West African posts $215m half-year profit

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

In context, the goldminer yielded a full-year net profit of $246 million last calendar year, on the back of producing 206,622oz at its flagship Sanbrado operation in Burkina Faso.

Richard Hyde-led West African produced 95,644 ounces during its first half, with 45,611oz produced during the second quarter. 

Overall, it has set a 190,000-210,000oz target for Sanbrado during CY25 and overall guidance of 290,000-360,000oz, with production at Kiaka taken into account. 

“West African has delivered another outstanding half year result with a profit after tax of $215 million from revenue of $477 million and operating cash flow of $159 million,” he said.

“Our unhedged resources now stand at 12.2 million ounces of gold and ore reserves at 6.5 million ounces of gold.”

West African last traded at $2.90, up 2 per cent as of 2.27pm AWST.