West African Resources (ASX:WAF) has reported an after tax profit of $215 million from a total revenue of $477 million in its half year financial report ending 30 June 2025.
The company produced 95,644 ounces of gold over the last half of the financial year, valued at US$1,374 ($2,121) per ounce.
CEO Richard Hyde explains that this return comes from an operating activities cash flow of $159 million.
“West African has delivered another outstanding half year result,” Hyde says.
“Our unhedged resources now stand at 12.2 million ounces of gold and ore reserves at 6.5 million ounces of gold.”
This leaves the company with a cash balance of $279 million, as well as $49 million worth of unsold gold bullion as the close of the financial year.
West African is well-positioned among the growing global demand for the commodity, which has seen a 33.66% increase in value over the past year.
Trading Economics reports gold to be priced at US$3,375.57 per ounce.
West African Resources is an emerging gold producer focused on delivering 4 million ounces across the next decade across its African assets.
Write to Maddison Elliott at Mining.com.au
Images: West African Resources
