West African Resources (ASX:WAF)
West African Resources Limited (ASX:WAF) is a gold exploration company dedicated to creating shareholder value through the acquisition, exploration and development of projects in West Africa.
Major construction works commenced on its Sanbrado Gold Project in early 2019. Sanbrado is fully-funded to production, raising over A$78m in equity and US$200m in senior debt 2018.
Studies have confirmed a robust project with an initial 10-year mine life, including 6.5 years of underground mining. Strong early cashflow and a rapid payback of capital at US$1300/oz gold. Sanbrado is expected to produce over 300,000oz gold in its first year of production and an average of 217,000oz a year in its first five years at AISC of less than US$600/oz.