West African Resources discusses Kiaka equity with Burkina Faso

West African Resources (WAF) announced it has engaged in discussions with the Burkina Faso government regarding a request to acquire an additional equity interest in Kiaka SA, aiming to promote long-term sustainable growth in the country's gold mining industry. The government affirmed its commitment to reaching an outcome that respects all parties' legitimate interests. West African Resources submitted a proposal to increase national participation and government revenue from new and existing mining projects as an alternative to the Kiaka equity purchase.

The discussions were held with the government's legal entity, Société de Participation Minière du Burkina Faso (SOPAMIB), which was established in 2024 to manage mining assets and increase national revenue. WAF executive chairman and chief executive Richard Hyde confirmed ongoing constructive engagement with SOPAMIB to identify mining investment opportunities that benefit Burkina Faso, while respecting the financial interests of existing shareholders and lenders. The company reiterated that its Sanbrado and Toega operations were not part of these discussions.

West African Resources confirmed its compliance with ASX Listing Rules, stating that this announcement would lift the suspension of its securities from quotation, reinstating them for trade. Operations at Sanbrado and Kiaka remain unaffected, with WAF on track to achieve its group production guidance of 290,000 - 360,000oz gold in CY2025.