News Articles for Richard Hyde

Trading in West African Resources shares will resume tomorrow for the first time in three months after a brief and imprecise statement on ownership of its prized mine in Burkina Faso.

A day after announcing a half-year profit of $215 million, West African Resources has entered a trading halt.

West African Resources has announced a half-year profit of $215 million, as it aims to end CY25 with increased production.

Burkina Faso-based goldminer West African Resources has unveiled its updated 10-year production outlook, aiming for an annual peak of 569,000 ounces in CY2029.

Richard Hyde-led West African Resources has told the market it will align with the 2024 Burkina Faso mining code, which was implemented in August.

West African Resources has begun mining and crushing at its Kiaka gold project in Burkina Faso, as it moves towards its aim of becoming a 420,000 ounces per annum gold producer.

Setting an annual production guidance of 190,000-210,000 ounces of gold for the 2025 calendar year at its Sanbrado gold operation in Burkina Faso, West African Resources has begun promisingly.

Goldminer West African Resources post a full-year net profit of $246 million in 2024, spurred on by strong production at its Sanbrado mine in Burkina Faso.

Burkina Faso-focused West African Resources hit the upper end of its 2024 full-year production guidance, following a strong fourth quarter.

West African Resources said it expects mining equipment to be assembled and commissioned at its Kiaka gold operation in Burkina Faso before the end of the year.

Shares In West African Resources began to recover early on Tuesday morning, following a clarification regarding foreign mining companies potentially having their mining permits withdrawn in Burkina Faso.

Shares in West African Resources fell by 20 per cent on Monday to $1.34, off the back of jurisdictional uncertainty in Burkina Faso.

Gold miner West African Resources posted a $92.16 million net profit after tax during the first half of 2024.

Gold miner West African Resources appears on course to reach its annual guidance for 2024, following a solid first half.

West African Resources has announced it will raise $150 million, as it moves towards first production at its Kiaka gold project in Burkina Faso next year.

Shares in West African Resources rose 3 per cent to $1.50 on Friday, following news that the gold miner had drawn down the final $US100 million of its $US265 million secured loan facility.

Shares in Capricorn Metals and West African Resources dipped slightly on Friday, after both companies provided preliminary production updates for the March 2024 quarter.

West African Resources posted a net profit after tax of $164.8 million during the 2023 full year, which was down 10.2 per cent from $183.7 million during the prior corresponding period.

Shares in West African Resources have been sold off today, following its reduced 2024 production guidance and forecasted higher costs.

Subiaco-based West African Resources announced on Friday it had met the upper tier of its full year 2023 production guidance, as construction plans at the company's Kiaka gold project in Burkina Faso continue.

West African Resources has awarded a contract to East Perth engineering services company Lycopodium, over works on its $430 million Kiaka gold project in Burkina Faso.

Subiaco-based West African Resources is raising funds to acquire another gold project in Burkina Faso where construction is expected to start early next year.

West African Resources has acquired a gold deposit located near its existing Sanbrado project in Burkina Faso, with the Subiaco-base company to pay up to $US45 million ($A69 million) in staged payments.

Our daily board moves wrap includes Geraint Harris, Alexander Burns, Kevin Tomlinson, Ray Shorrocks, Justine Campbell, Keith Bakker, David Rich, Peter Torre, Richard Hyde, Lyndon Hopkins, Rodney Leonard, Nigel Spicer, Mark Connelly, Ian Kerr, Luke Holden, Stuart Cruickshanks, and Todd Giltay.

Ausdrill subsidiary African Mining Services has been selected as preferred open-pit mining contractor for West African Resources' Sanbrado gold project in Burkina Faso.

Three local exploration companies have tapped investors for up to $60 million, led by a $48.2 million capital raising from West African Resources for its Sanbrado gold project in Burkina Faso.

West African Resources has awarded a five-year, $152 million underground mining contract to fellow Perth-based miner Byrnecut at its Sanbrado gold project in Burkina Faso.

Lycopodium has secured an engineering contract with Scarborough-based West African Resources for its Sanbrado gold project in Burkina Faso, which has commenced early works.

Scarborough-based West African Resources has tapped investors for $35 million via a capital raising to progress its Sanbrado gold project in Burkina Faso.

Scarborough-based West African Resources has tapped investors for a $21 million capital raising to pay off debt and fund ongoing development of its Tanlouka gold project.

The gold sector has continued to be positive for investors and stockbrokers, with a $12.5 million capital raising announced today by West African Resources adding to more than $150 million worth of deals launched by Western Australian companies this year.

Formerly Perth-based IMX Resources has announced a significant graphite deposit at its Nachingwea property in Tanzania, with a graphitic unit up to 500 metres wide and more than 10 kilometres long.

West African Resources has raised $3 million to fast-track the development of a processing plant and exploration at its Moktedu gold project in Burkina Faso.