The West African Resources Ltd (ASX: WAF) share price is on the radar after the company posted record group gold production of 127,950 ounces for the September quarter, helping YTD output to reach 360,857 ounces and supporting full-year guidance.
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What did West African Resources report?
- Q3 Group gold production: 127,950 ounces
- Q3 Group gold sales: 135,245 ounces at an average realised price of US$4,240/oz
- Year-to-date gold production: 360,857 ounces
- Year-to-date gold sales: 350,127 ounces at US$4,550/oz
- Mining commenced at the M5 South underground deposit
- On track to achieve 2026 annual production guidance of 430,000–490,000 ounces
What else do investors need to know?
Mining at the M5 North open pit at Sanbrado improved, showing an 8% increase in mined ounces over the previous quarter, although slightly lower ore tonnes were processed. At Kiaka, open pit mining delivered an 11% boost in mined ounces, driven by more ore tonnes despite a slight dip in grade.
The company received government approval to update the Sanbrado life-of-mine plan, allowing for M5 South underground mining to kick off. Although explosives supply at Kiaka remains a bottleneck, improvements were seen with better supplier performance and onboarding of a second supplier.
What did West African Resources management say?
Executive Chairman and CEO Richard Hyde said:
WAF delivered another record quarter in Q3, with Group gold production of 127,950 ounces from our two large low-cost gold production centres of Sanbrado and Kiaka, which maintains our run rate at over 500,000 ounces per annum. YTD production of 360,857 ounces well-positions WAF to achieve our 2026 annual production guidance of 430,000 – 490,000 ounces of gold. I look forward to releasing our full quarterly activities report in the coming weeks.
What's next for West African Resources?
West African Resources remains confident in achieving its 2026 annual gold production guidance, with strong operational performances at both Sanbrado and Kiaka. Development at M5 South underground is underway, with stoping due to begin in early H2 2027.
The company will continue to address operational challenges, such as explosives access at Kiaka, and expects greater flexibility in its mine plan to support steady production going forward.
West African Resources share price snapshot
Over the past 12 months, West African resources shares have risen 28%, outperforming the S&P/ASX 200 Index (ASX: XJO), which has declined 2% over the same period.
