ASX:WAF

9 stories mentioning ASX:WAF

Every FINWIRES story that references ASX:WAF, newest first.

ASX Biggest Gainers

Here are the ASX-listed companies with the biggest gains on Friday.Electro Optic Systems (ASX:EOS): +15%, AU$11Elsight (ASX:ELS): +13%, AU$7.184DMedical (ASX:4DX): +12%, AU$3.74Judocapitol FP (ASX:JDO): +11%, AU$1.54Flight Centre Travel Group (ASX:FLT): +8%, AU$10.96West African Resources (ASX:WAF): +8%, AU$3.19Lindian Resources (ASX:LIN): +8%, AU$0.83Ora Banda Mining (ASX:OBM): +7%, AU$1.36Vulcan Energy Resources (ASX:VUL): +7%, AU$3.89Westgold Resources (ASX:WGX): +6%, AU$5.18

ASX 200ASX:4DXASX:ELSASX:EOSASX:FLTASX:JDOASX:LINASX:OBMASX:VULASX:WAFASX:WGX

Asia32d ago

Australian Gold Producers Flush With Free Cash Flow, Says Euroz Hartleys

Australian gold producers generated record free cash flows in the March quarter despite higher capital spending on growth projects, Euroz Hartleys said in a note on Wednesday.Cash flows were helped by higher prices, with gold averaging roughly at AU$6,998 per ounce, even as production remained largely flat.According to the investment firm, around 21 companies collectively generated free cash flow of about AU$2.7 billion, up from AU$1.53 billion in the December quarter."We believe it is important to keep one eye on the real total costs of production, otherwise you risk buying a producer with more leverage than you bargained for," analysts at the brokerage said.The firm added that concerns related to diesel supply are largely a pricing issue rather than a shortage and are already reflected in valuations.Euroz Hartleys said West African Resources (ASX:WAF) was the cheapest gold stock on a cashflow yield basis, while Greatland Resources (ASX:GGP) was the lowest-cost producer.

ASX:EVNASX:GCPASX:NEMASX:NSTASX:PNRASX:RRLASX:WAF

Asia34d ago

West African Resources Says JPMorgan Chase Becomes Substantial Holder

West African Resources (ASX:WAF) received notice that JPMorgan Chase and its affiliates became a substantial holder of the company on May 8, according to a Wednesday filing with the Australian bourse.JPMorgan Chase now owns 58.4 million shares in the company, representing 5.11% of the issued shares, the filing said.

ASX:WAF

Asia52d ago

West African Resources Production to Increase in Coming Quarters, Says Euroz Hartleys

West African Resources' (ASX:WAF) production is expected to increase in the coming quarters helped by improvements in underground grades at Sanbrado and Kiaka, Euroz Hartleys said in a note on Thursday.The company reported first-quarter group production of 107,700 ounces and operating cash flow of AU$440 million, leading to a record cash and bullion balance of AU$1.06 billion.It also maintained its 2026 production guidance at 430,000 ounces to 490,000 ounces, in-line with Euroz Hartleys' forecast of 470,500 ounces.The investment firm believes the miner is "materially undervalued" in light of its production profile and cash generation, especially after the Burkina Faso government's move to acquire a 25% stake in its Kiaka mine for AU$175 million, removing a key source of uncertainty.Prevailing gold prices and the company's strong cash flow are expected to support early debt repayment and ongoing capital returns, with the recent special dividend of AU$0.15 seen as first of many.Euroz Hartleys reiterated a speculative buy rating on West African Resources and raised its price target to AU$5.55 from AU$5.50.

ASX:WAF

Asia53d ago

West African Resources' Total Gold Production Rises in March Quarter

West African Resources (ASX:WAF) said it produced 107,728 ounces of gold at an all-in sustaining cost (AISC) of $1,921 per ounce in the March quarter, compared with 50,033 ounces of gold produced in the prior-year quarter at an all-in sustaining cost of $1,262 per ounce, according to a Thursday Australian bourse filing.Gold sales in the first quarter came in at 104,145 ounces at a realized price of $4,945 per ounce, compared with 48,338 ounces of gold sold at an average price of $2,832 per ounce.Group production is tracking well to achieve its annual guidance of 430,000 ounces to 490,000 ounces of gold at an AISC under $1,900 per ounce.Its shares fell 1% in recent trading on Thursday.

ASX:WAF

Asia54d ago

West African Resources Gold Project Deal With Burkina Faso Bolsters Operational Security, Says Euroz Hartleys

West African Resources' (ASX:WAF) Burkina Faso-based Kiaka Gold project, which saw the state's equity interest increase by a further 25%, represents stronger political alignment and operating security for the company, Euroz Hartleys said in a note on Tuesday.Burkina Faso's state mining entity has now boosted government ownership of the project to 40% after acquiring the additional stake share for AU$175 million. This has reduced West African Resources' holding to 60%.Alignment with government reduces the risk of licensing and operational disruption, marking a key driver for the gold producer. The strengthened relationship could also "create opportunities for deeper collaboration," the investment firm added.The brokerage lowered its net present value estimates for the Kiaka project to AU$2.3 billion from AU$3.08 billion following the company's reduced stake.Euroz Hartleys maintained a speculative buy rating but lowered price target to AU$5.50 from AU$5.70, reflecting the dilution from the reduced Kiaka interest.

ASX:WAF

Asia55d ago

West African Resources Confirms State Entity's 25% Stake Acquisition in Burkina Faso Operations

West African Resources (ASX:WAF) said it will work cooperatively with the Government of Burkina Faso after a decree authorized the state entity Societe de Participation Miniere du Burkina Faso to acquire a 25% interest in Kiaka gold operations, valued at about AU$175 million, according to a Tuesday filing with the Australian bourse.The decree assigns implementation responsibilities to the relevant government ministries, and the company plans to work with the authorities to complete the transaction by the end of the year, per the filing.The company plans to return proceeds from the sale to shareholders via a special dividend, the filing added.The company's shares fell 2% in recent Tuesday trade.

ASX:WAF

Asia56d ago

West African Resources to Release Statement on Acquisition of Stake in Unit Before Tuesday's Market Open

West African Resources (ASX:WAF) said it expects to issue a statement about a decree by the Burkina Faso government related to the company's potential acquisition of an additional 25% stake in its Kiaka subsidiary ahead of market open on Tuesday, according to a Monday filing with the Australian bourse.The release of the statement will be in line with a trading halt granted by the Australian Securities Exchange on Friday, the company said.

ASX:WAF

Asia59d ago

West African Resources Shares Placed in Trading Halt Pending Announcement on Potential Acquisition of Additional Stake in Unit

West African Resources' (ASX:WAF) securities were placed in a trading halt on Friday after the company said an announcement is being prepared regarding a decree by the Burkina Faso government in relation to its potential acquisition of an additional 25% stake in the share capital of the company's Kiaka unit, according to a same-day Australian bourse filing.Kiaka is the owner of the recently constructed Kiaka gold project.The company requested that the trading halt remain in place until the release of the announcement or the commencement of normal trading on April 20, whichever comes first.

ASX:WAF