Ann: WAF Resource, Reserve and 10 year production update 2023, page-37

Cheers Dwuuuu. Though I would have liked for the team to have compared ORRs project to Kiaka. Pretty sure Kiaka kicks its ass.

@mooselington - definitely a correlation.
However, you mention that there was another attack in BF. Yep... but... the government has just undertake a major mobilization to begin a major campaign against the insurgents. Sadly, the events like that will increase, however... hopefully it will in fact see a change in fortune for the Country as it tries to reassert control over the parts of the country under threat. Perhaps you are right about the short term share price movements... I am here for Richard to have a 3rd mine built and be outperforming PRU.

@cwhite688 - for what it's worth, I am not worried about the debt at all, like yourself.
By the time WAF start full construction at Kiaka, I believe worst case, they will use all of the debt the facility has available for perhaps 2 years (less using the sport price), then be paying it down incredibly fast. Kiaka DFS clearly shows that Kiaka is going to be highly profitable for the first 5 years in particular. The strip ratio us just 1.8!


Within 24 months the debt will be gone (assume they borrow $300m USD), just from Kiaka. That is at $1750 USD.
Plus, this excludes Sanbrado, which will also be accumulating free cash flow. Though I concede this is pre-tax.



I continue to ponder what else WAF must be debating as they go through to build Kiaka. Toega sits there, with its grade almost double Kiaka.... its just up the road. What's to stop them mining Toega and feeding Kiaka and Sanbrado...?

Looking forward to reading the quarterly, though I think the June Q will be more impressive in terms of free cashflow, as they sold quite a bit less gold in the March Q than they produced.