Sanbrado’s Underground Dip Poses Challenge Despite Record Group Output
West African Resources has delivered a record 300,383 ounces of gold in 2025, hitting its production guidance for the fifth consecutive year, driven by strong performances at its Sanbrado and Kiaka mines in Burkina Faso.
- 2025 gold production reached 300,383 ounces, meeting guidance
- Q4 production totalled 112,019 ounces with Kiaka’s output surging 208%
- Sanbrado’s underground mining grade declined, impacting Q4 output
- Kiaka’s processing plant ramp-up on schedule, boosting throughput
- Full year gold sales at 280,065 ounces averaging US$3,525/oz
Strong Year for West African Resources
West African Resources Limited (ASX – WAF) has confirmed a standout year in 2025, producing a record 300,383 ounces of gold from its Sanbrado and Kiaka operations in Burkina Faso. This achievement marks the fifth consecutive year the company has met its production guidance, underscoring operational consistency and growth in a challenging mining environment.
The December quarter saw the group deliver 112,019 ounces of gold, with a notable surge at the Kiaka mine where production increased by 208% quarter-on-quarter. This jump was largely attributed to the successful ramp-up of the Kiaka processing plant, which benefited from additional diesel-generated power and stable grid supply, enabling higher throughput and processing of harder, higher-grade ore.
Sanbrado Faces Operational Challenges
While Kiaka’s performance was impressive, Sanbrado experienced a 17% drop in gold production in Q4 compared to the previous quarter. This decline was driven by a 14% reduction in mill throughput due to a planned shutdown and a 16% decrease in underground mined ounces, reflecting a lower grade of ore extracted. Despite these challenges, Sanbrado still contributed 205,228 ounces for the full year, maintaining its role as the group’s primary gold source.
Open pit mining at Sanbrado also progressed steadily, with the commencement of mining at the M5 North pit in Q4. The full year saw 2.25 million tonnes of ore mined at an average grade of 0.8 grams per tonne, yielding over 60,000 ounces of gold.
Kiaka’s Growth Momentum
Kiaka’s ramp-up continued to gather pace, with open pit mining increasing mined ounces by 76% in Q4 compared to the prior quarter. The completion of the ROM pad construction facilitated this growth, allowing mining activities to focus on the Kiaka Main stage 1 pit. For the year, Kiaka mined 6.6 million tonnes of ore at 0.7 grams per tonne, producing nearly 149,000 ounces of gold.
The processing plant’s improved throughput and metallurgical recovery of 92.9% were key to Kiaka’s strong quarterly output of 62,287 ounces. This operational progress bodes well for the mine’s future contribution to the group’s production profile.
Financial Highlights and Outlook
West African Resources sold 280,065 ounces of gold in 2025 at an average realised price of US$3,525 per ounce, with Q4 sales averaging US$4,058 per ounce. The difference between gold produced and sold reflects inventory build-up at Kiaka and shipment timing, a common occurrence in mining operations.
Executive Chairman and CEO Richard Hyde praised the operational teams for their efforts, highlighting the company’s consistent delivery against guidance and record production year. Investors will be keenly awaiting the full quarterly activities report for further insights into operational efficiencies and cost management.
Bottom Line?
West African Resources’ record 2025 output sets a strong foundation, but sustaining growth hinges on Kiaka’s continued ramp-up and Sanbrado’s underground recovery.
Questions in the middle?
- How will Sanbrado address the decline in underground ore grade and throughput?
- What are the cost implications of Kiaka’s ramp-up and increased diesel power usage?
- How might gold price fluctuations impact West African’s revenue and future guidance?
