West African Resources Reassures Investors Over Burkina Faso Mining Permits

Highlights:

• Shares Surge 10%: West African Resources Limited (ASX: WAF) shares jumped to $1.48 after confirming its mining permits in Burkina Faso are secure.
• Compliance Confirmed: The company clarified that recent comments from the Burkina Faso president regarding permit withdrawals were aimed at law-violating companies, not WAF.
• Government Assurance: Officials from Burkina Faso's Ministry of Mines and Quarries confirmed that none of West African Resources’ permits are under review and all remain valid.

Shares Jump as Permits Remain in Good Standing

West African Resources Limited (ASX: WAF) shares surged by 10% to $1.48 after the company provided a key update regarding its mining permits in Burkina Faso. The gold miner confirmed communication with the Burkina Faso government following concerns about the potential withdrawal of mining permits.

Compliance with Burkina Faso Laws

In response to recent comments from the country’s president about mining permit withdrawals, West African Resources clarified that the remarks were directed at companies violating Burkina Faso’s laws. West African Resources reassured stakeholders that it operates fully in compliance with the country's regulations. The company further clarified that officials from the Ministry of Mines and Quarries have confirmed that none of its permits are currently under review.

Shares Rebound After Clarification

At the time of writing, shares of West African Resources were trading at $1.43, reflecting a 6.7% rise. The company’s clear communication and reassurance have helped ease investor concerns, restoring confidence in its Burkina Faso operations.

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