Kiaka gold project to drive free cash flow for Australia's West African, says Cormark

West African Resources

10/03/2025 19:57

** Analysts at Cormark Securities expect the Kiaka gold project of Australia-listed West African Resources WAF.AX to create long-term free cash flow generation

** Says Kiaka in West Africa will be a long-life, low-cost gold project for WAF

** Expects Kiaka to add over 200,000 oz per year to company's production profile, establishing WAF as a mid-tier gold producer

** Estimates average annual production for the company of 435,000 oz over the next nine years

** West African remains relatively cheap compared to other mid-tier producers with similar production profiles - brokerage

** Cormark has a "buy" recommendation on stock and A$3 PT

** Four of four analysts rate the stock "buy"; their median PT is A$2.83 – LSEG data

** Stock up 56.1% YTD

 (Reporting by Rishav Chatterjee in Bengaluru)

 ((Rishav.Chatterjee@thomsonreuters.com;))