West African Resources

This month members of West African’s Board, including Executive Chairman and CEO Richard Hyde and Executive Director – Human Resources Libby Mounsey, travelled to our Sanbrado Gold Operations and Kiaka Gold Project in Burkina Faso, West Africa. Sanbrado recently delivered another solid quarter of gold production for the June quarter, with our M1 South underground mine producing over 34,000 ounces at 8.7 g/t gold. H1 production was 107,644 ounces of gold, which sees WAF tracking towards the top end of production guidance for 2024. At Kiaka, construction continues to make excellent progress, as we move closer to first gold at the project in mid-2025. Richard is pictured with General Manager – Sanbrado Luke Holden and Construction Manager – Kiaka Xander Eicker, alongside recently delivered equipment including ball mill shells, mill liners, gyroscopic crusher pieces and SAG mill shells and gears. It was fantastic to connect with the teams on site, who are doing a phenomenal job, and to see both projects continuing to track well against stated goals.

Coverage of West African in MiningNews.net, following our production update released this week 📰

Latest drone flyover from our Sanbrado Gold Operations in Burkina Faso, July 2024 📹 Some highlights from our production update released this week: ✅ Q2 gold production: 51,049 oz ✅ Q2 gold sales: 52,445 oz at an average price of US$2,314/oz ✅ H1 2024 gold production: 107,644 oz ✅ H1 2024 gold sales: 101,954 oz at an average price of US$2,199/oz ✅ 2024 gold production tracking towards higher end of production guidance We look forward to providing our full quarterly activities report in the coming weeks.

We're pleased to provide a production update from our Sanbrado Gold Operations for the June quarter 2024 (Q2). Our Executive Chairman and CEO Richard Hyde commented: “Sanbrado delivered another solid quarter of gold production, with our M1 South underground mine producing over 34,000 ounces at 8.7 g/t gold. Production for H1 was 107,644 ounces of gold which sees WAF tracking towards the top end of production guidance for 2024. We look forward to providing our full quarterly activities report in the coming weeks.” Read the full announcement here: https://loom.ly/QkSwaq0

West African to raise A$150m | Coverage via Business News WA:

Via Small Caps — West African delivers feasibility upgrade for Kiaka Gold Project in Burkina Faso:

WAF outlines decades of African gold production | Coverage via Mining Journal:

Via MiningNews.net — WAF raises $150m for Kiaka mining fleet:

Investor Presentation — July 2024:

We have received firm commitments from institutional and sophisticated investors for a placement of ~109.5 million new fully paid ordinary shares at an issue price of A$1.37 per share to raise ~A$150m (before costs). There was strong support from both domestic and offshore institutions for the Placement. Our Executive Chairman and CEO Richard Hyde commented: “West African continues to make significant progress towards development of the Kiaka Gold Project with development 50% complete and 75% of capital costs fixed. "Proceeds from the placement are expected to provide West African with proforma cash at bank and unsold bullion proceeds of A$604m, positioning West African to continue to rapidly progress the development of the Kiaka Gold Project. West African is currently on schedule to be a +420,000 ozpa gold producer from 2025.” Read the full ASX release here: https://loom.ly/yCRc_wM