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Home CompaniesWest African Resources Ltd

West African Resources Ltd

Basic Materials Gold
PortfolioPortfolio WatchlistWatchlist
Company price
3.45 AUD -0.10 ( 2.82%)
Last update at 2026-11-06T05:37:00Z
VOLUME
6941863
Market Cap
4064.59M
P/E
6.34

Momentum Score

…

West African Resources Limited engages in the mining, mineral processing, acquisition, exploration, and project development of gold projects in West Africa. The company has 85% interests in the Sanbrado Gold and Kiaka Gold projects located in Burkina Faso. It also holds interests in the Toega Gold Project located in Burkina Faso. The company was incorporated in 2006 and is based in Subiaco, Australia.

Source: TradingView
The charts and visual representations are sourced from TradingView through embedded widgets. For any issues with chart display, please visit the TradingView website

Day Price Range
3.35
Low
3.51
High
52 Week Price Range
2.38
Low
3.85
High

Momentum Score

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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.

Score - Rating
>= 1 - Low / > 1 but < 2 - Below Average / > 2 but < 3 - Average / > 3 but < 4 - Above Average / > 4 - High
AI Summary

West African Resources Ltd is an Australian-listed gold producer operating the Sanbrado mine in Burkina Faso and pursuing regional exploration and development across its West African tenements. Long-term growth drivers include optimization and expansion of Sanbrado’s throughput and reserves and exploration upside that could support additional production, which may benefit from sustained gold prices. Investors may find the company attractive for direct exposure to a producing West African asset base with development potential.

Risk Score
Medium

Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.

Key Metrics*

Previous Close
3.55
Dividend Yield
-
Revenue TTM
2528.40M
Revenue Per Share
2.21
Gross Profit TTM
1495.00M
Debt / Equity
0.26
ROE
45.70%
Net Debt
-138.90M
ROCE
36.42%
Diluted EPS TTM
0.56

Key Financials*

Income Statement

Balance Sheet

Change in Cash

Total Operating Cash

Dividends Paid

Breakdown 2026-06-30 2025-12-31 2025-06-30 2024-12-31 2024-06-30
Type yearly yearly yearly yearly yearly
Date 2026-06-30 2025-12-31 2025-06-30 2024-12-31 2024-06-30
Income before tax 807.90M 807.90M 342.08M 342.08M 241.09M
Minority interest -93.50M -93.50M -22.38M -22.38M -17.92M
Net income 473.90M 473.90M 223.84M 223.84M 146.87M
Selling general administrative 6.10M 6.10M 3.08M 3.08M 9.79M
Selling and marketing expenses - - - 5.03M -7.19M
Gross profit 860.40M 860.40M 421.81M 421.81M 354.73M
Reconciled depreciation 102.10M 102.10M 75.23M 75.23M 86.94M
Ebit 810.30M 810.30M 344.86M 344.86M 242.32M
Ebitda 913.20M 913.20M 421.01M 421.01M 329.81M
Depreciation and amortization 102.90M 102.90M 76.15M 76.15M 87.49M
Operating income 810.30M 810.30M 324.22M 324.22M 236.42M
Other operating expenses 723.50M 723.50M 400.15M 400.15M 418.36M
Interest expense 30.00M 30.00M 2.77M 2.77M 1.77M
Tax provision 240.50M 240.50M 95.86M 95.86M 76.30M
Interest income 9.10M 9.10M 5.48M 5.48M 2.28M
Net interest income -20.90M -20.90M 2.71M 2.71M 0.51M
Income tax expense 240.50M 240.50M 95.86M 95.86M 76.30M
Total revenue 1533.80M 1533.80M 724.37M 724.37M 658.82M
Total operating expenses 50.10M 50.10M 97.59M 97.59M 354.73M
Cost of revenue 673.40M 673.40M 302.55M 302.55M 304.08M
Total other income expense net -2.40M -2.40M 17.86M 17.86M 4.68M
Net income from continuing ops 567.40M 567.40M 246.22M 246.22M 164.80M
Net income applicable to common shares - - 223.84M 223.84M 146.87M
Breakdown 2026-06-30 2025-12-31 2025-06-30 2024-12-31 2024-06-30
Type yearly yearly yearly yearly yearly
Date 2026-06-30 2025-12-31 2025-06-30 2024-12-31 2024-06-30
Total assets 2715.60M 2715.60M 1974.30M 1974.30M 1220.84M
Other current assets 4.70M 4.70M 8.87M 8.87M 3.27M
Total liab 957.40M 957.40M 660.42M 660.42M 315.01M
Total stockholder equity 1720.00M 1720.00M 1246.98M 1246.98M 861.20M
Other current liab 306.70M 306.70M 95.86M 95.86M -
Common stock 480.40M 480.40M 480.38M 480.38M -
Capital stock 480.40M 480.40M 480.38M 480.38M 335.86M
Retained earnings 1140.40M 1140.40M 716.64M 716.64M 494.67M
Cash 592.00M 592.00M 391.67M 391.67M 135.08M
Total current liabilities 490.90M 490.90M 194.98M 194.98M 128.65M
Net debt -138.90M -138.90M 34.30M 34.30M 12.10M
Short term debt 109.90M 109.90M 30.27M 30.27M -
Short long term debt 103.80M 103.80M 23.78M 23.78M 14.10M
Short long term debt total 453.10M 453.10M 425.97M 425.97M -
Other stockholder equity - - - 28.91M -
Property plant equipment - - - 1325.07M -
Total current assets 991.50M 991.50M 649.23M 649.23M 474.19M
Net receivables 129.90M 129.90M 114.52M 114.52M -
Long term debt 334.40M 334.40M 382.71M 382.71M 133.08M
Inventory 264.90M 264.90M 134.18M 134.18M 103.92M
Accounts payable 74.30M 74.30M 68.85M 68.85M 46.25M
Accumulated other comprehensive income 99.20M 99.20M 49.97M 49.97M -
Non currrent assets other 18.20M 18.20M 17.22M 17.22M -
Non current assets total 1724.10M 1724.10M 1325.07M 1325.07M 746.65M
Capital lease obligations 14.90M 14.90M 19.48M 19.48M 1.97M
Long term debt total - - - 395.70M -
Breakdown 2026-06-30 2025-12-31 2025-06-30 2024-12-31 2024-06-30
Type yearly yearly yearly yearly yearly
Date 2026-06-30 2025-12-31 2025-06-30 2024-12-31 2024-06-30
Investments - - -487.35M -487.35M -228.34M
Total cashflows from investing activities -530.70M -530.70M -489.34M -489.34M -228.34M
Net borrowings -10.20M -10.20M 375.88M 375.88M -
Total cash from financing activities -17.60M -17.60M 512.72M 512.72M -23.18M
Net income 473.90M 473.90M 223.84M 223.84M 146.87M
Change in cash 194.50M 194.50M 256.59M 256.59M -38.31M
Begin period cash flow 397.50M 397.50M 135.08M 135.08M 173.39M
End period cash flow 592.00M 592.00M 391.67M 391.67M 135.08M
Total cash from operating activities 734.00M 734.00M 206.94M 206.94M 207.19M
Issuance of capital stock - - 150.23M 150.23M 0.25M
Depreciation 102.90M 102.90M - 76.15M 87.49M
Other cashflows from investing activities - - -4.17M -4.17M 0.00M
Change to inventory -90.80M -90.80M - - -35.89M
Change to account receivables -5.90M -5.90M - - -37.52M
Sale purchase of stock - - -5.24M -5.24M -0.02M
Other cashflows from financing activities -7.40M -7.40M -8.15M -8.15M -23.41M
Capital expenditures 430.00M 430.00M 485.16M 485.16M 228.34M
Change in working capital 98.70M 98.70M -56.55M -56.55M -39.90M
Stock based compensation - - - 3.08M 2.60M
Other non cash items 58.50M 58.50M 263.50M 263.50M 10.13M
Free cash flow 304.00M 304.00M -235.71M -235.71M -21.14M

Peer Comparison*

Sector: Basic Materials Industry: Gold

Stock Name
Change
(AUD)
Price
(AUD)
Trailing
PE (x)
Forward
PE (x)
Price Sales
TTM (x)
Price to Book Value (x)
Enterprise Value
to Revenue (x)
Enterprise Value
to EBITDA (x)
WAF
West African Resources Ltd		 -0.10
2.82%		 3.45 6.34 4.38 1.61 1.88 1.28 2.31
NEM
Newmont Corporation		 -2.82
1.62%		 171.57 12.09 10.42 6.66 3.15 4.08 6.49
NST
Northern Star Resources Ltd		 -0.29
1.12%		 25.65 22.36 18.80 4.85 2.15 4.51 8.33
EVN
Evolution Mining Ltd		 -0.35
2.64%		 12.91 18.16 13.61 4.88 4.07 4.25 7.74
DPM
Dpm Metals Inc.		 -0.65
1.19%		 54.07 12.00 9.34 9.29 2.70 5.58 8.45

Profile*

West African Resources Ltd

West African Resources Limited engages in the mining, mineral processing, acquisition, exploration, and project development of gold projects in West Africa. The company has 85% interests in the Sanbrado Gold and Kiaka Gold projects located in Burkina Faso. It also holds interests in the Toega Gold Project located in Burkina Faso. The company was incorporated in 2006 and is based in Subiaco, Australia.

1 Alvan Street, Subiaco, WA, Australia, 6008

61 8 9481 7344

https://www.westafricanresources.com

Name Title Year Born
Mr. Richard Hyde B.Sc., MAusIMM, MAIG Founder, Exec. Chairman & CEO NA
Mr. Padraig O'Donoghue CFO & Company Sec. NA
Mr. Lyndon Hopkins COO & Exec. Director NA
Ms. Elizabeth Anne Mounsey Exec. Director of HR & Director NA
Mr. Stuart Cruickshanks Gen. Mang. of Technical Services NA
Nathan Ryan IR Contact NA
Mr. Richard Hyde B.Sc., MAIG, MAusIMM Founder, Executive Chairman & CEO NA
Mr. Padraig O'Donoghue CFO & Company Secretary NA
Mr. Lyndon Hopkins COO & Executive Director NA
Ms. Elizabeth Anne Mounsey Executive Director of Human Resources & Executive Director NA

Disclaimer - (*)This information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on an ‘as is’ basis, using their API. We cannot guarantee the completeness or validity of the information and data provided on this page, as well as via the API. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general information purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine is not liable for any errors or omissions in the information provided or for any actions taken in reliance on it. You should seek advice from a financial adviser, stockbroker or other professional adviser (including taxation and legal advice) as necessary before acting on this information.

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