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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 2.8Moz. of gold in the reserves and resources category of which 2.3Moz. are in the measured and indicated category. They have a market capitalisation of ~A$593.23M which is a rise of roughly 129% over the last nine months. As of 01/18/2020 they have ~A$71M debt and ~A$42.76M cash. They have 870M shares outstanding and trade on the Australian Stock Exchange and the over-the-counter markets.

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General Details

Financial 01/18/2020
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Mkt. Cap (FD): $259.53M $593.23M 01/18/2020 $333.69M
Total Assets: $120.00M $124.01M 01/18/2020 $4.01M
Total Liabilities: $81.38M $84.10M 01/18/2020 $2.72M
Current Assets: $41.38M $42.76M 01/18/2020 $1.38M
Current Liabilities: $9.65M $9.98M 01/18/2020 $0.32M
Total Debt: $68.96M $71.27M 01/18/2020 $2.31M
Cash: $41.38M $42.76M 01/18/2020 $1.38M
Enterprise Value: $287.12M $621.73M 09/13/1989 $334.62M
Cash Flow: $0.00M $0.00M never $0.00M
Cash Flow Multiple: 0.00 0.00 never 0.00
Net Debt to
Cash Flow Ratio:
n/a n/a never 0.00
Finance within 1 year: 01/18/2020 n/a
Tax Rate: (guess)  30.00% (default)  30.00% 01/18/2020 0.00%
Misc 01/18/2020
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Shares Outstanding: 870,481,000 870,481,000 01/18/2020 0
Shares (FD): 885,481,000 885,481,000 01/18/2020 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 01/18/2020 n/a
Production (Gold Eq Oz.): (guess) 
0
(guess) 
0
01/18/2020 0
Production (Silver Eq Oz.): (guess) 
0
(guess) 
0
01/18/2020 0
Initial CapEx (Outstanding): $260.00M
100.18% of Mkt.Cap
$260.00M
43.83% of Mkt.Cap
01/18/2020 $0.00M
Funding Option: n/a n/a 01/18/2020 n/a
Documentation: none PRODUCER 09/19/2020 n/a
Value Adjustment: none none never 0%

Resource Data

GOLD 01/18/2020
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: 1.50M 1.50M 01/18/2020 0.00M
Measured & Indicated: 2.30M 2.30M 01/18/2020 0.00M
Inferred: 0.50M 0.50M 01/18/2020 0.00M
Reserves & Resources: 2.80M 2.80M never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: 1.35M 1.35M 01/18/2020 0.00M
Measured & Indicated: 1.93M 1.93M 01/18/2020 0.00M
Inferred: 0.23M 0.23M 01/18/2020 0.00M
Reserves & Resources: 2.15M 2.15M never 0.00M
C
U
R
R
E
N
T
Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 01/18/2020 $0.00
Extra Operating Cost: n/a n/a 01/18/2020 $0.00
Average Grade: 1.20 g/t 1.20 g/t 01/18/2020 n/a
Recovery Rate: (CG)  90.00% (CG)  90.00% 09/19/2020 0.00%
F
U
T
U
R
E
Proven & Probable: 2.50M 2.50M 01/18/2020 0.00M
Annual Production: 150,000oz. 150,000oz. 01/18/2020 0oz.
Cash Cost: $600 $600 01/18/2020 $0
Extra Operating Cost: $400 $400 01/18/2020 $0
SILVER 01/18/2020
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 01/18/2020 0.00M
Measured & Indicated: n/a n/a 01/18/2020 0.00M
Inferred: n/a n/a 01/18/2020 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 01/18/2020 0.00M
Measured & Indicated: n/a n/a 01/18/2020 0.00M
Inferred: n/a n/a 01/18/2020 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 01/18/2020 $0.00
Extra Operating Cost: n/a n/a 01/18/2020 $0.00
Average Grade: n/a n/a 01/18/2020 n/a
Recovery Rate: n/a n/a 01/18/2020 0.00%
F
U
T
U
R
E
Proven & Probable: n/a n/a 01/18/2020 0.00M
Annual Production: n/a n/a 01/18/2020 n/a
Cash Cost: n/a n/a 01/18/2020 n/a
Extra Operating Cost: n/a n/a 01/18/2020 n/a

Property

Last Analysis Data  (01/18/2020)
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Development West Africa, Burkina Faso Boulsa 100% (guess) 60,000 Open Pit show
Very large property

6 discoveries.

Early exploration.

1 gpt surface.
Development West Africa, Burkina Faso Tanlouka 100% (guess) 8,000 Open Pit show
1 million oz surface deposit at .8 gpt
Exploration Fox Creek, Canada Fox Creek 100% n/a n/a n/a
Total Land Package Size (ha): 68,000  
Current Data
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Development West Africa, Burkina Faso Boulsa 100% (guess) 60,000 Open Pit show
Very large property

6 discoveries.

Early exploration.

1 gpt surface.
Development West Africa, Burkina Faso Tanlouka 100% (guess) 8,000 Open Pit show
1 million oz surface deposit at .8 gpt
Exploration Fox Creek, Canada Fox Creek 100% n/a n/a n/a
Total Land Package Size (ha): 68,000  

Profitability (by resource)

Proven &
Probable
01/18/2020
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.): 1.50M 1.50M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -12.80M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 1.35M 1.35M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -11.52M
Maximum Profit (Gold): $526.08M $854.56M n/a $328.48M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $526.08M $854.56M n/a $328.48M
Max Profit / Current MCap: 2.027 1.441 n/a -0.587
Max Profit Per Share (Gold): $0.59 $0.97 n/a $0.37
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $0.59 $0.97 n/a $0.37
Total Free Profit Per Share: $0.17 $0.03 n/a $-0.14
FD Mkt. Cap / Gold Eq.: $192.25 $439.43 n/a $247.18
FD Mkt. Cap / Silver Eq.: $2.22 $5.63 n/a $3.41
FD Mkt. Cap / Per Metal
as % Spot Price:
12.35% 23.08% n/a 10.73%
Measured &
Indicated
01/18/2020
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.): 2.30M 2.30M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -19.63M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 1.93M 1.93M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -16.44M
Maximum Profit (Gold): $750.54M $1,219.18M n/a $468.63M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $750.54M $1,219.18M n/a $468.63M
Max Profit / Current MCap: 2.892 2.055 n/a -0.837
Max Profit Per Share (Gold): $0.85 $1.38 n/a $0.53
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $0.85 $1.38 n/a $0.53
Total Free Profit Per Share: $0.42 $0.44 n/a $0.01
FD Mkt. Cap / Gold Eq.: $134.75 $308.01 n/a $173.26
FD Mkt. Cap / Silver Eq.: $1.56 $3.95 n/a $2.39
FD Mkt. Cap / Per Metal
as % Spot Price:
8.66% 16.17% n/a 7.52%

Reserves &
Resources
01/18/2020
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.): 2.80M 2.80M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -23.90M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 2.15M 2.15M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -18.36M
Maximum Profit (Gold): $838.22M $1,361.60M n/a $523.38M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $838.22M $1,361.60M n/a $523.38M
Max Profit / Current MCap: 3.230 2.295 n/a -0.934
Max Profit Per Share (Gold): $0.95 $1.54 n/a $0.59
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $0.95 $1.54 n/a $0.59
Total Free Profit Per Share: $0.52 $0.60 n/a $0.08
FD Mkt. Cap / Gold Eq.: $120.66 $275.79 n/a $155.13
FD Mkt. Cap / Silver Eq.: $1.39 $3.53 n/a $2.14
FD Mkt. Cap / Per Metal
as % Spot Price:
7.75% 14.48% n/a 6.73%

Future Valuation (Cash Flow & Totals)

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