2314 GMT [Dow Jones]--Upgrades to West African Resources' 10-year production plan are outweighed by the company's higher cost outlook, according to Macquarie. The bank cuts its target on the stock by 10% to A$4.50/share. It reiterates an outperform rating. The gold miner's production estimate for the coming decade is 12% higher than prior Visible Alpha consensus, says Macquarie. "Kiaka is the key source of the upgrade," it says. However, "higher overall production over the next 10 years is offset by the impact of higher re-profiled costs," says Macquarie. West African Resources' 2026 all-in sustaining cost guidance is 10% higher than expected, it says. Shares are up 5% at A$3.36. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

(END) Dow Jones Newswires

March 31, 2026 19:14 ET (23:14 GMT)

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