Richard Hyde

WEST African Resources’ operational excellence means it can often ignore the noise that comes with operating in Burkina Faso and just get on with it. Executive chair Richard Hyde has probably lost count of how many ‘business as usual’ ASX announcements he’s been forced to issue following political instability in the region. 

Continued strong gold production, paired with higher margins due to a record gold price, saw West African’s shares hit a record high in 2024, while its market capitalisation broke through the A$2bn mark for the first time. The company’s flagship Sanbrado asset, which has met or beaten guidance for 14 consecutive quarters, is a 200,000-ounce-per-annum producer at all-in sustaining costs of less than $1,300/oz. 

West African’s next leg-up will come from the addition this year of its second producing asset, Kiaka, also in Burkina Faso. Australian broker Argonaut recently named Kiaka one of the best undeveloped gold projects sitting in ASX-listed companies. The $447m, fully funded Kiaka operation is expected to produce 234,000oz/yr of gold over 20 years. The addition of Kiaka will boost West African’s production profile to an average of more than 420,000oz/yr from 2024 to 2033, including over 480,000oz/yr from 2026 to 2031. West African sees upside to those figures through the drill bit and plans to continue aggressive exploration across its 1,300km2 landholding in Burkina Faso