A shame that most of the focus is on the capital raising, instead of on what WAF has announced in regards to it's flagship asset that increased in mine life, production profile and benefits to all it's stakeholders...
WAF will now come within a whisker of being a 500k p.a producer by 2030, though.... this excludes any further success at Sanbrado (or further expansion of U/G operations there).
I mean, WAF now have 6.4m ounces in reserves.... and we know Sanbrado is going to add many more ounces, especially U/G.
Whilst the share price may come under short term pressure, I expect the bigger fundies to actually prefer WAF with a lower amount of risk, WAF should now have close to $600m+ AUD in liquidity, with $265m USD in debt (pretty amazing considering the total capex is now around $565m USD). Project is already 50% complete with 75% of costs now fixed. Still fully unhedged too.
Hopefully WAF have had a really solid quarter to further bolster its cash/bullion position.
WAF Price at posting:
$1.59 Sentiment: Buy Disclosure: Held
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