WAF.ASX: Burkina Government decree to acquire 25% of Kiaka for $175m

Burkina Government decree to acquire 25% of Kiaka for $175m

Stock	West African Resources Ltd (WAF.ASX)
Release Time	21 Apr 2026, 8:21 a.m.
Price Sensitive	Yes

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Burkina Government to acquire 25% of Kiaka for $175m

Key Points

Burkina Faso government to acquire 25% stake in Kiaka Gold Operations
Transaction valued at $175 million
WAF to distribute cash proceeds to shareholders via special dividend

Full Summary

West African Resources Limited (WAF) has held extensive discussions with the Government of Burkina Faso regarding the ownership structure of its Kiaka Gold Operations. On 16 April 2026, the Government published Decree No. 2026-0287/PF/PRIM/MEF/MEMC authorizing Société de Participation Minière du Burkina Faso (SOPAMIB) to acquire an additional 25% equity interest in Kiaka SA. The additional 25% shareholding by SOPAMIB is valued at 70 billion CFA francs (approximately A$175 million). WAF will work cooperatively with the Government to finalize the terms of SOPAMIB's acquisition, aiming to have the transaction completed by the end of CY 2026. WAF plans to distribute the cash proceeds received from the sale of its 25% interest in Kiaka back to shareholders by way of a special dividend. WAF's other operations, Sanbrado and Toega, are not subject to any request for additional participation by the Government.

Outlook

WAF will work cooperatively with the Government of Burkina Faso to finalize the terms of SOPAMIB's acquisition of a 25% shareholding in Kiaka SA, aiming to have the transaction completed by the end of CY 2026. WAF plans to distribute the cash proceeds received from the sale of its 25% interest in Kiaka back to shareholders by way of a special dividend.