Australia-listed West African Resources produced 107 728 oz of gold at its Sanbrado and Kiaka mines, in Burkina Faso, in the quarter ended March 31.
Gold sales for the quarter were 104 145 oz at a realised price of $4 945/oz.
“With quarterly production of 107 728 oz gold from our two large, low-cost gold production centres of Sanbrado and Kiaka, in Burkina Faso, West African is well on track to achieve annual production guidance of 430 000 oz to 490 000 oz of gold,” says chairperson and CEO Richard Hyde.
The company notes that it continues to engage in confidential discussions with the government of Burkina Faso regarding the State’s expressed interest in acquiring, for paid consideration, an additional equity interest in Kiaka SA (KSA), which holds 100% of the Kiaka mine.
West African currently holds an 85% equity ownership interest in KSA and the State holds 15%. The State is being represented in these collaborative discussions by State-owned company Société de Participation Minière du Burkina Faso.