- West African Resources (WAF) operations in Burkina Faso are continuing despite political unrest in the country
- On Monday the Burkina Faso army announced it had ousted President Roch Kabore, dissolved the government and the national assembly, and closed the country’s borders
- West African Resources says its staff and contractors are safe and operations at the Sanbrado project are continuing as usual
- The company will monitor the political situation and provide updates as appropriate
- Shares slide 14.9 per cent to $1.09 in mid-session trade
West African Resources (WAF) Sanbrado Gold Operations in Burkina Faso are continuing despite political unrest in the country.
On Monday the Burkina Faso army announced it had ousted President Roch Kabore, dissolved the government and the national assembly, and closed the country’s borders.
The announcement was signed by Lieutenant Colonel Paul-Henri Sandaogo Damiba and made in the name of a previously unheard-of entity, the Patriotic Movement for Safeguard and Restoration, or MPSR as its French acronym.
An officer read the statement on state television, declaring the MPSR had decided to “end President Kabore’s post”.
The army cited the deterioration of the security situation and Kabore’s incapacity to unify the West African nation and effectively respond to problems, including an Islamist insurgency, in yesterday’s announcement.
While the officer reading the statement said the takeover had been carried out without violence and that those detained were at a secure location, there are conflicting accounts of Kabore’s situation with his whereabouts unknown.
West African Resources said its staff and contractors are safe and operations at the Sanbrado project are continuing as usual.
The company will monitor the political situation and update the market when appropriate.
Shares dropped 14.9 per cent in midday trade to $1.09 cents.