West African Resources Confirms 'Good Standing' Status of Burkina Faso Mining Permits; Shares Surge 8%

MT Newswires Live

Oct 08, 2024

West African Resources (ASX:WAF) confirmed that its mining permits in Burkina Faso are in "good standing," following communications with officials from the country's Ministry of Mines and Quarries, according to a Tuesday filing with the Australian bourse.

Burkina Faso President Ibrahim Traore talked about several topics with Radio Burkina last Oct. 5, including the potential for the government to withdraw mining licenses, the filing said.

However, officials from the regulatory body clarified that the potential revoking of mining licenses relates to companies who violate relevant laws. This does not include West African Resources, whose permits are not being reviewed, as per the filing.

The gold producer's shares surged almost 8% in recent Tuesday trade.

Price (AUD): $1.45, Change: $+0.11, Percent Change: +7.84%

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