West African Resources (ASX: WAF) reached a new operational milestone in the June 2026 quarter, reporting record production of 125,179 ounces of gold from its Burkina Faso assets. The result puts the company on an annualized run-rate exceeding 500,000 ounces. This performance, achieved at an all-in sustaining cost (AISC) of US$1,730 per ounce, keeps the group on track to meet its 2026 annual guidance of 430,000 to 490,000 ounces at an AISC below US$1,900 per ounce. The company ended the period with a robust cash and bullion position totaling roughly A$1.12 billion.

Operations at the Sanbrado gold production center contributed 57,608 ounces to the quarterly total, marking a 37% increase over the previous quarter. This growth was driven primarily by stronger output from the M1 South underground mine, where both ore volumes and grades improved. Simultaneously, the Kiaka production center performed steadily, generating 67,571 ounces of gold. Higher mill throughput at Kiaka proved critical, as it offset a marginal decline in mined ounces from the operation's open pit. Management noted the successful progress of pre-strip mining activities at the Toega open pit, which saw significantly increased material movement.

"With a record high quarterly gold production of 125,179 ounces in Q2 2026, WAF has achieved a run-rate of over 500,000 ounces per annum from our two large low-cost gold production centres of Sanbrado and Kiaka in Burkina Faso."

"WAF is on an exciting growth trajectory, and we continue to create value through the drill-bit with a US$20 million exploration budget and more than 100,000 metres of drilling planned at our Sanbrado and Kiaka production centres and surrounding exploration areas in 2026."

— Richard Hyde, Executive Chairman and CEO

Looking ahead, the company maintains a busy schedule regarding both exploration and corporate activities. Having already identified encouraging results from the M5 underground area, the team is preparing to release further data from the Toega underground drilling program during the third quarter of 2026. These activities form part of a broader commitment to the company’s 2026 exploration program, which targets a total of 100,000 meters of drilling across its primary production hubs to support future resource development and potential mine life extensions.

Beyond operational and exploration work, the company remains engaged in structural and regulatory discussions. Management is currently in ongoing talks with Société de Participation Minière du Burkina Faso (SOPAMIB) regarding the state entity’s potential acquisition of a 25% interest in the Kiaka SA project. As the company continues to stabilize its combined production profile from its two key assets, investors are watching the progress of this shareholding transition alongside the upcoming drilling updates. The absence of any significant safety or health incidents during the quarter further supported the company’s operational consistency as it navigates these ongoing development and corporate processes.

Read the full announcement: Quarterly Activities Report