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reason the system won’t keep going,”
Hyde said at Africa Down Under. “We will So, we poured first gold, went and had a few
be mining here for 10 years to match un- celebratory drinks and by that night we were flying
derground with open pits.”
WAF is building optionality into its quest out of Ouagadougou on our way to Brussels. By the time
to fill the back end of the mine life. In April, “ we got to Brussels, the pandemic was very real.
WAF paid B2Gold Corp $US45 million
for the 1.1 moz gold Toega project. At just
14km from Sanbrado, Toega is a natural deals – including Endeavour Mining Corp’s eralised at 300m, 500m, 900m it will be a
bolt-on for the operation. recent acquisitions of Semafo ($US1 bil- mine for more than a decade.
“That distance is easily truck-able in lion) and Teranga Mining ($US1.86 billion) “There are very few companies like that
Burkina Faso and we expect a low capex – WAF’s position as an unhedged producer which have not already been acquired. And
to bring Toega into production,” he said. could prove attractive to other players. there are less projects around. The battle
“As well as the main deposit there are a “Endeavour’s move for Teranga does for Cardinal [Resources Ltd, a fellow ASX-
few other targets that we hadn’t thought a mean there is one less operator in Burkina listed company in West Africa] points to that
lot about when we acquired the project. We Faso and West Africa more widely,” Hyde and I think it is good for the industry.”
are working on a feasibility study now and said. “We are one of the only single asset Having missed out during the develop-
are hopeful of getting that in the production company with potential to produce more ment period, Hyde would not be drawn on
profile within three years to meet that drop than 200,000 ozpa gold over a 10-year whether the company was ready to do a
off in the schedule. We will start drilling that mine life. deal.
before the end of the year.” “I think a few of the bigger companies “We are always in discussions with other
The purchase of Toega was WAF’s first wanted to see some proof-of-concept companies, but we are not really focused
foray into corporate activity since it acquired stuff around the underground before they on that,” he said. “Our focus has to be on
Sanbrado. However, with M&A activity in showed their hand. But, as a geologist, you getting value out of our existing asset and
the region heightened by several recent know that if you drill something and it is min- getting more out of the exploration.

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