West African Resources (WAF.AX) has released a production update on its Sanbrado gold mine in Burkina Faso earlier this month.
The company produced just under 56,600 ounces of gold and sold just over 49,500 ounces at an average sales price of US$2,078 per ounce. During the first quarter of this year, we saw the amount of ounces sourced from the open pit decrease while the contribution from the underground mine increased (this was/is all part of the mine plan). This resulted in an average head grade of 2.2 g/t gold and a recovery rate of just under 94% as the average grade from the underground mine reconciled well with the modelled grade.
West African Resources confirmed its full-year guidance to produce 190,000-210,000 ounces of gold at an all-in sustaining cost of less than US$1,300 per ounce.
Disclosure: The author has no position in West African Resources. Please read the disclaimer.
