" West African Resources confirms guidance, confident about Burkina Faso operations
West African Resources (WAF) says the Burkina Faso government remains supportive of its gold mining operations in the country and is not aware of any plans to withdraw permits.
The update came after Burkina Faso President Ibrahim Traoré spoke over the weekend.
WAF said its operations at the Kiaka site continued and were on track to achieve annual guidance of 190,000 to 210,000 ounces of gold at an AISC of less than US$1300 per ounce. It remains on track to produce 4 million ounces over the next decade, with annual production set to peak in 2030 at 494,000 ounces of gold.
WAF said it has engaged with the government about the country’s new mining code announced earlier this year. President Traoré previously spoke about taking action against miners who have not adhered to the code."
WAF Price at posting:
$1.38 Sentiment: Buy Disclosure: Held
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