I don’t tend to use PE for gold miners given often variable mine lives and the tax/ownership structure differs a lot between countries. WAF does have the benefit of very good mine life visibility at both assets though.
Ounces likely to be higher than 400koz, and the company is pushing the path to 500koz now.
Kiaka costs will be interesting. The feasibility study was done at a peak in mining inflation.
Burkina Faso fixes diesel prices so not getting any flow through from lower fuel costs yet. If they can do a higher throughput than in the study it’ll be helpful. Hoping for less than US$1300/oz AISC.
WAF Price at posting:
$2.20 Sentiment: Buy Disclosure: Held
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