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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.

Financial News · Live Terminal

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

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

Sunmi Technology Launches Up to HK$1.1 Billion Hong Kong IPO

Market Chatter: Japan to Back Biofuel Pilot in Mozambique, Ghana with 4 Billion Yen Funding

Peel Mining Secures New South Wales Exploration License; Shares Up 7%

Invictus Energy Secures Binding Commitments for AU$10 Million Placement; Shares Down 18%

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Saturn Metals Sells West Wyalong Gold Project to Xpedra Resources for Cash, Shares

AIC Mines Unit Signs Asset Swap Deal With Cooper Metals; Shares Up 3%

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Sunrise Energy Metals Reports AU$117 Million Cash, Notes Growing US Interest in Scandium Project; Shares Up 5%

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Nojima Clarifies Hitachi Unit Acquisition Report, Says Deal Under Consideration

Kairos Minerals to Change Name to 'Pilbara Gold' from Start of Trading on Wednesday

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