West African Resources Limited (ASX: WAF) just dropped its June 2026 production numbers, and they’re solid. Sanbrado and Kiaka are doing exactly what investors watching the West African Resources gold outlook 2026 Australia have been hoping for.
Figure 1: West African Resources logo [Courtesy: West African Resources]
June Quarter Gold Production Beats Prior Quarter Numbers
West African Resources reported gold sales of 110,737 ounces for the quarter. The average realised price came in at US$4,556 per ounce, reflecting a strong pricing environment for the Company.
West African Resources gold production Australia watchers will note the split between sites. Sanbrado put up 57,608 ounces, Kiaka added 67,571. Neither site is carrying the other, which is exactly what you want to see.
| Metric | Sanbrado | Kiaka | Group |
|---|---|---|---|
| Gold Produced (oz) | 57,608 | 67,571 | 125,179 |
| Gold Sold (oz) | 45,287 | 65,450 | 110,737 |
| Realised Price (US$/oz) | 4,568 | 4,548 | 4,556 |
Table 1: West African Resources June 2026 quarter production summary
| YTD Metric | Sanbrado | Kiaka | Group |
|---|---|---|---|
| Gold Produced (oz) | 99,631 | 133,274 | 232,905 |
| Gold Sold (oz) | 87,716 | 127,167 | 214,883 |
| Realised Price (US$/oz) | 4,766 | 4,729 | 4,744 |
Table 2: West African Resources year-to-date 2026 production summary
This ASX announcement confirms production momentum is building heading into the second half of the year.
Sanbrado Underground Mining Lifts Grade And Output
West African Resources is proving Sanbrado still has more in the tank than the market expected.
Figure 2: Sanbrado and Toega project location map [Courtesy: West African Resources]
Mining Ramps Up At M5 North And Toega
Sanbrado’s owner-operated open pit mining continued its ramp-up through the quarter. The M5 North pit delivered 647kt of ore at 0.9 grams per tonne, producing 17,791 ounces of gold.
Pre-strip activity at the Toega open pit also progressed well. A total of 1,752kbcm of material was moved, a 182 per cent increase from the prior quarter, including first ore from the stage 1 pit.
Figure 3: West African Resources team at the processing plant [Courtesy: West African Resources]
Processing Plant Lifts Output On Higher Grades
Sanbrado’s M1 South underground mined 167kt of ore at 8.1 grams per tonne, good for 43,644 ounces. That’s a 60 per cent jump on Q1, thanks to more tonnes and better grade.
The plant milled 787kt at 2.4 grams per tonne with 93.7 per cent recovery. Output jumped 37 per cent on the prior quarter, mostly because higher-grade underground ore hit the mill.
Kiaka Output Adjusts For Explosives Supply Constraints
Kiaka’s open pit mining saw mined ounces fall 24 per cent versus the previous quarter. This came from an 18 per cent drop in ore tonnes and an 8 per cent decline in mined grade, with mining focused on the Kiaka Main Stage 1 pit.
At Kiaka, the plant remained busy processing 2,487kt of ore to produce 67,571 ounces. The throughput grew 6 per cent, with output seeing a 3 per cent increase also and recovery holding steady at 92.9 per cent.
Figure 4: West African Resources project locations across Burkina Faso [Courtesy: West African Resources]
SOPAMIB Stake Acquisition Progresses In Kiaka SA
West African Resources continues working with state-owned SOPAMIB to finalise its 25 per cent acquisition of Kiaka SA. The deal is valued at 70 billion CFA francs, equivalent to approximately A$176 million.
Kiaka SA owns 100 per cent of the Kiaka Gold Production Centre. WAF owns 85 per cent of Kiaka SA. The Burkina Faso State holds the other 15 per cent.
Permits Are The One Thing Holding Sanbrado Back
West African Resources filed to update Sanbrado’s mine plan for M5 South underground back in 2025. The government hasn’t signed off yet, so first production has slipped to early 2027.
The Company also awaits an operating permit for Kiaka’s explosives facility, built in 2024. A lack of explosives supply reduced open-pit production this quarter, prompting a shift toward free dig mining areas.
Share Price Snapshot
Investors tracking West African Resources (ASX: WAF) will find the share price performance notable against the broader market.
- Last price: A$2.825
- Market capitalisation: A$3.37 billion
- 52 week range: A$2.180 to A$3.970
- Share price up 29% over the past 12 months
- ASX 200 index gained just 3% over the same period
Figure 5: West African Resources share price performance on the ASX [Courtesy: ASX]
This ASX announcement shows WAF has meaningfully outperformed the broader market.
Industry Outlook: Gold Enters The Second Half Of 2026
Gold clawed back 2.3 per cent to US$4,164 an ounce last week, breaking a five-week losing run, per World Gold Council data. That trims its year-to-date loss to 4.7 per cent.
Figure 6: West African Resources share price performance on the ASX [Courtesy: ASX]
The World Gold Council’s mid-year outlook outlines a number of scenarios for gold through the back half of 2026. Softer growth or looser monetary policy could push prices higher, while moderate growth points to range-bound trading.
What This Means For Guidance And Investor Confidence
West African Resources is not wavering on its 430,000 to 490,000 ounce target for 2026. Executive Chairman and CEO Richard Hyde said the Company is on track, supported by two low-cost production centres.
The pending SOPAMIB transaction and Sanbrado’s underground expansion both point toward the West African Resources future growth Australia investors are positioning for. Permitting outcomes in Burkina Faso over H2 2026 will be a key catalyst to watch.
For investors tracking the mining sector and the West African Resources gold outlook 2026 Australia, the narrative now goes on regulatory approvals landing as they should. Production is on track for early 2027 if the M5 permit lands in H2 2026.
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FAQ
Q1. How much gold did West African Resources produce in the June 2026 quarter?
Ans. 125,179 ounces, combined across Sanbrado and Kiaka.
Q2. When might Sanbrado’s M5 South underground begin production?
Ans. It intends to start production in early 2027, pending government approval in H2 2026.
Q3. Why did Kiaka’s open-pit production fall this quarter?
Ans. A shortage of explosives, pending a government permit, reduced open-pit mining at Kiaka.
Q4. What is the SOPAMIB transaction?
Ans. It is SOPAMIB’s planned purchase of a 25 per cent stake in Kiaka SA for approximately A$176 million.
Disclaimer
This article is meant only for informational purposes. If you are an investor watching West African Resources Limited closely, all data published in this content is sourced from ASX announcements and external sources. Kindly verify all information related to share price and market data. Any investment should be made at the investor’s own risk. Colitco does not hold any position in the above-mentioned company.
Source
- https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03108373-6A1332715
- https://www.fool.com.au/2026/07/07/west-african-resources-posts-june-2026-quarter-gold-production-update
- https://www.asx.com.au/markets/company/WAF
- https://www.gold.org/goldhub/gold-focus/2026/07/weekly-markets-monitor-gold-enters-h2
Elizabeth Jones is a finance and mining content specialist with over 10 years of experience creating clear, SEO-driven content across fintech, investing, banking, insurance, cryptocurrency, and resource markets. She transforms complex financial data and industry trends into engaging, reader-focused articles that improve understanding and audience engagement.
