CAPITAL MARKETS

Big profit for West African as funding for Kiaka flagged

Highly successful miner won't need to raise any more equity

This article is 2 years old. Images might not display.

Located 45km from West African's flagship Sanbrado operation in Burkina Faso, Kiaka is set to cost US$430 million to build, meaning WAF will probably need the best part of A$600-700 million in total funding.

At the end of December, the company had $173 million, with unhedged production guidance for the current year being 210,000 to 230,000 ounces of gold at an AISC of under US$1175/oz.

Kiaka will take West African's annual production profile past the 400,000oz mark.

Meanwhile, the company's profit in 2022 came on back of 229,224oz of production at AISC of $1086/oz and $184 million in cashflow.

Shares in West African were up 6% to A$1.02 in afternoon trade, capitalising the company at $1.05 billion.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

MiningNews.net Research Report 2025

The MNN Research Report 2025 provides insights into critical mining themes in Australia/Oceania, including top projects, C-suite priorities, risk, ESG performance and investor sentiment.

editions

Mining Journal Intelligence: Investor Sentiment Report 2025

Exclusive insights into the plans, priorities and preferences of 130+ mining investors and top factors influencing investment decisions in 2025.

editions

Mining Journal Intelligence World Risk Report 2024 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 117 jurisdictions globally, assessed across six risk categories and an industrywide survey.

editions

Mining Company ESG Index: Benchmarking the Future of Sustainable Mining

The Mining Company ESG Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.