West African Resources Limited: Secures Initial US$100 million Debt for Kiaka Construction

West African Resources Limited (ASX: WAF) an unhedged gold mining company, celebrates its initial drawdown of US$100 million from the secured US$265 million loan facility with Sprott Resource Lending Corp. and Coris Bank International SA. This fund infusion significantly bolsters WAF's financial standing for developing the Kiaka Gold Project in Burkina Faso and other corporate needs.

Richard Hyde, WAF's Managing Director, expresses confidence in Kiaka's progress for its scheduled completion, targeting first gold production in the latter half of 2025. The Kiaka project is expected to yield 219,000 ounces of gold annually for 18.5 years, contributing to WAF's goal of surpassing 400,000 ounces annually from its two mines starting in 2025. Further drawdowns from the Facility are contingent upon fulfilling standard conditions precedent. Sprott and Coris leaders also commend the collaboration, recognizing Kiaka's potential economic and social impacts on Burkina Faso's development.

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