West African Resources' Strong Production Result Reflects Quality of Team, Assets, Euroz Hartleys Says

MT Newswires Live

01/14

West African Resources' (ASX:WAF) strong production result is a testament to the quality of its team and assets, Euroz Hartleys said in a note on Tuesday.

The company provided a production update for its Sanbrado and Kiaka gold operations in Burkina Faso, with group production of 112,000 ounces, up 21% on the previous quarter.

The company met 2025 guidance with 300,400 ounces produced, within the targeted range of 290,000 ounces to 360,000 ounces, and slightly exceeding Euroz Hartleys' estimate of 296,700 ounces.

The investment advisory firm said the company remains cheap and it continues to be a good investment, but it is mindful of some country risks.

Euroz Hartleys maintained its speculative buy recommendation on West African Resources and raised its price target to AU$5 from AU$4.50.

Company shares fell 1% in morning trade on Wednesday.

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