WAF -10.64%: the Burkina Faso based gold miner struggled today after providing softer-than-expected guidance for CY24. While the 90% owned Sanbrado gold mine remains a low-cost producer of the precious metal, all in sustaining costs are expected to climb more than 15% to over $US1,300/oz, while gold production will fall ~10% to 190-210koz. The increase in underground mining activities will also increase CAPEX costs for the year, which are expected to more than double vs 2023. Money is also being put towards the Kiaka project, also in Burkina Faso, mine construction remains on time and the company expect to see first gold production in 2025. Geo-political risk is high in the region, and as a result, WAF deserves to trade at a decent discount to peers.
MM has no interest in WAF
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