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West African Resources hits net cash

Australia’s lowest cost listed gold producer by some margin, West African Resources, has moved into a net cash position less than 19 months after pouring first gold at the US$200 million debt funded Sanbrado operation in Burkina Faso.

Michael Quinn
Plenty of these being produced cheaply at Sanbrado, Burkina Faso. Pictured are exec director Lyndon Hopkins (left) and company founder and CEO Richard Hyde

Plenty of these being produced cheaply at Sanbrado, Burkina Faso. Pictured are exec director Lyndon Hopkins (left) and company founder and CEO Richard Hyde

Notional net debt decreased by $65 million in the September period and WAF ended the quarter in a positive notional net cash position of $8 million, which included A$130 million of cash on hand and 9,375...

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