{
  "id": 10526248,
  "title": "West African Resources at Mining Forum Americas 2026: cash, dividends and growth",
  "url": "https://urgent.news/2026/09/28/west-african-resources-at-mining-forum-americas-2026-cash-dividends",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-28T20:21:50.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/transcripts/west-african-resources-at-mining-forum-americas-2026-cash-dividends-and-growth-93CH-4921137"
  },
  "original_language": "en",
  "account": "On 28 September 2026, West African Resources (WAF) showcased impressive financial growth during Mining Forum Americas. The mining company reported a substantial half-year profit of AUD 437 million and announced its inaugural dividend of AUD 0.20 per share, totaling AUD 240 million for the period. The company's reserves amounted to AUD 1 billion in cash and bullion as of the June quarter, with its financial outlook projecting a full-year profit of around AUD 1 billion. WAF's production capacity stands at approximately 125,000 ounces per quarter, or around 500,000 ounces annually, with costs maintaining a competitive edge below AUD 1,900 per ounce. The management anticipates Kiaka to evolve into a mid-300,000-ounce-a-year mine once power infrastructure upgrades take effect, while Sanbrado is projected to deliver at least 250,000 ounces per year. Over the past five years, WAF has consistently met or exceeded its quarterly guidance without incurring any penalties. CEO Richard highlighted the company's strong performance and its ability to generate significant cash flow, with a market capitalization valued at about AUD 4.1 billion or roughly $3 billion. The company's cash reserves and bullion stood at AUD 1 billion at the end of the June quarter, equivalent to approximately $777 million. WAF's all-in sustaining costs are expected to remain below AUD 1,900 per ounce. The stock's price-to-earnings ratio currently stands at about 4 times based on full-year guidance, with a longer-term valuation of around 2 times 2029 earnings, according to management's projections. The company's production rate is around 125,000 ounces quarterly, equating to roughly 500,000 ounces annually. Management revealed that first-half production was within the mid to upper range of expectations, and the full-year output is on track to meet the higher end of the forecast. The flagship project, Sanbrado, remains at the heart of WAF's growth strategy. The company anticipates annual production from Sanbrado of about 250,000 ounces for the next decade, with the original mine life extended to around 11 to 12 years, potentially reaching 2042 with the completion of the Toega extension. Recent drilling at M1 South showed exceptional results, extending resources from surface to depths of about 1.2 kilometers. The company is actively drilling at M5 North to expand reserves ahead of a planned pit cutback. The integration of Toega is progressing well, with a haul road in place, mine services buildings completed, and first ore expected in the first quarter of 2025. Sanbrado employs a conventional milling process with high gravity recovery, while Kiaka, commissioned in 2021, has seen resource expansions from 4 million ounces to 9 million ounces, boasting a mine life of 16 years. The primary constraint at Kiaka is the unreliable power grid, which the company has addressed by procuring a 40 megawatt heavy fuel oil power plant and 30 megawatts of diesel capacity, complemented by the existing grid connection. Management expects the power upgrade to be operational by mid-2025, boosting throughput to 12 to 14 million tonnes annually and potentially elevating annual production to the mid-300,000-ounce range. The government of Burkina Faso plans to acquire a 25% stake in WAF after the power upgrade, with the necessary documentation anticipated to be finalized by year-end. The company remains committed to disciplined exploration efforts, running an annual drilling program of over 100,000 meters of reverse circulation and diamond drilling. This strategy focuses on infill drilling to enhance lower-category resources, extend strike length, and deepen exploration, all aimed at bolstering confidence in reserves and extending mine life. CEO Richard emphasized WAF's conservative 10-year production plan, projecting the company's output to peak at nearly 600,000 ounces annually within the next couple of years. The company's strategy focuses on optimizing existing assets rather than pursuing acquisitions, while maintaining full unhedged exposure to gold prices to benefit shareholders fully from market fluctuations.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Investing.com",
        "title": "Hochschild Mining at Mining Forum Americas 2026: growth plan lifts output",
        "url": "https://urgent.news/2026/09/28/hochschild-mining-at-mining-forum-americas-2026-growth-plan-lifts",
        "published": "2026-09-28T16:10:04.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}