West African Resources (ASX:WAF) said it is "not aware of any plans by the government of Burkina Faso to withdraw any of its mining permits" amid fears over the status of its gold mining operations in the country, according to a Monday filing.
The company noted that the government is "supportive" of its position in Burkina Faso on the back of the two parties' "constructive and open dialogue" concerning the new mining code announced earlier this year.
Further, it said operations at Sanbrado and construction at Kiaka are progressing without delay. The company is on track to achieve its annual guidance of 190,000 to 210,000 ounces of gold at an all-in-sustaining cost of less than $1,300 per
ounce. It also expects to produce 4 million ounces over the next decade, with annual production set to peak in 2030 at 494,000 ounces of gold, the filing stated.
It is monitoring the situation on the ground and will further provide updates when necessary, the filing added.
West African Resources requested a trading halt following a 25% fall in shares earlier in the day. The company was down 19% in the most recent trade.
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