso’s gold mining industry, with a focus on national participation, job creation, and social benefits. WAF’s operations at Sanbrado and Kiaka remain unaffected, and the company is on track to meet its gold production targets for 2025. The announcement also aims to lift the suspension of WAF’s securities from trading.

West African Resources Reports Strong Operating Cash Flow Amidst Investment and Financing Outflows

West African Resources Limited reported a net cash inflow from operating activities of $241.6 million for the current quarter, contributing to a year-to-date total of $401.1 million. Despite this positive cash flow from operations, the company experienced a net cash outflow in investing activities of $69.7 million and a significant outflow in financing activities amounting to $124.3 million, resulting in a decrease in cash and cash equivalents for the period.

West African Resources Reports Strong Q3 2025 Gold Production

West African Resources Limited reported a strong third quarter in 2025, with gold production totaling 92,721 ounces and sales of 75,892 ounces at an average price of US$3,396 per ounce. The company highlighted the performance of its Sanbrado and Kiaka operations, noting that Sanbrado produced 59,852 ounces at a sustaining cost of US$1,348 per ounce, while Kiaka contributed 32,869 ounces at a higher cost of US$1,921 per ounce. The transition of Kiaka from construction to operations phase is expected to reduce costs as full production is achieved. The company is also in discussions with the Burkina Faso government regarding potential changes in ownership of its Kiaka subsidiary.

West African Resources Ltd Releases New Presentation on Current Position and Future Outlook

West African Resources Ltd has released a presentation outlining its current position and future outlook. The presentation emphasizes that the company is not making any offers or financial product advice, and it includes non-IFRS financial measures to provide additional insights into its operations. The release highlights the company’s commitment to transparency and the provision of relevant information to stakeholders, although it does not guarantee future performance.