ASX-listed West African Resources (WAF) has reported that it met its 2025 group production guidance, with full-year gold production of 300 383 oz.

The company, in a media announcement, highlights that full-year gold sales totalled 280 065 oz at an average price of $3 525/oz.

Gold production for the fourth quarter was 112 019 oz, while gold sales for the quarter were 105 995 oz at an average price of $4 058/oz.

SANBRADO

West African notes that owner mining openpit activities at the company’s Sanbrado M5 North pit, in Burkina Faso, began in the fourth quarter, resulting in 299 000 t of ore being mined at an average grade of 0.8 g/t for 7 927 oz of gold.

The company notes that full-year 2025 openpit mining saw 2.25-million tonnes of ore mined at a grade of 0.8 g/t for 60 510 oz of gold.

Underground mined ounces decreased 16% in the fourth quarter, compared with the third quarter.

The company says this decrease reflects a 14% lower underground grade mined in the quarter, with 141 000 t of ore mined from M1 South at 8.4 g/t for 37 955 oz of gold.

Full-year 2025 underground mining saw 587 000 t of ore mined at a grade of 7.7 g/t for 145 894 oz of gold.

West African explains that gold production decreased by 17% in the fourth quarter, versus the third quarter, mainly related to 14% lower mill throughput in the fourth quarter with a planned shutdown completed in the quarter.

Sanbrado produced 49 732 oz of gold in the fourth quarter from 745 000 t of ore milled at a head grade of 2.2 g/t and recovery of 93.2%.

This brought full-year 2025 gold production at Sanbrado to 205 228 oz.

KIAKA

Additionally, openpit mining continued to ramp up during the quarter with an increase of 76% in mined ounces in the fourth quarter versus the previous quarter.

Following the completion of the run-of-mine pad construction, West African says mined ore increased as mining activities focused on the Kiaka Main Stage 1 pit.

The company explains that this increase reflects 46% more ore tonnes mined and a 21% increase in mine grade in the quarter, with 3.27-million tonnes of ore mined at 0.8 g/t for 83 270 oz of gold.

Openpit mining for 2025 saw 6.6-million tonnes of ore mined at a grade of 0.7 g/t for 148 946 oz of gold.

The company says the Kiaka processing plant ramp-up continued on schedule, delivering a strong operational performance in the fourth quarter.

Additional diesel generated power, and stable grid power late during the quarter, allowed for a steady increase in plant throughput and treatment of the harder, higher-grade ore.

Gold production increased by 208% quarter-on-quarter, driven primarily by a 25% increase in mill throughput and a 44% higher head grade.

During the fourth quarter, Kiaka produced 62 287 oz of gold from 2.17-million tonnes of ore processed at an average head grade of 1 g/t and metallurgical recovery of 92.9%.

This performance brought total 2025 production for Kiaka to 95 155 oz.

GOLD SALES

West African Resources notes that unhedged gold sales for the quarter were 105 995 oz at an average realised price of $4 058/oz, taking total 2025 gold sales to 280 065 oz at an average price of $3 525/oz.

The difference in gold produced and gold sold relates to a build-up of gold in circuit at Kiaka and timing of gold shipments, the company notes.

“I would like to commend both our Sanbrado and Kiaka operational teams for achieving  gold production guidance for a fifth consecutive year.

“Combined group gold production of 300 383 oz from our Sanbrado and Kiaka gold mining centres for the full-year 2025 was well within [the company’s] annual guidance of 290 000 oz to 360 000 oz, and was a record year of production for [the company]. We look forward to providing our full quarterly activities report in the coming weeks,” says West African executive chairperson and CEO Richard Hyde.