• Sanbrado gold production of 51,178 oz at AISC of US$1,216/oz in Q4
• Full year 2024 production of 206,622 oz at AISC of US$1,240/oz, achieving guidance
• Kiaka construction and operational readiness progressing on time and budget

West African Resources Limited (ASX: WAF) has reported its activities for the quarter ended 31 December 2024. Sanbrado Gold Operations produced 51,178 ounces of gold in Q4 at an AISC of US$1,216/oz. Full year 2024 gold production was 206,622 oz at an AISC of US$1,240/oz, achieving the company's annual guidance of 190,000 to 210,000 ounces at an AISC of less than US$1,300/oz. Gold sales in Q4 were 47,953 ounces at an average realised price of US$2,690/oz. The company remains unhedged and held 12,783 ounces of unsold gold bullion at the end of the quarter. Two Lost Time Injuries were recorded in Q4, but there were no other significant health or safety incidents, and WAF's TRIFR at the end of December was 1.51, significantly lower than the industry average. Open pit mined ounces increased 32% in Q4 versus the previous quarter, while underground mined ounces increased 8%. Gold production increased 7% in Q4 versus Q3, mainly due to a 5% higher mill throughput. Construction, operational readiness and grade control drilling at the Kiaka project are progressing on-time and on-budget, with first gold expected in Q3 2025. The company generated net A$76 million of cash from operating activities in Q4 after payment of A$18 million of income taxes, while capital investing activities used A$132 million, including A$117 million for Kiaka development.

WAF achieved its full year 2024 production guidance of 190,000 to 210,000 ounces at an AISC of less than US$1,300/oz, producing 206,622 oz at an AISC of US$1,240/oz.

WAF is on track to become a +420,000 ounce per annum gold producer with the expected start of production at Kiaka in Q3 2025. The company looks forward to releasing its 2025 guidance in the coming weeks.