PRECIOUS METALS

WAF passes gold milestones as Sanbrado ramp-up continues

Operation in Burkina Faso going well

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Gold produced went past 50,000oz and all-in sustaining costs fell below US$1000/oz, with the actual numbers being 50,299oz at $992/oz.

Updated life-of-mine production guidance will be provided by the company later this quarter, with WAF's executive chairman and CEO Richard Hyde telling a conference call management were "very happy" with open cut and underground ore reconciliations as mining operations continue to ramp up and optimise.

WAF had A$95 million cash on hand at the end of December after $54 million in cash was generated from operating activities during the quarter.

Notional net debt decreased by US$23 million to $101 million, with repayment of the Taurus facility a key focus for the miner in 2021.

Shares in WAF were down 5% to A92.7c in midday trade, capitalising the company at $815 million. 

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