West African Resources Q2 2024 Report Overview

West African Resources Limited (ASX: $WAF) has reported a strong performance in the second quarter of 2024, with Q2 gold production reaching 51,049 ounces at an AISC of US$1,158/oz. The company remains on track to achieve its 2024 annual guidance of 190,000 to 210,000 ounces at an AISC of less than US$1,300/oz. WAF also maintained a healthy cash balance of A$425 million and received significant funding under the Sprott-Coris loan facility.

Executive Commentary on Q2 Performance and Future Outlook

West African Executive Chairman and CEO Richard Hyde expressed satisfaction with the company's performance, stating, 'Sanbrado delivered another solid quarter of low-cost gold production, and WAF is on track to achieve the upper end of annual guidance of 190,000 to 210,000 ounces of gold at an AISC of less than US$1,300 per ounce.' Hyde also highlighted the progress of the Kiaka construction project, emphasizing that WAF is well-positioned to become a plus-400,000 ounce per year gold producer by Q3 2025.

Summary of Q2 Performance and Future Prospects

West African Resources' Q2 2024 report demonstrates the company's strong operational and financial performance, with robust gold production and a healthy cash balance. The company remains focused on achieving its 2024 annual guidance and is making significant progress on the Kiaka construction project. With the release of updated Ore Reserves and 10-year production targets, WAF's outlook indicates an average gold production of 480,000 ounces per annum from 2026 to 2031. The company has secured the funding needed to implement efficiency improvements and lower risks through the new owner-mining strategy for Kiaka, positioning itself for sustained growth and success in the coming years.