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COVER: MINER OF THE YEAR

West African beefs up

Burkina base

by Dominic Piper

andemics, security issues and gold price fluctuations; Strong execution at Sanbrado now means more than just
Pyou would suspect West African Resources Ltd had improving the bottom line, it is making WAF’s growth plans
taken shareholders on a wild ride since starting production easier to bring to fruition.
in early 2020, however a brief glimpse at quarterly reports Late last year, the company announced the $US100 million
show the opposite is true. acquisition of the Kiaka project from B2Gold Corp. Hyde said
Since pouring first gold on the day much of the world cashflow from Sanbrado would enable WAF to put together
descended into lockdown, West African (WAF) has barely a superior project financing package for the 7.7 moz project.
missed a beat at its Sanbrado gold mine in Burkina Faso, “Obviously, the more money you make through Sanbrado,
regularly posting production increases and supressing the easier it will be to finance Kiaka,” he said.
cash costs the envy of every gold miner on the ASX. The
In August, WAF released a positive feasibility study for
September quarter saw the company produce 49,396oz @
Kiaka – 45km south of Sanbrado – showing the project could
$US1,197/oz AISC, keeping the company on track to hit
support a 7 mtpa operation producing an average of 219,000
2022 guidance of 220-240,000oz at less than $US1,100/oz
ozpa over 18.5 years.
AISC.
Hyde said WAF would combine a high-quality orebody
For executive chairman Richard Hyde, it is a case of boring
with its experienced development team to deliver a project
being good, as he continues to lead the now two-time GMJ
capable of catapulting it towards the plus-400,000 ozpa
Miner of the Year to success free of disruption.
category.
“Last year was always going to be the best because we had
“We will leverage off our experience in country and the
high-grade open pit and underground mines operating but
technical people we have there,” he said. “We are pretty
this year, everything is still tracking to guidance, and we
confident we can push it to 300,000 ozpa.”
believe we will hit the mid-range of production and the upper
If the project is so good, how did a single-asset producer get
end of cost guidance for 2022,” Hyde told GMJ. “We did see
some increased costs in the quarter – fuel and explosives in its hands on it for just $US100 million?
particular – but we are happy with the performance.” “The reality is Burkina Faso isn’t perfect and if it was, we
Executive chairman Richard Hyde often talks about the close-knit
family at Sanbrado. Here he is with some of the on-site team.

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