West African announced its fourth quarter ended 31 December 2022 activities report

West African Resources Limited (ASX: WAF) announced its fourth quarter ended 31 December 2022 activities report:

The company has recorded an FY2022 gold production of 229,224 oz at an all-in sustaining cost (AISC) of US$1,086/oz, reaching the company’s guidance of 220,000 oz to 240,000 oz at an AISC below US$1,100/oz.

• During the quarter, it has produced 49,807 oz of gold at an AISC of US$1,286/oz, and gold sales were 55,364 oz in the quarter at an average realised price of US$1,758/oz.
• At the end of 31 December 2022, the company had cash of AU$173 million.
• During the quarter, it has reported AU$64 million of operating cash flow before AU$25 million tax installment.
• The company has started Earthworks at its Kiaka project and commenced shortlisting proposals targeting US$300 million in debt financing for Kiaka.

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