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West African Resources (ASX:WAF) hit the upper limit of its production expectations last year, according to an update from the December quarter, with full-year gold production of 206,622 ounces (oz) for 2024 from its Sanbrado Gold Operations in Burkina Faso.
Production for the quarter had come in at 51,178 oz, while sales of the precious metal were 47,953 oz at an average price of US$2,690/oz for the same period, bringing the sales total for 2024 to 199,550 oz at an average price of US$2,391/oz.
WAF’s production data for the fourth quarter was also impressive, with the number of ore tonnes mined during the period rising by 39% (or 1,550,000 tonnes of ore mined at 0.8g/t for 41,108 ounces of gold).
Specifically, the Perth-headquartered company said the number of ounces taken from open pit mining was also 32% higher in the fourth quarter compared to the previous period. Open pit mining for the year was recorded at 3,935,000 tonnes of ore mined at a grade of 0.9g/t for 112,830 ounces of gold.
The ounces mined from underground sources were also up 8% during December’s quarter.
Executive chairman and CEO Richard Hyde said he was pleased the company remained on a winning streak.
“I would like to commend our Sanbrado team for achieving production guidance for a fourth consecutive year,” he said.
“Full-year gold production of 206,622 ounces was at the upper end of our 2024 annual guidance of 190,000 to 210,000 ounces.
“We look forward to providing our full quarterly activities report in the coming weeks.”
WAF has been trading at $1.49.
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