Looking back to the time of the Kiaka purchase, that was the time that WAF made its all time high. The market seems to be saying that this wasn't a great deal as WAF never reached that pre-KIAKA high. Execution of the Kiaka build thusfar seems without issues so let's see if the market will turn out to be right or wrong regarding Kiaka.
As for 140 million, that's not a real after tax profit but just an EBITDA before the BF cut. I think you should deduct something like 60 million in depreciation, 25 million in taxes and 5 million for the BF carried intrest leaving 50 million US for the WAF shareholders.
I doubt if this will ever be a money printing machine for shareholders. If for instnace there is a big increase in the price of gold, the Burkina Faso government will simply grab a bigger cut, be it in the form of royalties, taxes or otherwise.
WAF Price at posting:
84.3¢ Sentiment: Buy Disclosure: Held
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