West African Resources announced the 1Q FY23 activities report

West African Resources Limited (ASX: WAF) reported 1Q FY23 results as follows:

• Unhedged gold production projection for 2023 is 210,000 - 230,000 oz at AISC of US$1,175/oz2.
• The gold output was 56,307 oz (up 13% from the previous quarter) at an AISC of US$1,172/oz (down 10% from the previous quarter).
• Following the last 2021 income tax instalment of AU$25 million, the company generated operational cashflow of AU$29 million.
• At the end of the quarter, the company had AU$160 million in cash and AU$32 million in unsold gold bullion.
• Its mineral resources grew by 1.0 million ounces to 12.6 million ounces of gold, net of mining depletion.

• The company's production to average +200,000 oz of gold annually in 2023-24 and +400,000 oz in 2025-32.

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