Australia's West African Resources falls on hiking Burkina Faso govt's stake in projects

West African Resources

04/06/2025 02:01

** Shares of West African Resources WAF.AX fall as much as 6.4% to A$2.65, their biggest intraday pct loss since May 13

** The gold miner says it will align the Government of Burkina Faso's equity interest in co's mining projects with new Burking Faso Mining Code adopted in August 2024

** Says upon implementing the equity ownership changes in 2025, the state's free-carried equity interest will increase to 15% from 10% WAF's three operating projects Sanbrado, Kiaka and Toega

** Co maintains 2025 gold production forecast of 190,000 – 210,000 oz gold

** Stock up ~90%, YTD

 (Reporting by Sneha Kumar in Bengaluru)

 ((Sneha.kumar@thomsonreuters.com;))