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West African Resources Ltd

www: www.westafricanresources.com   email: info@westafricanresources.com
Category: Mid-tier Producer
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Symbol Data

Symbol Currency
ASX:WAF AUD
OTCMKTS:WFRSF USD

Description

West African Resources Ltd are a gold focused mid-tier producer with two mines in development in Burkina Faso and one exploration property. They have approximately 4.4Moz. of gold in the reserves and resources category of which 2.4Moz. are in the measured and indicated category. They have a market capitalisation of ~A$709.68M which is a rise of roughly 7% over the last seven months. As of 01/16/2021 they have ~A$215M debt and ~A$75.13M cash. They have 879M shares outstanding and trade on the Australian Stock Exchange and the over-the-counter markets.

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General Details

Financial 01/16/2021
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
Mkt. Cap (FD): $660.79M $709.68M 01/16/2021 $48.90M
Total Assets: $134.87M $128.17M 01/16/2021 $-6.71M
Total Liabilities: $271.30M $257.80M 01/16/2021 $-13.49M
Current Assets: $79.06M $75.13M 01/16/2021 $-3.93M
Current Liabilities: $10.85M $10.31M 01/16/2021 $-0.54M
Total Debt: $226.34M $215.08M 01/16/2021 $-11.26M
Cash: $79.06M $75.13M 01/16/2021 $-3.93M
Enterprise Value: $808.06M $849.63M 12/03/1996 $41.57M
Cash Flow: $101.95M $99.96M never $-1.99M
Cash Flow Multiple: 6.48 7.10 never 0.62
Net Debt to
Cash Flow Ratio:		 1.44 1.40 never -0.04
Finance within 1 year: 01/16/2021 n/a
Tax Rate: (guess)  30.00% (default)  30.00% 01/16/2021 0.00%
Misc 01/16/2021
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
Shares Outstanding: 878,932,000 878,932,000 01/16/2021 0
Shares (FD): 888,000,000 888,000,000 01/16/2021 0
Insider Ownership: n/a n/a never n/a
Company Type: Mostly Gold Mostly Gold never n/a
Production ETA: n/a 01/01/2020 01/16/2021 n/a
Production (Gold Eq Oz.): (guess) 
200,000		 (guess) 
200,000		 01/16/2021 0
Production (Silver Eq Oz.): (guess) 
14,773,333		 (guess) 
14,266,614		 01/16/2021 -506,719
Initial CapEx (Outstanding): $260.00M
39.35% of Mkt.Cap		 $260.00M
36.64% of Mkt.Cap 		01/16/2021 $0.00M
Funding Option: n/a n/a 01/16/2021 n/a
Documentation: none PRODUCER 01/16/2021 n/a
Value Adjustment: 30% 30% never 0%

Resource Data

GOLD 01/16/2021
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: 1.70M 1.70M 01/16/2021 0.00M
Measured & Indicated: 2.40M 2.40M 01/16/2021 0.00M
Inferred: 2.00M 2.00M 01/16/2021 0.00M
Reserves & Resources: 4.40M 4.40M never 0.00M
P
L
A
U
S
I
B
L
E		 Proven & Probable: 1.53M 1.53M 01/16/2021 0.00M
Measured & Indicated: 2.03M 2.03M 01/16/2021 0.00M
Inferred: 0.90M 0.90M 01/16/2021 0.00M
Reserves & Resources: 2.93M 2.93M never 0.00M
C
U
R
R
E
N
T		 Annual Production: (guess) 
200,000oz.		 (guess) 
200,000oz.		 01/16/2021 0oz.
Cash Cost: $650 $650 01/16/2021 $0.00
Extra Operating Cost: $450 $450 01/16/2021 $0.00
Average Grade: 1.20 g/t 1.20 g/t 01/16/2021 n/a
Recovery Rate: (CG)  90.00% (CG)  90.00% 01/16/2021 0.00%
F
U
T
U
R
E		 Proven & Probable: 3.50M 3.50M 01/16/2021 0.00M
Annual Production: 250,000oz. 250,000oz. 01/16/2021 0oz.
Cash Cost: $650 $650 01/16/2021 $0
Extra Operating Cost: $400 $400 01/16/2021 $0
SILVER 01/16/2021
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: n/a n/a 01/16/2021 0.00M
Measured & Indicated: n/a n/a 01/16/2021 0.00M
Inferred: n/a n/a 01/16/2021 0.00M
Reserves & Resources: n/a n/a never 0.00M
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 01/16/2021 0.00M
Measured & Indicated: n/a n/a 01/16/2021 0.00M
Inferred: n/a n/a 01/16/2021 0.00M
Reserves & Resources: n/a n/a never 0.00M
C
U
R
R
E
N
T		 Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 01/16/2021 $0.00
Extra Operating Cost: n/a n/a 01/16/2021 $0.00
Average Grade: n/a n/a 01/16/2021 n/a
Recovery Rate: n/a n/a 01/16/2021 0.00%
F
U
T
U
R
E		 Proven & Probable: n/a n/a 01/16/2021 0.00M
Annual Production: n/a n/a 01/16/2021 n/a
Cash Cost: n/a n/a 01/16/2021 n/a
Extra Operating Cost: n/a n/a 01/16/2021 n/a

Property

Last Analysis Data  (01/16/2021)
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Development West Africa, Burkina Faso Sanbrado 100% (guess) 60,000 Open Pit show
3 million oz open pit

Producing 200,000 annually.
Development West Africa, Burkina Faso Toega 100% (guess) 25,000 Open Pit show
1 million oz surface deposit at 2.1 gpt.

Feasibility in 2021.

Next mine.
Exploration Fox Creek, Canada Fox Creek 100% n/a n/a n/a
Total Land Package Size (ha): 85,000  
Current Data
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Development West Africa, Burkina Faso Sanbrado 100% (guess) 60,000 Open Pit show
3 million oz open pit

Producing 200,000 annually.
Development West Africa, Burkina Faso Toega 100% (guess) 25,000 Open Pit show
1 million oz surface deposit at 2.1 gpt.

Feasibility in 2021.

Next mine.
Exploration Fox Creek, Canada Fox Creek 100% n/a n/a n/a
Total Land Package Size (ha): 85,000  

Profitability (by resource)

Proven &
Probable		 01/16/2021
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 1.70M 1.70M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -4.31M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 1.53M 1.53M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -3.88M
Maximum Profit (Gold): $1,013.87M $994.10M n/a $-19.77M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $1,013.87M $994.10M n/a $-19.77M
Max Profit / Current MCap: 1.534 1.401 n/a -0.134
Max Profit Per Share (Gold): $1.14 $1.12 n/a $-0.02
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $1.14 $1.12 n/a $-0.02
Total Free Profit Per Share: $0.18 $0.03 n/a $-0.15
FD Mkt. Cap / Gold Eq.: $431.89 $463.85 n/a $31.96
FD Mkt. Cap / Silver Eq.: $5.85 $6.50 n/a $0.66
FD Mkt. Cap / Per Metal
as % Spot Price:		 23.62% 25.57% n/a 1.95%
Measured &
Indicated		 01/16/2021
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 2.40M 2.40M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -6.08M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 2.03M 2.03M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -5.15M
Maximum Profit (Gold): $1,347.85M $1,321.57M n/a $-26.28M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $1,347.85M $1,321.57M n/a $-26.28M
Max Profit / Current MCap: 2.040 1.862 n/a -0.178
Max Profit Per Share (Gold): $1.52 $1.49 n/a $-0.03
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $1.52 $1.49 n/a $-0.03
Total Free Profit Per Share: $0.56 $0.40 n/a $-0.15
FD Mkt. Cap / Gold Eq.: $324.87 $348.91 n/a $24.04
FD Mkt. Cap / Silver Eq.: $4.40 $4.89 n/a $0.49
FD Mkt. Cap / Per Metal
as % Spot Price:		 17.77% 19.23% n/a 1.46%

Reserves &
Resources		 01/16/2021
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 4.40M 4.40M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -11.15M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 2.93M 2.93M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -7.43M
Maximum Profit (Gold): $1,944.25M $1,906.34M n/a $-37.91M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $1,944.25M $1,906.34M n/a $-37.91M
Max Profit / Current MCap: 2.942 2.686 n/a -0.256
Max Profit Per Share (Gold): $2.19 $2.15 n/a $-0.04
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $2.19 $2.15 n/a $-0.04
Total Free Profit Per Share: $1.23 $1.06 n/a $-0.17
FD Mkt. Cap / Gold Eq.: $225.22 $241.88 n/a $16.67
FD Mkt. Cap / Silver Eq.: $3.05 $3.39 n/a $0.34
FD Mkt. Cap / Per Metal
as % Spot Price:		 12.32% 13.33% n/a 1.02%

Future Valuation (Cash Flow & Totals)

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