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West African Resources Ltd
(Sydney:WAF)
West African Resources Ltd (WAF) vs. iShares MSCI Australia ETF (EWA)
West African Resources Ltd Business Overview & Revenue Model
West African Resources Ltd Earnings Call Summary
West African Resources Ltd Financial Statement Overview
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 724.37M | 658.82M | 606.13M | 711.54M | 310.31M | Gross Profit |
| 421.81M | 354.73M | 340.45M | 461.97M | 189.15M | EBIT |
| 324.22M | 236.42M | 259.67M | 380.28M | 167.51M | EBITDA |
| 421.01M | 329.81M | 319.37M | 437.83M | 191.69M | Net Income Common Stockholders |
| 223.84M | 146.87M | 164.44M | 188.96M | 89.36M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 391.67M | 135.08M | 173.39M | 183.41M | 95.07M | Total Assets |
| 1.97B | 1.22B | 878.71M | 804.25M | 530.71M | Total Debt |
| 425.97M | 149.15M | 22.18M | 25.80M | 242.14M | Net Debt |
| 34.30M | 14.07M | -151.21M | -157.57M | 147.11M | Total Liabilities |
| 660.42M | 315.01M | 138.14M | 249.84M | 358.45M | Stockholders Equity |
| 1.25B | 861.20M | 700.50M | 525.05M | 165.23M |
| Cash Flow | Free Cash Flow | |||
| -235.71M | -21.14M | 108.92M | 294.40M | 38.47M | Operating Cash Flow |
| 251.64M | 207.19M | 223.80M | 349.66M | 147.92M | Investing Cash Flow |
| -489.34M | -228.34M | -180.79M | -107.96M | -116.90M | Financing Cash Flow |
| 512.72M | -23.18M | -15.71M | -154.56M | -21.11M |
West African Resources Ltd Technical Analysis
West African Resources Ltd Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | $2.62B | 11.20 | 21.73% | ― | 9.95% | 44.59% | |
51 Neutral | $2.01B | -1.26 | -21.11% | 4.38% | 2.92% | -30.46% | |
| $2.37B | 28.31 | 13.42% | 0.77% | ― | ― | ||
| $2.01B | 21.31 | 18.72% | ― | ― | ― | ||
| $2.04B | 9.49 | 26.42% | 1.05% | ― | ― | ||
| $1.87B | 38.12 | 1.93% | 0.74% | ― | ― | ||
60 Neutral | AU$2.89B | 55.92 | 7.58% | ― | 85.82% | -47.59% |
West African Resources Ltd Corporate Events
West African Resources Limited has announced its decision to align with the 2024 Burkina Faso Mining Code by increasing the State’s free-carried equity interest in its mining projects from 10% to 15%. This change follows discussions with various stakeholders and does not affect the company’s 2025 gold production guidance or the construction schedule of the Kiaka project, which remains on track.
The most recent analyst rating on (AU:WAF) stock is a Buy with a A$2.00 price target. To see the full list of analyst forecasts on West African Resources Ltd stock, see the AU:WAF Stock Forecast page.
West African Resources Limited announced a change in the director’s interest, with Jayde Webb acquiring 10,556 performance rights in lieu of non-executive director’s fees. This move, approved by shareholders at the 2025 AGM, reflects the company’s strategy to align director incentives with long-term company performance, potentially impacting its governance and stakeholder confidence.
The most recent analyst rating on (AU:WAF) stock is a Buy with a A$2.00 price target. To see the full list of analyst forecasts on West African Resources Ltd stock, see the AU:WAF Stock Forecast page.
Mitsubishi UFJ Financial Group, Inc. has ceased to be a substantial holder in West African Resources Ltd. This change reflects a series of transactions involving the purchase of securities by an entity controlled by Morgan Stanley, affecting a significant number of fully paid ordinary shares. The implications of this shift may influence the company’s shareholder structure and market perception.
The most recent analyst rating on (AU:WAF) stock is a Buy with a A$2.00 price target. To see the full list of analyst forecasts on West African Resources Ltd stock, see the AU:WAF Stock Forecast page.
West African Resources Ltd has announced a change in its substantial holders, indicating that Mitsubishi UFJ Financial Group and First Sentier Investors have ceased to be substantial holders as of May 28, 2025. This change may impact the company’s shareholder structure and could influence its market positioning and stakeholder relationships.
The most recent analyst rating on (AU:WAF) stock is a Buy with a A$2.00 price target. To see the full list of analyst forecasts on West African Resources Ltd stock, see the AU:WAF Stock Forecast page.
Mitsubishi UFJ Financial Group, Inc. has become a substantial holder in West African Resources Limited, with a voting power of 5.78% through its relevant interest in securities held by Morgan Stanley and First Sentier Investors Holdings Pty Limited. This development signifies a significant investment move by Mitsubishi UFJ Financial Group, potentially impacting the company’s influence in West African Resources Limited and indicating strategic positioning in the market.
The most recent analyst rating on (AU:WAF) stock is a Buy with a A$2.00 price target. To see the full list of analyst forecasts on West African Resources Ltd stock, see the AU:WAF Stock Forecast page.
West African Resources Ltd has announced a significant change in its substantial holders, with State Street Bank and Trust Company and its subsidiaries becoming a major stakeholder. This development indicates a shift in the company’s shareholder structure, potentially impacting its governance and strategic decision-making processes.
The most recent analyst rating on (AU:WAF) stock is a Buy with a A$2.00 price target. To see the full list of analyst forecasts on West African Resources Ltd stock, see the AU:WAF Stock Forecast page.
West African Resources Ltd has announced that Mitsubishi UFJ Financial Group, through its subsidiary First Sentier Investors Holdings Pty Limited, has acquired a substantial holding in the company. This acquisition gives Mitsubishi UFJ Financial Group a significant voting power in West African Resources Ltd, potentially impacting the company’s strategic decisions and market positioning.
The most recent analyst rating on (AU:WAF) stock is a Buy with a A$2.00 price target. To see the full list of analyst forecasts on West African Resources Ltd stock, see the AU:WAF Stock Forecast page.
West African Resources Ltd has announced a change in substantial holdings, with State Street Corporation and its subsidiaries ceasing to be substantial holders as of May 23, 2025. This change in holdings may affect the company’s voting securities and potentially alter its market dynamics, reflecting shifts in stakeholder interests and corporate governance.
The most recent analyst rating on (AU:WAF) stock is a Buy with a A$2.00 price target. To see the full list of analyst forecasts on West African Resources Ltd stock, see the AU:WAF Stock Forecast page.
Mitsubishi UFJ Financial Group, Inc. has ceased to be a substantial holder in West African Resources Limited as of May 23, 2025. This change was due to the purchase of securities by an entity controlled by Morgan Stanley, affecting a significant number of fully paid ordinary shares and votes, which may impact the company’s shareholder structure and influence.
The most recent analyst rating on (AU:WAF) stock is a Buy with a A$2.00 price target. To see the full list of analyst forecasts on West African Resources Ltd stock, see the AU:WAF Stock Forecast page.
Mitsubishi UFJ Financial Group, Inc. has become a substantial holder in West African Resources Limited, acquiring a significant voting power through its interests in Morgan Stanley and First Sentier Investors Holdings Pty Limited. This acquisition gives Mitsubishi UFJ Financial Group, Inc. a voting power of 5.21% in West African Resources Limited, potentially impacting the company’s governance and strategic decisions.
The most recent analyst rating on (AU:WAF) stock is a Buy with a A$2.00 price target. To see the full list of analyst forecasts on West African Resources Ltd stock, see the AU:WAF Stock Forecast page.
West African Resources Ltd has announced that First Sentier Investors Holdings Pty Limited and its related bodies have ceased to be substantial holders in the company as of May 21, 2025. This change in substantial holding may impact the company’s shareholder structure and influence its market dynamics, potentially affecting investor perceptions and stakeholder interests.
The most recent analyst rating on (AU:WAF) stock is a Buy with a A$2.00 price target. To see the full list of analyst forecasts on West African Resources Ltd stock, see the AU:WAF Stock Forecast page.
West African Resources Ltd has announced that Mitsubishi UFJ Financial Group (MUFG) has acquired a substantial holding in the company through its subsidiary, First Sentier Investors Holdings Pty Limited. This acquisition grants MUFG significant voting power and control over the exercise of rights attached to the securities, marking a notable shift in the company’s shareholder structure. The involvement of a major financial entity like MUFG could potentially enhance West African Resources Ltd’s market positioning and investor confidence, given MUFG’s global financial influence.
The most recent analyst rating on (AU:WAF) stock is a Buy with a A$2.00 price target. To see the full list of analyst forecasts on West African Resources Ltd stock, see the AU:WAF Stock Forecast page.
West African Resources Limited has announced significant high-grade gold mineralization results from its recent diamond drilling at the M1 South Main Deeps Resource within the Sanbrado Gold Operations in Burkina Faso. The results, which include impressive gold grades and widths, are expected to enhance the company’s Mineral Resource Estimate and Ore Reserves, with an updated report and a new 10-year production outlook anticipated in Q3 2025. These developments, along with the nearing completion of the Kiaka build, position the company to operate two long-life, low-cost gold production centers by 2025, supporting its strategic growth objectives.
The most recent analyst rating on (AU:WAF) stock is a Buy with a A$2.00 price target. To see the full list of analyst forecasts on West African Resources Ltd stock, see the AU:WAF Stock Forecast page.
Mitsubishi UFJ Financial Group, Inc. has ceased to be a substantial holder in West African Resources Limited as of May 19, 2025. The change in substantial holding was due to the purchase of securities by an entity controlled by Morgan Stanley, affecting a significant number of fully paid ordinary shares. This development may impact the company’s shareholder structure and influence its market dynamics.
The most recent analyst rating on (AU:WAF) stock is a Buy with a A$2.00 price target. To see the full list of analyst forecasts on West African Resources Ltd stock, see the AU:WAF Stock Forecast page.
West African Resources Ltd announced that First Sentier Investors Holdings Pty Limited and its related entities have ceased to be substantial holders in the company as of May 15, 2025. This change in substantial holding could impact the company’s shareholder structure and influence its market dynamics, potentially affecting investor confidence and future strategic decisions.
The most recent analyst rating on (AU:WAF) stock is a Buy with a A$2.00 price target. To see the full list of analyst forecasts on West African Resources Ltd stock, see the AU:WAF Stock Forecast page.
Mitsubishi UFJ Financial Group, Inc. has become a substantial holder in West African Resources Limited, acquiring a significant voting power of 5.74% through its relevant interest in securities held by Morgan Stanley and First Sentier Investors Holdings Pty Limited. This development indicates a strategic investment move by Mitsubishi UFJ Financial Group, potentially influencing West African Resources’ future decisions and impacting its market dynamics.
The most recent analyst rating on (AU:WAF) stock is a Buy with a A$2.00 price target. To see the full list of analyst forecasts on West African Resources Ltd stock, see the AU:WAF Stock Forecast page.
West African Resources Ltd has announced a significant change in its shareholder structure. Mitsubishi UFJ Financial Group has acquired a substantial interest in the company through its subsidiary, First Sentier Investors Holdings Pty Limited. This acquisition grants Mitsubishi UFJ Financial Group voting power over a large number of shares, potentially influencing the company’s future decisions and strategic direction.
The most recent analyst rating on (AU:WAF) stock is a Buy with a A$2.00 price target. To see the full list of analyst forecasts on West African Resources Ltd stock, see the AU:WAF Stock Forecast page.
West African Resources Ltd announced the issuance of 83,947 ordinary fully paid securities, which will be quoted on the Australian Securities Exchange (ASX) as of May 14, 2025. This move is part of the company’s strategy to enhance its capital structure and potentially improve its market positioning, providing stakeholders with increased opportunities for investment and growth.
The most recent analyst rating on (AU:WAF) stock is a Buy with a A$2.00 price target. To see the full list of analyst forecasts on West African Resources Ltd stock, see the AU:WAF Stock Forecast page.
West African Resources Limited announced a change in the interests of its director, Rodney L Leonard, involving the acquisition of 46,637 ordinary shares through the exercise of performance rights. This change increases Leonard’s indirect holdings to 306,661 ordinary shares, reflecting the company’s ongoing commitment to aligning director interests with shareholder value.
The most recent analyst rating on (AU:WAF) stock is a Buy with a A$2.00 price target. To see the full list of analyst forecasts on West African Resources Ltd stock, see the AU:WAF Stock Forecast page.
West African Resources Limited has announced significant progress in the development of its Kiaka Gold Project in Burkina Faso, with key milestones achieved in mining and construction activities. The company has completed the construction of the ROM pad, the crushing circuit, and the wet plant, with mining operations ramping up and first gold production on track for Q3 2025. This development positions West African Resources to significantly increase its annual gold production, enhancing its industry standing and offering potential benefits to stakeholders.
The most recent analyst rating on (AU:WAF) stock is a Buy with a A$2.00 price target. To see the full list of analyst forecasts on West African Resources Ltd stock, see the AU:WAF Stock Forecast page.
West African Resources Limited announced a change in the director’s interest notice, specifically concerning Richard Hyde. The notice details the acquisition of 996,816 performance rights without any disposals, indicating a significant increase in Hyde’s holdings. This change reflects the company’s ongoing commitment to aligning executive interests with performance metrics, potentially impacting its operational strategies and stakeholder relations.
West African Resources Ltd has announced the appointment of Jayde Webb as a new director, effective May 9, 2025. This appointment is part of the company’s strategic efforts to strengthen its leadership team, although Jayde Webb currently holds no securities or interests in the company, indicating a fresh perspective in the boardroom.
West African Resources Limited has announced the issuance of 1,978,527 performance rights under an employee incentive scheme, which are not intended to be quoted on the ASX. This move is part of the company’s strategy to incentivize and retain key personnel, potentially impacting its operational efficiency and market positioning positively.
West African Resources Ltd held its 2025 Annual General Meeting on May 9, where all resolutions were passed except for the non-binding resolution to adopt the 2024 remuneration report, which faced significant opposition. This outcome marks a first strike under the Corporations Act 2001, potentially impacting future governance and shareholder relations.
West African Resources Ltd held its Annual General Meeting on May 9, 2025, where it discussed its strategic goals and financial performance. The company aims to become a sustainable producer of over 500,000 ounces of gold annually within five years, reflecting its growth ambitions in the mining sector.
West African Resources Ltd has announced that a substantial holder has acquired a significant voting interest in the company. This acquisition involves various financial institutions, including State Street Bank and Trust Company, which now hold a considerable number of ordinary shares, indicating a strategic positioning in the company’s voting power. The implications of this acquisition could potentially influence the company’s decision-making processes and impact its market dynamics.
Mitsubishi UFJ Financial Group, Inc. has ceased to be a substantial holder in West African Resources Ltd as of April 28, 2025. This change occurred due to the sale of securities by an entity controlled by First Sentier Investors Holdings Pty Ltd and the purchase of securities by an entity controlled by Morgan Stanley. This shift in substantial holding could impact the company’s shareholder dynamics and influence its market positioning.
West African Resources Ltd has announced that First Sentier Investors has ceased to be a substantial holder in the company as of April 28, 2025. This change in substantial holding could impact the company’s shareholder structure and influence its market dynamics, potentially affecting investor sentiment and future strategic decisions.
West African Resources Ltd has announced that Mitsubishi UFJ Financial Group, Inc. has become a substantial holder in the company, with a relevant interest in 67,465,781 fully paid ordinary shares, representing a 5.92% voting power. This development indicates a significant investment by Mitsubishi UFJ Financial Group, Inc., potentially impacting the company’s market position and stakeholder interests by increasing its influence in corporate decisions.
West African Resources Ltd has announced that Mitsubishi UFJ Financial Group, Inc. has ceased to be a substantial holder in the company. This change in substantial holding is a result of various transactions involving the purchase and sale of securities by entities controlled by First Sentier Investors Holdings Pty Ltd and Morgan Stanley, reflecting a shift in the company’s shareholder structure.
West African Resources Ltd has announced a significant change in its substantial holdings, with First Sentier Investors Holdings Pty Limited and its subsidiaries now holding a notable voting power in the company. This development indicates a shift in the control dynamics of the company, potentially impacting its strategic decisions and market positioning.
West African Resources Limited announced a correction to their Quarterly Activities Report, clarifying that the unsold gold bullion at the end of Q1 was valued at US$43 million, not A$43 million as previously stated. This amendment highlights the company’s significant gold reserves, potentially impacting market perceptions and stakeholder interests.
West African Resources Ltd reported a net cash inflow from operating activities of $73,016,000 for the current quarter, indicating strong operational performance. However, the company experienced a net cash outflow in investing activities amounting to $122,668,000, primarily due to significant expenditures on property, plant, and equipment. The overall cash position decreased, reflecting the company’s ongoing investment in its operational infrastructure, which may impact its short-term liquidity but could enhance long-term production capabilities.
West African Resources Limited reported a strong Q1 2025 performance with 50,033 ounces of gold produced at an all-in sustaining cost of US$1,262 per ounce, and unhedged gold sales of 48,338 ounces at an average price of US$2,832 per ounce. The company is progressing well with the Kiaka project, maintaining its schedule and budget, and aims to ramp up mining in Q2 2025. The Toega project also shows promising potential with a maiden underground mineral resource estimate. The company is on track to meet its 2025 production guidance, and the transition to owner-mining is expected to enhance operational efficiency.
West African Resources Ltd has announced the quotation of 14,704 new ordinary fully paid securities on the Australian Securities Exchange (ASX), following the exercise of options or conversion of convertible securities. This move is likely to enhance the company’s capital structure and potentially improve its market position, providing additional resources for its operations in the competitive mining sector.
West African Resources Ltd has released its 2024 Sustainability Report, outlining its commitment to sustainable practices and community engagement. The report highlights the company’s efforts in managing environmental impact, supporting local economies, and ensuring the health and safety of its workforce, which are crucial for maintaining its industry position and fostering positive relationships with stakeholders.
West African Resources Limited reported a solid start to 2025 with its Sanbrado Gold Operations producing 50,033 ounces of gold in the first quarter. The company sold 48,338 ounces at an average price of US$2,832 per ounce and is on track to meet its annual production guidance of 190,000 to 210,000 ounces. The increase in underground mined ounces and the steady performance of the Sanbrado process plant highlight the company’s strong operational capabilities, positioning it well within the industry.
West African Resources Ltd has reported a change in the substantial holding of L1 Capital Pty Ltd in its voting securities. The voting power of L1 Capital has decreased from 10.04% to 9.03%, reflecting a change in the number of shares held. This adjustment in holdings could influence the company’s shareholder dynamics and potentially impact its strategic decisions moving forward.
West African Resources Ltd has announced its Annual General Meeting (AGM) for shareholders, scheduled to be held on May 9, 2025, at the Nedlands Yacht Club in Western Australia. The company encourages shareholders to participate either in person or by proxy, with proxy voting available online. This meeting is a significant event for stakeholders as it provides an opportunity to engage with the company’s management and discuss future strategies.
West African Resources Limited has announced its Annual General Meeting (AGM) scheduled for May 9, 2025, at the Nedlands Yacht Club in Western Australia. The meeting will cover the financial report for the year ending December 31, 2024, and include a non-binding resolution to adopt the remuneration report. Shareholders are encouraged to participate, with specific instructions provided for proxy voting. The announcement underscores the company’s commitment to transparency and shareholder engagement, which could impact its governance and stakeholder relations.
Mitsubishi UFJ Financial Group, Inc. has become a substantial holder in West African Resources Ltd, acquiring a significant voting power of 6.39% through various fully paid ordinary shares. This development indicates a strategic move by Mitsubishi UFJ Financial Group to strengthen its influence and presence in the company, potentially impacting West African Resources Ltd’s market dynamics and stakeholder interests.
West African Resources Ltd has announced that Mitsubishi UFJ Financial Group (MUFG) has acquired a substantial holding in the company through its subsidiary, First Sentier Investors Holdings Pty Limited. This acquisition grants MUFG significant voting power and a relevant interest in the shares of West African Resources, potentially impacting the company’s governance and strategic direction.
West African Resources Ltd has announced the application for the quotation of 14,704 ordinary fully paid securities on the Australian Securities Exchange (ASX), effective March 28, 2025. This move signifies the company’s strategic efforts to enhance its market presence and potentially increase its capital base, which could have implications for its operational capacity and stakeholder value.
Mitsubishi UFJ Financial Group, Inc. has ceased to be a substantial holder in West African Resources Ltd. The change in their substantial holding status was due to a series of transactions involving the sale and purchase of securities, primarily controlled by Morgan Stanley, which affected the voting securities of the company. This development may impact the company’s shareholder structure and influence its market dynamics.
West African Resources Ltd has announced a change in substantial holding, with State Street Corporation and its subsidiaries ceasing to be substantial holders as of March 24, 2025. This change in holding could impact the company’s voting securities and potentially alter its market dynamics, affecting stakeholders and the company’s strategic direction.
West African Resources Limited announced the retirement of Non-executive Director Nigel Spicer at the upcoming Annual General Meeting, with Jayde Webb nominated to fill his position. Webb’s extensive experience in the mining sector is expected to enhance the board’s composition, providing a majority of independent directors, which could positively impact the company’s strategic direction and stakeholder confidence.
West African Resources Ltd has announced a significant change in its shareholder structure, with State Street Corporation and its subsidiaries becoming substantial holders as of March 21, 2025. This development indicates a notable shift in voting power and could impact the company’s strategic decisions, potentially influencing its market positioning and stakeholder relations.
West African Resources Ltd announced the issuance of unquoted equity securities in the form of performance rights under an employee incentive scheme. This issuance involves a total of 1,847,907 performance rights, which are not intended to be quoted on the ASX. The move is part of the company’s strategy to incentivize and retain its employees, potentially enhancing operational performance and aligning employee interests with shareholder value.