Australia's West African Resources rises on gold reserve estimate hike

West African Resources

03/08/2022 04:15

** Shares of gold explorer West African Resources  WAF.AX 
rise as much as 2.9% to A$1.410, their highest since April 19
    ** Co says following a feasibility study at its Kiaka
project in Burkina Faso, mineral resources have increased 9% to
12.6 mln ounces (Moz) gold from 11.6 Moz  urn:newsml:reuters.com:*:nASX14XsJM
    ** Says ore reserves have increased 365% to 6.2 Moz gold
from 1.7 Moz 
    ** Adds 2022 production guidance unchanged at
220,000-240,000 ounces at all-in sustaining costs of
$1,040-$1,100/oz
    ** As of last close, stock up 3.8% this year

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))