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    WAF   AU000000WAF6

WEST AFRICAN RESOURCES LIMITED

(WAF)
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West African Resources Limited Intercepts 2m at 82.7 g/t Gold and 10.5m at 6.6 g/t Gold in Northern Shoot at M1 South

08/16/2021 | 07:49pm EDT

West African Resources Limited reported high gold has been intercepted within the northern shoot at the M1 South deposit, Sanbrado Gold Project, Burkina Faso. Highlights: Underground diamond drilling within the northern shoot at M1 South returns high grade results; Intercepts located outside of the current mine plan at 300m to 400m below surface; Strengthens potential to extend the M1 South underground to the north; Follow-up drilling planned for Fourth Quarter 2021 and Second Quarter 2022. Exploration drilling from the 2025mRL level (275m bsl) at the M1 South Deposit has intercepted high-grade gold in the northern shoot at the M1 South gold deposit. High grade results include: M1SRD_0185: 1m at 8.5 g/t Au from 126m; M1SRD_0189: 3m at 12.2 g/t Au from 226m - and 3m at 18.4 g/t Au from 246m - and 2m at 82.7 g/t Au from 282m; M1SRD_0190: 10.5m at 6.6 g/t Au from 224.5m. The new results are in addition to historic drilling beneath the northern part of the M1 South open pit M1 South open pit including: TAN16-DD052: 4m at 29.9 g/t Au from 122m - and 4m at 38.9 g/t Au from 172m; TAN16-DD077A: 11m at 7.9 g/t Au from 279m - and 10m at 5.3 g/t Au from 293m TAN17-DD172A: 0.5m at 34.1 g/t Au from 316m.


© S&P Capital IQ 2021
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Financials
Sales 2021 692 M 520 M 520 M
Net income 2021 216 M 162 M 162 M
Net cash 2021 24,0 M 18,0 M 18,0 M
P/E ratio 2021 5,78x
Yield 2021 -
Capitalization 1 229 M 923 M 923 M
EV / Sales 2021 1,74x
EV / Sales 2022 2,08x
Nbr of Employees 375
Free-Float 88,6%
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Number of Analysts 2
Last Close Price 1,39 AUD
Average target price 1,68 AUD
Spread / Average Target 20,5%
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Managers and Directors
Richard Hyde Executive Chairman & Chief Executive Officer
Padraig O'Donoghue Chief Financial Officer & Secretary
Lyndon George Hopkins Chief Operating Officer & Executive Director
Rodney Lloyd Leonard Lead Independent Director
Nigel Spicer Independent Non-Executive Director
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