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West African Resources Ltd

www: www.westafricanresources.com   email: info@westafricanresources.com
Category: Mid-tier Producer
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Symbol Data

Symbol Currency
OTCMKTS:WFRSF USD
ASX:WAF AUD

Description

West African Resources Ltd are a gold focused mid-tier producer with two mines in development in Burkina Faso and two exploration properties. They have approximately 12Moz. of gold in the reserves and resources category of which 8Moz. are in the measured and indicated category. They have a market capitalisation of ~A$935.97M which is a rise of roughly 0% over the last five months. As of 01/09/2022 they have ~A$32M debt and ~A$72.13M cash. They have 1,021M shares outstanding and trade on the Australian Stock Exchange and the over-the-counter markets.

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General Details

Financial 01/09/2022
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
Mkt. Cap (FD): $933.06M $935.97M 01/09/2022 $2.90M
Total Assets: $358.21M $357.06M 01/09/2022 $-1.15M
Total Liabilities: $128.96M $128.54M 01/09/2022 $-0.41M
Current Assets: $107.46M $107.12M 01/09/2022 $-0.34M
Current Liabilities: $93.14M $92.84M 01/09/2022 $-0.30M
Total Debt: $32.24M $32.14M 01/09/2022 $-0.10M
Cash: $72.36M $72.13M 01/09/2022 $-0.23M
Enterprise Value: $892.94M $895.98M 05/23/1998 $3.03M
Cash Flow: $136.57M $147.71M never $11.13M
Cash Flow Multiple: 6.83 6.34 never -0.50
Net Debt to
Cash Flow Ratio:		 n/a n/a never 0.00
Finance within 1 year: 01/09/2022 n/a
Tax Rate: (guess)  30.00% (default)  30.00% 01/09/2022 0.00%
Misc 01/09/2022
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
Shares Outstanding: 1,021,000,000 1,021,000,000 01/09/2022 0
Shares (FD): 1,032,000,000 1,032,000,000 01/09/2022 0
Insider Ownership: n/a n/a never n/a
Company Type: Mostly Gold Mostly Gold never n/a
Production ETA: n/a 01/01/2020 01/09/2022 n/a
Production (Gold Eq Oz.): (guess) 
280,000		 (guess) 
280,000		 01/09/2022 0
Production (Silver Eq Oz.): (guess) 
22,520,322		 (guess) 
23,463,291		 01/09/2022 942,969
Initial CapEx (Outstanding): n/a n/a 01/09/2022 n/a
Funding Option: n/a n/a 01/09/2022 n/a
Documentation: none PRODUCER 01/09/2022 n/a
Value Adjustment: 10% 10% never 0%

Resource Data

GOLD 01/09/2022
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: 4.00M 4.00M 01/09/2022 0.00M
Measured & Indicated: 8.00M 8.00M 01/09/2022 0.00M
Inferred: 4.00M 4.00M 01/09/2022 0.00M
Reserves & Resources: 12.00M 12.00M never 0.00M
P
L
A
U
S
I
B
L
E		 Proven & Probable: 3.60M 3.60M 01/09/2022 0.00M
Measured & Indicated: 6.48M 6.48M 01/09/2022 0.00M
Inferred: 1.80M 1.80M 01/09/2022 0.00M
Reserves & Resources: 8.28M 8.28M never 0.00M
C
U
R
R
E
N
T		 Annual Production: (guess) 
280,000oz.		 (guess) 
280,000oz.		 01/09/2022 0oz.
Cash Cost: $700 $700 01/09/2022 $0.00
Extra Operating Cost: $400 $400 01/09/2022 $0.00
Average Grade: 1.20 g/t 1.20 g/t 01/09/2022 n/a
Recovery Rate: (CG)  90.00% (CG)  90.00% 01/09/2022 0.00%
F
U
T
U
R
E		 Proven & Probable: 8.00M 8.00M 01/09/2022 0.00M
Annual Production: 400,000oz. 400,000oz. 01/09/2022 0oz.
Cash Cost: $750 $750 01/09/2022 $0
Extra Operating Cost: $400 $400 01/09/2022 $0
SILVER 01/09/2022
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: n/a n/a 01/09/2022 0.00M
Measured & Indicated: n/a n/a 01/09/2022 0.00M
Inferred: n/a n/a 01/09/2022 0.00M
Reserves & Resources: n/a n/a never 0.00M
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 01/09/2022 0.00M
Measured & Indicated: n/a n/a 01/09/2022 0.00M
Inferred: n/a n/a 01/09/2022 0.00M
Reserves & Resources: n/a n/a never 0.00M
C
U
R
R
E
N
T		 Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 01/09/2022 $0.00
Extra Operating Cost: n/a n/a 01/09/2022 $0.00
Average Grade: n/a n/a 01/09/2022 n/a
Recovery Rate: n/a n/a 01/09/2022 0.00%
F
U
T
U
R
E		 Proven & Probable: n/a n/a 01/09/2022 0.00M
Annual Production: n/a n/a 01/09/2022 n/a
Cash Cost: n/a n/a 01/09/2022 n/a
Extra Operating Cost: n/a n/a 01/09/2022 n/a

Property

Last Analysis Data  (01/09/2022)
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Development West Africa, Burkina Faso Sanbrado 100% (guess) 60,000 Open Pit show
3 million oz open pit

Producing 200,000 annually.
Development West Africa, Burkina Faso Toega 100% (guess) 25,000 Open Pit show
1 million oz surface deposit at 2.1 gpt.

Feasibility in 2021.

Next mine.
Exploration West Africa, Burkina Faso Kiaka 90% (guess) n/a n/a show
6 million oz resource.
Development in 2023-24
Exploration Fox Creek, Canada Fox Creek 100% n/a n/a n/a
Total Land Package Size (ha): 85,000  
Current Data
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Development West Africa, Burkina Faso Sanbrado 100% (guess) 60,000 Open Pit show
3 million oz open pit

Producing 200,000 annually.
Development West Africa, Burkina Faso Toega 100% (guess) 25,000 Open Pit show
1 million oz surface deposit at 2.1 gpt.

Feasibility in 2021.

Next mine.
Exploration West Africa, Burkina Faso Kiaka 90% (guess) n/a n/a show
6 million oz resource.
Development in 2023-24
Exploration Fox Creek, Canada Fox Creek 100% n/a n/a n/a
Total Land Package Size (ha): 85,000  

Profitability (by resource)

Proven &
Probable		 01/09/2022
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 4.00M 4.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 13.47M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 3.60M 3.60M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 12.12M
Maximum Profit (Gold): $1,931.53M $2,088.98M n/a $157.45M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $1,931.53M $2,088.98M n/a $157.45M
Max Profit / Current MCap: 2.070 2.232 n/a 0.162
Max Profit Per Share (Gold): $1.87 $2.02 n/a $0.15
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $1.87 $2.02 n/a $0.15
Total Free Profit Per Share: $0.61 $0.75 n/a $0.14
FD Mkt. Cap / Gold Eq.: $259.18 $259.99 n/a $0.81
FD Mkt. Cap / Silver Eq.: $3.22 $3.10 n/a $-0.12
FD Mkt. Cap / Per Metal
as % Spot Price:		 14.42% 14.03% n/a -0.40%
Measured &
Indicated		 01/09/2022
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 8.00M 8.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 26.94M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 6.48M 6.48M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 21.82M
Maximum Profit (Gold): $3,476.75M $3,760.16M n/a $283.41M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $3,476.75M $3,760.16M n/a $283.41M
Max Profit / Current MCap: 3.726 4.017 n/a 0.291
Max Profit Per Share (Gold): $3.37 $3.64 n/a $0.27
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $3.37 $3.64 n/a $0.27
Total Free Profit Per Share: $2.11 $2.37 n/a $0.27
FD Mkt. Cap / Gold Eq.: $143.99 $144.44 n/a $0.45
FD Mkt. Cap / Silver Eq.: $1.79 $1.72 n/a $-0.07
FD Mkt. Cap / Per Metal
as % Spot Price:		 8.01% 7.79% n/a -0.22%

Reserves &
Resources		 01/09/2022
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 12.00M 12.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 40.41M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 8.28M 8.28M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 27.88M
Maximum Profit (Gold): $4,442.52M $4,804.65M n/a $362.13M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $4,442.52M $4,804.65M n/a $362.13M
Max Profit / Current MCap: 4.761 5.133 n/a 0.372
Max Profit Per Share (Gold): $4.30 $4.66 n/a $0.35
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $4.30 $4.66 n/a $0.35
Total Free Profit Per Share: $3.04 $3.39 n/a $0.34
FD Mkt. Cap / Gold Eq.: $112.69 $113.04 n/a $0.35
FD Mkt. Cap / Silver Eq.: $1.40 $1.35 n/a $-0.05
FD Mkt. Cap / Per Metal
as % Spot Price:		 6.27% 6.10% n/a -0.17%

Future Valuation (Cash Flow & Totals)

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