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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$702.82M which is a rise of roughly 6% over the last three months. As of 01/16/2021 they have ~A$227M debt and ~A$79.38M 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 $702.82M 01/16/2021 $42.03M
Total Assets: $134.87M $135.41M 01/16/2021 $0.54M
Total Liabilities: $271.30M $272.38M 01/16/2021 $1.08M
Current Assets: $79.06M $79.38M 01/16/2021 $0.32M
Current Liabilities: $10.85M $10.90M 01/16/2021 $0.04M
Total Debt: $226.34M $227.24M 01/16/2021 $0.90M
Cash: $79.06M $79.38M 01/16/2021 $0.32M
Enterprise Value: $808.06M $850.68M 12/15/1996 $42.62M
Cash Flow: $101.95M $95.59M never $-6.36M
Cash Flow Multiple: 6.48 7.35 never 0.87
Net Debt to
Cash Flow Ratio:
1.44 1.55 never 0.10
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) 
13,713,846
01/16/2021 -1,059,487
Initial CapEx (Outstanding): $260.00M
39.35% of Mkt.Cap
$260.00M
36.99% 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 -9.01M
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 -8.11M
Maximum Profit (Gold): $1,013.87M $950.66M n/a $-63.21M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $1,013.87M $950.66M n/a $-63.21M
Max Profit / Current MCap: 1.534 1.353 n/a -0.182
Max Profit Per Share (Gold): $1.14 $1.07 n/a $-0.07
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $1.14 $1.07 n/a $-0.07
Total Free Profit Per Share: $0.18 $0.05 n/a $-0.13
FD Mkt. Cap / Gold Eq.: $431.89 $459.36 n/a $27.47
FD Mkt. Cap / Silver Eq.: $5.85 $6.70 n/a $0.85
FD Mkt. Cap / Per Metal
as % Spot Price:
23.62% 25.77% n/a 2.14%
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 -12.71M
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 -10.77M
Maximum Profit (Gold): $1,347.85M $1,263.82M n/a $-84.03M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $1,347.85M $1,263.82M n/a $-84.03M
Max Profit / Current MCap: 2.040 1.798 n/a -0.242
Max Profit Per Share (Gold): $1.52 $1.42 n/a $-0.09
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $1.52 $1.42 n/a $-0.09
Total Free Profit Per Share: $0.56 $0.41 n/a $-0.15
FD Mkt. Cap / Gold Eq.: $324.87 $345.53 n/a $20.66
FD Mkt. Cap / Silver Eq.: $4.40 $5.04 n/a $0.64
FD Mkt. Cap / Per Metal
as % Spot Price:
17.77% 19.38% n/a 1.61%

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 -23.31M
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 -15.54M
Maximum Profit (Gold): $1,944.25M $1,823.04M n/a $-121.22M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $1,944.25M $1,823.04M n/a $-121.22M
Max Profit / Current MCap: 2.942 2.594 n/a -0.348
Max Profit Per Share (Gold): $2.19 $2.05 n/a $-0.14
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $2.19 $2.05 n/a $-0.14
Total Free Profit Per Share: $1.23 $1.04 n/a $-0.19
FD Mkt. Cap / Gold Eq.: $225.22 $239.54 n/a $14.33
FD Mkt. Cap / Silver Eq.: $3.05 $3.49 n/a $0.44
FD Mkt. Cap / Per Metal
as % Spot Price:
12.32% 13.44% n/a 1.12%

Future Valuation (Cash Flow & Totals)

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