The West African Resources Ltd (ASX: WAF) share price is on investors' radar today after the gold miner reported a first-half net profit after tax (NPAT) of $437 million and declared a special dividend of 20 cents per share.
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What did West African Resources report?
- Revenue: $1.46 billion for the half year ended June 2026
- NPAT: $437 million
- Operating cash flow: $690 million
- Gold production: 232,905 ounces at an all-in sustaining cost (AISC) of US$1,823/oz
- Gold sales: 214,883 ounces at US$4,744/oz realised price
- Special dividend: 20 cents per share (unfranked), totalling $228.8 million
- Cash and bullion balance: $876 million cash plus 42,453 ounces of unsold gold bullion
What else do investors need to know?
West African Resources achieved record revenue and profit off the back of its first full six months of combined production from the Sanbrado and Kiaka operations. The company noted no significant health or safety incidents during the half, reflecting positively on operational standards.
Shareholders can expect a 20 cents per share special dividend—unfranked, with a record date of 18 September and a payment date of 7 October 2026. West African Resources will also accelerate repayments on its secured debt facilities in the coming 12 months, helping to strengthen its balance sheet even further.
What did West African Resources management say?
Executive Chairman and CEO Richard Hyde said:
WAF delivered an outstanding result for the first half of 2026, with the Group's first full six months of combined production from Sanbrado and Kiaka. We are pleased to reward shareholders with a 20 cents per share special dividend and intend to accelerate debt repayments with our secured lenders over the next 12 months.
What's next for West African Resources?
West African Resources is looking to build on its strong start to the year, supported by its updated 10-year production outlook and ongoing investment in growth. Pre-production mining at Toega is making good progress, and more than 100,000 metres of exploration drilling is planned for 2026.
With two large, low-cost, and long-life gold production centres, the company is positioning itself for long-term success. Management's focus remains on operational excellence, healthy cash flow generation, and ongoing shareholder returns.
West African Resources share price snapshot
Over the past 12 months, West African Resources shares have risen 37%, outperforming the S&P/ASX 200 Index (ASX: XJO), which has risen 1% over the same period.
