ASX-listed unhedged gold mining company West African Resources produced 56 595 oz of gold at its Sanbrado gold operations in the first quarter.
The gold produced, from 844 000 t of ore milled at a head grade of 2.2 g/t and recovery of 93.9%, was in line with output in the quarter ended December 2023.
Underground mined ounces increased by 22% quarter-on-quarter, with 105 000 t of ore mined from M1 South at 8.1 g/t for 27 484 oz of gold.
Openpit mined ounces decreased by 59% quarter-on-quarter, with 555 000 t of ore mined at 1.2 g/t for 21 941 oz of gold.
The decrease is in line with the mine plan and reflects reduced ore tonnes from the planned completion of mining at the M5 South openpit.
Contained gold in ore stockpiles decreased by 10 823 oz in the quarter.
Gold sold during the quarter was 49 509 oz at an average price of $2 078/oz, while bullion awaiting settlement at the end of the quarter increased by 8 982 oz to 12 126 oz.
The company says it is on track to achieve full-year guidance of 190 000 oz to 210 000 oz of gold at an all-in sustaining cost of less than $1 300/oz.
“Sanbrado delivered another solid quarter of gold production, with our process plant continuing its steady performance and the high grade of ore from the M1 South underground reconciling well to the reserve model,” says CEO and executive chairperson Richard Hyde.