West African Resources Ltd – Sanbrado Gold Project

Updated mining permit awarded for Sanbrado Gold Project: West African Resources Ltd.’s (ASX: WAF) stock fell 1.43% on July 23, 2018 despite the fact that the Council of Ministers of the Government of Burkina Faso approved changes to the original mining permit for the Sanbrado Gold Project which includes revised mining and ore processing methods given in the latest feasibility study. As per the revised permit, underground mining is included in addition to open pit mining, and approved using the carbon in leach (CIL) processing method. Moreover, the company continues to drill at M1 South and M5 and will release the updated resource estimates and a Scoping Study investigating M5 underground potential by the end of third quarter of 2018. Further, the company expects to appoint a banking syndicate to fund the majority of the project capital requirement by the end of fourth quarter of 2018. Meanwhile, WAF stock has fallen 2.78% in three months as on July 20, 2018.


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