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West African Resources Ltd
(Sydney:WAF)
West African Resources Ltd (WAF) vs. iShares MSCI Australia ETF (EWA)
West African Resources Ltd Business Overview & Revenue Model
West African Resources Ltd Earnings Call Summary
West African Resources Ltd Financial Statement Overview
| Breakdown | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 724.37M | 658.82M | 606.13M | 711.54M | 310.31M |
| Gross Profit | 421.81M | 354.73M | 340.45M | 461.97M | 189.15M |
| EBITDA | 421.01M | 329.81M | 319.37M | 437.83M | 191.69M |
| Net Income | 223.84M | 146.87M | 164.44M | 188.96M | 89.36M |
Balance Sheet | |||||
| Total Assets | 1.97B | 1.22B | 878.71M | 804.25M | 530.71M |
| Cash, Cash Equivalents and Short-Term Investments | 391.67M | 135.08M | 173.39M | 183.41M | 95.07M |
| Total Debt | 425.97M | 149.15M | 22.18M | 25.80M | 242.14M |
| Total Liabilities | 660.42M | 315.01M | 138.14M | 249.84M | 358.45M |
| Stockholders Equity | 1.25B | 861.20M | 700.50M | 525.05M | 165.23M |
Cash Flow | |||||
| Free Cash Flow | -235.71M | -21.14M | 108.92M | 294.40M | 38.47M |
| Operating Cash Flow | 251.64M | 207.19M | 223.80M | 349.66M | 147.92M |
| Investing Cash Flow | -489.34M | -228.34M | -180.79M | -107.96M | -116.90M |
| Financing Cash Flow | 512.72M | -23.18M | -15.71M | -154.56M | -21.11M |
West African Resources Ltd Technical Analysis
West African Resources Ltd Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $3.31B | 9.99 | 26.84% | ― | 23.87% | 92.57% | |
61 Neutral | $10.31B | 6.18 | 0.76% | 2.94% | 3.30% | -36.34% | |
| ― | $2.36B | 24.17 | 13.42% | 0.58% | ― | ― | |
| ― | $1.62B | 25.46 | 18.72% | ― | ― | ― | |
| ― | $3.74B | 7.55 | 28.58% | 2.39% | ― | ― | |
| ― | $2.02B | 40.42 | 1.93% | ― | ― | ― | |
63 Neutral | AU$3.54B | 14.94 | 13.09% | ― | 130.98% | ― |
West African Resources Ltd Corporate Events
West African Resources Ltd has announced that BlackRock Group, including BlackRock Inc. and its subsidiaries, has ceased to be a substantial holder in the company as of August 8, 2025. This change in substantial holding could impact the company’s shareholder structure and influence, potentially affecting its strategic decisions and market perception.
West African Resources Ltd has released an investor presentation dated August 2025, highlighting its position as a growing mid-tier producer in the mining industry. The presentation provides a summary of the company’s operations and financial performance, emphasizing its focus on gold production. While the document contains forward-looking statements, it primarily serves as an informational overview for investors, without constituting a financial offer or advice.
West African Resources Limited has announced an updated 10-year production outlook, projecting a peak gold production of 569,000 ounces in 2029. The company plans to produce 4.8 million ounces of gold over the next decade, with significant contributions from its Sanbrado and Kiaka operations. The completion of construction at Kiaka ahead of schedule and under budget, along with stable open pit mining operations, positions the company for continued growth. The company aims to enhance production through extensive exploration drilling, which could further boost annual output and strengthen its market position in Burkina Faso.
West African Resources Ltd reported its quarterly cash flow, highlighting a net cash inflow from operating activities amounting to $86,446,000 for the current quarter. However, the company experienced a net cash outflow from investing activities of $125,919,000, primarily due to significant expenditures on property, plant, and equipment. The overall financial activities resulted in a decrease in cash and cash equivalents, impacting the company’s liquidity position.
West African Resources Limited reported a productive second quarter in 2025, with notable achievements including the production of 45,611 ounces of gold at the Sanbrado operation and the successful early completion and gold pouring at the Kiaka site. The company is transitioning to owner-operated open pit mining at Sanbrado and has made significant progress in resource definition drilling, which will be incorporated into an updated production plan. These developments support the company’s strategic goal of reaching 500,000 ounces of gold production annually by 2030.
West African Resources Limited announced it will host an investor webinar and conference call on July 30, 2025, to discuss its June 2025 quarterly report. The event will be led by Executive Chairman and CEO Richard Hyde, providing stakeholders with insights into the company’s recent performance and future prospects.
State Street Corporation, through its subsidiaries, has reported a change in its substantial holding in West African Resources Ltd. The report indicates a shift in the voting power and relevant interests held by State Street’s various entities, reflecting their strategic adjustments in investment management and voting rights. This change could influence West African Resources Ltd’s shareholder dynamics and potentially impact its strategic decisions.
West African Resources Ltd has announced a change in the interests of a substantial holder, with State Street Corporation and its subsidiaries having significant voting power in the company. This change in voting power could impact the company’s governance and decision-making processes, potentially influencing its strategic direction and operations.
West African Resources Ltd has announced the issuance of 37,310 fully paid ordinary securities, which are set to be quoted on the Australian Securities Exchange (ASX). This move is part of the company’s ongoing efforts to enhance its financial structure and potentially expand its market presence, which could have significant implications for its operational capabilities and stakeholder interests.
West African Resources Limited reported its June 2025 quarter production update, highlighting significant developments in its Sanbrado and Kiaka gold operations. Sanbrado produced 45,611 ounces of gold, with sales reaching 49,840 ounces at an average price of US$3,282 per ounce. The transition to owner-mining is on track, and the site is expected to meet its annual production guidance. Meanwhile, the Kiaka project achieved its first gold pour and is ramping up production, with the processing plant performing well during commissioning. The company’s strategic advancements are poised to bolster its market position and operational efficiency.
West African Resources Limited has successfully poured its first gold ahead of schedule and under budget at the Kiaka Gold Project in Burkina Faso. This milestone marks a significant step towards the company’s goal of becoming a major gold producer. The construction and commissioning of the project have been completed, with the processing plant performing well and ramp-up activities underway. The achievement underscores the company’s strategy of operating two long-life, low-cost gold production centers, enhancing its industry positioning and stakeholder confidence.
West African Resources Ltd has experienced a change in the interests of its substantial holder, Van Eck Associates Corporation, which now holds a reduced voting power in the company. The voting power of Van Eck Associates Corporation decreased from 7.77% to 6.36%, indicating a significant shift in their stake in the company. This change could impact the company’s shareholder dynamics and influence future decision-making processes.
West African Resources Limited announced a change in the director’s interest, with Stewart Findlay acquiring 37,310 ordinary shares through the exercise of performance rights. This change reflects the company’s ongoing efforts to align director incentives with company performance, potentially impacting stakeholder confidence and market perception.
West African Resources Ltd has announced the issuance of 37,310 fully paid ordinary securities, which will be quoted on the ASX. This move is part of the company’s strategic efforts to enhance its capital structure and potentially improve its market positioning, reflecting its ongoing commitment to growth and value creation for stakeholders.
West African Resources Limited has announced its decision to align with the 2024 Burkina Faso Mining Code by increasing the State’s free-carried equity interest in its mining projects from 10% to 15%. This change follows discussions with various stakeholders and does not affect the company’s 2025 gold production guidance or the construction schedule of the Kiaka project, which remains on track.
West African Resources Limited announced a change in the director’s interest, with Jayde Webb acquiring 10,556 performance rights in lieu of non-executive director’s fees. This move, approved by shareholders at the 2025 AGM, reflects the company’s strategy to align director incentives with long-term company performance, potentially impacting its governance and stakeholder confidence.
Mitsubishi UFJ Financial Group, Inc. has ceased to be a substantial holder in West African Resources Ltd. This change reflects a series of transactions involving the purchase of securities by an entity controlled by Morgan Stanley, affecting a significant number of fully paid ordinary shares. The implications of this shift may influence the company’s shareholder structure and market perception.
West African Resources Ltd has announced a change in its substantial holders, indicating that Mitsubishi UFJ Financial Group and First Sentier Investors have ceased to be substantial holders as of May 28, 2025. This change may impact the company’s shareholder structure and could influence its market positioning and stakeholder relationships.
Mitsubishi UFJ Financial Group, Inc. has become a substantial holder in West African Resources Limited, with a voting power of 5.78% through its relevant interest in securities held by Morgan Stanley and First Sentier Investors Holdings Pty Limited. This development signifies a significant investment move by Mitsubishi UFJ Financial Group, potentially impacting the company’s influence in West African Resources Limited and indicating strategic positioning in the market.
West African Resources Ltd has announced a significant change in its substantial holders, with State Street Bank and Trust Company and its subsidiaries becoming a major stakeholder. This development indicates a shift in the company’s shareholder structure, potentially impacting its governance and strategic decision-making processes.
West African Resources Ltd has announced that Mitsubishi UFJ Financial Group, through its subsidiary First Sentier Investors Holdings Pty Limited, has acquired a substantial holding in the company. This acquisition gives Mitsubishi UFJ Financial Group a significant voting power in West African Resources Ltd, potentially impacting the company’s strategic decisions and market positioning.
West African Resources Ltd has announced a change in substantial holdings, with State Street Corporation and its subsidiaries ceasing to be substantial holders as of May 23, 2025. This change in holdings may affect the company’s voting securities and potentially alter its market dynamics, reflecting shifts in stakeholder interests and corporate governance.
Mitsubishi UFJ Financial Group, Inc. has ceased to be a substantial holder in West African Resources Limited as of May 23, 2025. This change was due to the purchase of securities by an entity controlled by Morgan Stanley, affecting a significant number of fully paid ordinary shares and votes, which may impact the company’s shareholder structure and influence.
Mitsubishi UFJ Financial Group, Inc. has become a substantial holder in West African Resources Limited, acquiring a significant voting power through its interests in Morgan Stanley and First Sentier Investors Holdings Pty Limited. This acquisition gives Mitsubishi UFJ Financial Group, Inc. a voting power of 5.21% in West African Resources Limited, potentially impacting the company’s governance and strategic decisions.
West African Resources Ltd has announced that First Sentier Investors Holdings Pty Limited and its related bodies have ceased to be substantial holders in the company as of May 21, 2025. This change in substantial holding may impact the company’s shareholder structure and influence its market dynamics, potentially affecting investor perceptions and stakeholder interests.
West African Resources Ltd has announced that Mitsubishi UFJ Financial Group (MUFG) has acquired a substantial holding in the company through its subsidiary, First Sentier Investors Holdings Pty Limited. This acquisition grants MUFG significant voting power and control over the exercise of rights attached to the securities, marking a notable shift in the company’s shareholder structure. The involvement of a major financial entity like MUFG could potentially enhance West African Resources Ltd’s market positioning and investor confidence, given MUFG’s global financial influence.
West African Resources Limited has announced significant high-grade gold mineralization results from its recent diamond drilling at the M1 South Main Deeps Resource within the Sanbrado Gold Operations in Burkina Faso. The results, which include impressive gold grades and widths, are expected to enhance the company’s Mineral Resource Estimate and Ore Reserves, with an updated report and a new 10-year production outlook anticipated in Q3 2025. These developments, along with the nearing completion of the Kiaka build, position the company to operate two long-life, low-cost gold production centers by 2025, supporting its strategic growth objectives.
Mitsubishi UFJ Financial Group, Inc. has ceased to be a substantial holder in West African Resources Limited as of May 19, 2025. The change in substantial holding was due to the purchase of securities by an entity controlled by Morgan Stanley, affecting a significant number of fully paid ordinary shares. This development may impact the company’s shareholder structure and influence its market dynamics.
West African Resources Ltd announced that First Sentier Investors Holdings Pty Limited and its related entities have ceased to be substantial holders in the company as of May 15, 2025. This change in substantial holding could impact the company’s shareholder structure and influence its market dynamics, potentially affecting investor confidence and future strategic decisions.