Latest news with #WestAfricanResources
News.com.au
16-07-2025
- Business
- News.com.au
West Africa can't be ignored for investors looking to play the gold boom
West Africa has been the best place to explore for gold in the past 15 years And if you can handle the risk, the rewards remain rich according to SCP Resource Finance Many Peaks among the smallest stocks to catch SCP's eye Despite a higher sovereign risk profile, the West African gold space punches well above its weight in terms of discovery and corporate activity. ASX 200 producers Perseus Mining (ASX:PRU) and West African Resources (ASX:WAF) have established themselves among the lowest cost and most consistent gold miners on the ASX, paving the way for others to follow. A new report from SCP Resource Finance analyst Justin Chan described West Africa as the most dynamic region over the past 15 years for gold discoveries, new mine builds, M&A and the emergence of new mid-tier miners. 'What makes West Africa special is the combination of geology, year-round exploration/construction, fast permitting, and 'low-hanging fruit' that enables companies to find and build a mine within one gold price cycle, enabling investors to avoid the 'washing machine cycle' of projects stalling in bad markets or waiting for permits,' he said. 'Moreover, while Africa has its challenges, the silver lining is we think the executives and operators in Africa are serious and driven to achieve a discovery, build a mine, or transact quickly; Africa is no place for 'lifestyle' companies.' Punching above its discovery weight Unlike more mature jurisdictions, Chan pointed out that it was still possible for explorers to find open-pittable deposits with attractive grades, metallurgy and low capital intensity in West Africa. 'The numbers speak for themselves: more than 70 million ounces have been discovered in West Africa from 2010-2024 versus 37Moz in Canada, 30Moz in Australia and 30Moz in the USA over the same period per S&P Market Intelligence,' he said. That's despite West Africa attracting a third of the spend of those other jurisdictions. Major discoveries in recent years include Predictive Discovery's (ASX:PDI) 5.5Moz Bankan in Guinea and Montage Gold's 6Moz Koné project in Côte d'Ivoire, the latter of which is in construction. Last year, Turaco Gold (ASX:TCG) reported an initial resource of 2.5Moz for its Afema project in Côte d'Ivoire just five months after completing the acquisition. The resource has since increased to 3.6Moz. Rapid builds SCP said despite the high rate of discoveries, mine builds had outpaced them over the past 10 years. New builds in the past five years have included West African's Sanbrado in Burkina Faso, Perseus' Yaoure in Côte d'Ivoire, Orezone's Bomboré in Burkina Faso, Tietto Minerals' Abujar in Côte d'Ivoire, Fortuna Mining Corp's Séguéla in Côte d'Ivoire, and Endeavour Mining's Lafigué in Côte d'Ivoire and Sabodala-Massawa in Senegal. Just over two weeks ago, West African confirmed it had poured first gold at its Kiaka mine in Burkina Faso, ahead of schedule and under budget and just 3.5 years after acquiring the project from B2Gold. SCP said the builds had cleared 'two generations' of projects from the development pipeline. 'We think projects that can start building in the 2026-2028 window are in the sweet spot: we think nearly all the Africa focused producers will be or are actively looking for projects within this window, and nearly all of them have built mines recently, thus are not afraid of a buy and build,' Chan said. Deals flowing M&A has also progressed at a frenetic rate. In the past five years, Perseus Mining acquired Orca Gold and Orecorp, Cardinal Resources was swallowed by Shandong Gold, Azumah Minerals was consumed by Ibaera Capital, Oklo Resources was picked up by B2Gold, Chesser Resources annexed by Fortuna and Tietto mopper up by Zhaojin Capital. And that's just on the ASX. In Toronto, SEMAFO merged with Endeavour, Fortuna collected Roxgold, Chifeng Jilong took over Golden Star Resources and AngloGold Ashanti made away with Centamin. SCP expects Perseus to be an active acquirer with its 17.8% stake in Predictive Discovery in focus. Chan also sees West African as a natural acquirer that would benefit from jurisdictional diversification now that its second mine build is done. SCP's other top candidates to be potential predators were Allied Gold Corporation, Robex Resources Inc (ASX:RXR) and Montage, but considered Resolute Mining (ASX:RSG), Orezone, Galiano Gold, Fortuna and the Chinese miners as other potentially active players. Montage, backed by Lundin and Zijin, has recently been busy building stakes in Côte d'Ivoire explorers Aurum Resources (ASX:AUE), African Gold (ASX:A1G) and Sanu Gold. Robex recently listed on the ASX and Orezone last week lodged a prospectus for a $75 million ASX listing, which would loosen its paper to pick up Aussie companies. The next generation 'We think the window is wide open for West African gold explorers, with the gold price consolidating above US$3000/oz, risk capital available for high quality management teams, and a competitive M&A environment for build-ready projects,' Chan said. In the report, Chan initiated coverage on Turaco, with a buy rating and $1.20 price target, and already covers Canada's Newcore Gold, which is advancing the Enchi project in Ghana. SCP expects that Turaco could become one of the next 150,000-200,000oz per annum producers in the region with a resource of 4-5Moz and permits and a final investment decision in hand by the end of next year. 'We also highlight our top picks of the explorers – Sanu in Guinea; Aurum, Awalé and Many Peaks in northern Côte d'Ivoire; and African Gold and Kobo in central Côte d'Ivoire,' Chan said. 'We think these companies have the right combination of ground, quality management and attractive locations to potentially make a discovery and move to production this cycle.' No resource? No worries Many Peaks Minerals (ASX:MPK) has the smallest market cap of the ASX-listed companies mentioned in the report and is the only one yet to report a resource. However, the company has been making rapid progress since acquiring the Ferké gold project from Turaco last year, which has caught the attention of SCP. Chan said the mineralisation at Many Peaks' Ouarigue target is hosted in a tonalite intrusive unit, which is a similar host setting to the multimillion-ounce Bankan and Fekola deposits. 'We like what we've seen so far for two reasons,' he said, pointing to the consistency of the tonalite mineralisation and the high-grade zone. On Tuesday, Many Peaks reported that drilling had extended mineralisation along strike and at depth, with increasing widths of the mineralised zones intersected reinforcing the potential for a bulk tonnage target. New results included 87m at 1.67g/t gold from 221m, including 29m at 3.46g/t gold; and 84m at 1.53g/t gold from 58m, including 2m at 18.1g/t gold and 8m at 2.11g/t gold, including 2m at 7.43g/t gold. On Wednesday, Many Peaks raised $13.5 million in a heavily supported private placement at 72c per share, a 5% premium to the company's 15-day volume-weighted average price. The funds will be used to complete drilling and studies for the preparation of an initial resource estimate. SCP forecasts an initial resource of 300,000-700,000oz of gold at 1-2g/t gold. 'That doesn't include the higher-grade zone – thus we think circa 500,000oz is a good target for an initial MRE at Ouarigue South with potential to expand along strike to the north and south.'
Sky News AU
10-07-2025
- Business
- Sky News AU
ASX 200 surges as Nvidia briefly surpasses $6 trillion market cap and US President Donald Trump reveals further tariffs
The ASX 200 has surged on Thursday, tracking gains in the United States where investors were undeterred by Donald Trump releasing further tariff letters to foreign leaders and a major company soared. The index has jumped 0.6 per cent in the first 40 minutes of trading with gold miners West African Resources and Regis Resources adding 4.9 and 3.5 per cent respectively. Neuren Pharmaceuticals and Pro Medicus have jumped 3.5 and 2.5 per cent respectively as the medical industry remains on watch for the US President's planned levies. Trump has continued to roll out his sweeping trade policy as his 'Liberation Day' tariff suspension came to an end. He revealed 30 per cent levies on Algeria, Libya, Iraq and Sri Lanka. Brunei and Moldova are subject to 25 per cent duties while the Philippines faces 20 per cent tariffs. A surge on Wall Street was boosted by Nvidia becoming the first company to surpass the US$4 trillion (AU$6t) mark after peaking at US$164.42 before settling over the day. It finished up 1.8 per cent on Wednesday and traded with a market capitalisation of US$3.97t at US$162.88 per share. Josh Gilbert, a market analyst at eToro, said Nvidia's "meteoric rise highlights the sheer momentum of this AI boom, which isn't showing any signs of slowing down". "Nvidia has become the heartbeat of the market, making up around 7.5 per cent of the S&P 500 and nearly 10 per cent of the Nasdaq 100. "In the same way Apple symbolised the smartphone era, Nvidia now defines the AI era. "Its last earnings in May solidified its position with continued growth, margins most businesses would envy, and a war chest that gives the company the firepower to keep innovating." Meanwhile, Bitcoin surged to a record high of US$112,000. Mr Gilbert said the new record comes as a wide array of investors adopt the cryptocurrency. 'Institutional adoption is growing, and this is the first real bull market where institutional participation is front and centre,' Mr Gilbert said. 'Publicly traded companies are now adopting bitcoin as part of their treasury strategy, with some making multi-billion-dollar allocations.' 'At the same time, retirement funds and sovereign wealth funds are starting to gain exposure through ETFs, adding to the wave of demand chasing a fixed supply.' The Dow Jones rose 0.5 per cent, the S&P 500 added 0.6 per cent and the Nasdaq jumped 0.9 per cent. London's FTSE 250 Index finished down 0.1 per cent, Germany's DAX rose 1.4 per cent and the STOXX Europe 600 soared 0.8 per cent on Wednesday. Since trading began on Thursday, New Zealand's NZX 50 Index has risen 0.1 per cent while Japan's Nikkei 225 has slumped 0.5 per cent.
Business Insider
30-06-2025
- Business
- Business Insider
Burkina Faso mine delivers first gold pour as Australian firm hits milestone
West African Resources has achieved a major milestone at its Kiaka gold project in Burkina Faso, successfully producing its first gold bar measuring 5.7 kilograms, or approximately 183.3 ounces—during an on-site smelting process. West African Resources achieved its first gold bar production at its Kiaka project in Burkina Faso. The project was completed ahead of schedule and under budget, indicating strong operational efficiency. Burkina Faso has implemented mining reforms to enhance state control and economic benefits. The Australian-listed company confirmed the development came ahead of schedule and under budget, marking a strong start to what is projected to become one of the region's most significant gold operations. According to Miningmx, West African Resources Executive Chairman Richard Hyde described the first gold pour from the Kiaka mine as ' a major milestone ' in the company's goal to produce over 500,000 ounces of gold annually by 2030. ' First gold comes just three and a half years after the acquisition of Kiaka, which is a remarkable achievement,' Hyde said, expressing gratitude to the construction team, financial partners Sprott and Coris Bank, as well as contractors and stakeholders for their contributions. In November 2021, West African acquired a 90% stake in the Kiaka Gold Project in Burkina Faso from B2Gold Corp and its partner, GAMS-Mining F&I. The remaining 10% is held by the Government of Burkina Faso. The company completed construction at the site during the second quarter of 2025, keeping pace with its aggressive project timeline. The inaugural gold pour not only signals the operational readiness of the Kiaka mine but also reflects investor confidence in West African Resources' ability to deliver in one of Africa's most promising, yet geopolitically complex, mining jurisdictions. Burkina Faso's move to secure gold and raise revenue Burkina Faso is reshaping its gold sector through sweeping reforms aimed at increasing state control, boosting revenues, and ensuring that more benefits stay within the country. Gold is central to the nation's economy, accounting for around 80% of export earnings and nearly 14% of GDP. However, much of this value has historically escaped government capture due to foreign ownership, weak regulation, and illicit exports. In July 2024, the government revised its mining code to raise the state's free equity in new projects from 10% to 15%, with an option to acquire an additional 15%. It also mandated greater Burkinabè ownership and shortened permit durations to strengthen oversight. Companies are now required to contribute to national gold and mining development funds, as well as process part of their output domestically to retain more value in-country. The state has also taken over several major mines through SOPAMIB, a new state-owned company, consolidating national control of key gold assets. Additionally, a national gold refinery is being built in Ouagadougou to reduce reliance on foreign processing and improve export transparency. Small-scale export permits have been temporarily suspended to curb illegal trade.
Yahoo
23-06-2025
- Business
- Yahoo
ASX Penny Stocks To Watch: 3 Picks Under A$700M Market Cap
Australian shares are experiencing a challenging period, with the market facing its fifth consecutive day of losses amid global geopolitical tensions. In such uncertain times, investors often look towards smaller or newer companies for potential opportunities, which is where penny stocks come into play. Although the term "penny stocks" may seem outdated, it still captures the essence of investing in less-established firms that can offer value and growth potential when backed by solid financials and a clear trajectory. Name Share Price Market Cap Financial Health Rating GTN (ASX:GTN) A$0.60 A$114.46M ★★★★★★ IVE Group (ASX:IGL) A$2.70 A$416.29M ★★★★★☆ West African Resources (ASX:WAF) A$2.17 A$2.47B ★★★★★★ Southern Cross Electrical Engineering (ASX:SXE) A$1.74 A$460.07M ★★★★★★ Tasmea (ASX:TEA) A$3.20 A$753.99M ★★★★★☆ Regal Partners (ASX:RPL) A$2.06 A$692.5M ★★★★★★ Navigator Global Investments (ASX:NGI) A$1.575 A$771.88M ★★★★★☆ Lindsay Australia (ASX:LAU) A$0.695 A$220.43M ★★★★☆☆ Bisalloy Steel Group (ASX:BIS) A$3.30 A$156.59M ★★★★★★ CTI Logistics (ASX:CLX) A$1.84 A$148.2M ★★★★☆☆ Click here to see the full list of 1,006 stocks from our ASX Penny Stocks screener. Let's explore several standout options from the results in the screener. Simply Wall St Financial Health Rating: ★★★★★☆ Overview: Cue Energy Resources Limited is an oil and gas company focused on the exploration, development, and production of petroleum products with a market capitalization of A$87.39 million. Operations: The company's revenue is derived entirely from its production and exploration activities for hydrocarbons, amounting to A$47.48 million. Market Cap: A$87.39M Cue Energy Resources, with a market capitalization of A$87.39 million, has seen consistent profitability growth over the past five years. Despite recent negative earnings growth of -46%, its short-term assets comfortably cover short-term liabilities but fall short against long-term obligations. The company remains debt-free, eliminating concerns about debt coverage and interest payments. However, its dividend yield of 8% is not well-supported by earnings. While the board boasts experience with an average tenure of 7.3 years, management's experience level is unclear. Trading significantly below estimated fair value may present potential opportunities for investors considering penny stocks in this sector. Click to explore a detailed breakdown of our findings in Cue Energy Resources' financial health report. Review our historical performance report to gain insights into Cue Energy Resources' track record. Simply Wall St Financial Health Rating: ★★★★★★ Overview: HighCom Limited offers specialized products and tailored solutions to military, law enforcement, government agencies, space, and commercial sectors with a market cap of A$30.80 million. Operations: HighCom generates its revenue across several regions, with A$26.37 million from North America, A$22.12 million from Australia and Asia Pacific, and A$7.47 million from Europe. Market Cap: A$30.8M HighCom Limited, with a market cap of A$30.80 million, has recently achieved profitability, marking a significant milestone in its financial trajectory. The company operates debt-free and maintains high-quality earnings while trading at 91% below estimated fair value, suggesting potential undervaluation. Its short-term assets of A$29.8 million comfortably cover both short-term and long-term liabilities. However, the management team is relatively inexperienced with an average tenure of 1.2 years, which may impact strategic continuity. Recent executive changes include the appointment of Mr. Martyn Dominy as CFO to strengthen financial leadership following his successful role at Quickstep Holdings Limited. Get an in-depth perspective on HighCom's performance by reading our balance sheet health report here. Gain insights into HighCom's future direction by reviewing our growth report. Simply Wall St Financial Health Rating: ★★★★★★ Overview: Hearts and Minds Investments (ASX:HM1) is an investment company that leverages the expertise of leading fund managers to invest in high-conviction ideas, with a market cap of A$686.95 million. Operations: The company generates revenue of A$191.25 million from its investment activities. Market Cap: A$686.95M Hearts and Minds Investments, with a market cap of A$686.95 million, operates debt-free and has demonstrated impressive earnings growth of 466.4% over the past year, outpacing the industry average. The company maintains strong financial health with short-term assets of A$754.4 million exceeding liabilities significantly. Despite its high non-cash earnings and stable weekly volatility, its dividend yield is not well supported by free cash flows, raising sustainability concerns. The management team is relatively new with an average tenure of 1.3 years, which might affect strategic consistency despite having an experienced board to guide them through transitions. Click here and access our complete financial health analysis report to understand the dynamics of Hearts and Minds Investments. Evaluate Hearts and Minds Investments' historical performance by accessing our past performance report. Reveal the 1,006 hidden gems among our ASX Penny Stocks screener with a single click here. Ready To Venture Into Other Investment Styles? Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include ASX:CUE ASX:HCL and ASX:HM1. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20-06-2025
- Business
- Yahoo
Top ASX Penny Stocks To Watch In June 2025
The Australian market is bracing for a slight downturn, with ASX 200 futures indicating a -0.2% slide amid geopolitical tensions involving the U.S. and Iran, and mixed economic signals from Europe and Russia. In such uncertain times, investors often look toward penny stocks—an investment area that remains relevant despite its somewhat outdated terminology—for potential growth opportunities in smaller or newer companies. These stocks can offer a mix of affordability and potential when backed by strong financial health, making them intriguing options for those seeking to explore under-the-radar opportunities in the market. Name Share Price Market Cap Financial Health Rating EZZ Life Science Holdings (ASX:EZZ) A$2.31 A$108.97M ★★★★★★ GTN (ASX:GTN) A$0.615 A$117.37M ★★★★★★ IVE Group (ASX:IGL) A$2.72 A$419.37M ★★★★★☆ West African Resources (ASX:WAF) A$2.19 A$2.5B ★★★★★★ Southern Cross Electrical Engineering (ASX:SXE) A$1.71 A$452.14M ★★★★★★ Tasmea (ASX:TEA) A$3.19 A$751.63M ★★★★★☆ Regal Partners (ASX:RPL) A$2.11 A$709.31M ★★★★★★ Lindsay Australia (ASX:LAU) A$0.69 A$218.85M ★★★★☆☆ Bisalloy Steel Group (ASX:BIS) A$3.26 A$154.69M ★★★★★★ CTI Logistics (ASX:CLX) A$1.735 A$139.74M ★★★★☆☆ Click here to see the full list of 1,007 stocks from our ASX Penny Stocks screener. Here we highlight a subset of our preferred stocks from the screener. Simply Wall St Financial Health Rating: ★★★★★★ Overview: Brazilian Rare Earths Limited is engaged in the exploration of rare earth elements and other critical minerals in Brazil, with a market cap of A$571.20 million. Operations: Currently, there are no reported revenue segments for Brazilian Rare Earths Limited. Market Cap: A$571.2M Brazilian Rare Earths Limited, with a market cap of A$571.20 million, remains pre-revenue and unprofitable but has shown significant progress in its exploration activities. Recent milestones include the successful production of mixed-rare earth carbonate and uranium peroxide from the Monte Alto Project, highlighting potential for high-value product streams like NdPr oxide and uranium yellowcake. The Sulista Project has confirmed ultra-high-grade deposits, expanding exploration potential. Despite being debt-free with no long-term liabilities, BRE's management team is relatively inexperienced. However, it maintains a stable cash runway exceeding one year to support ongoing development efforts. Get an in-depth perspective on Brazilian Rare Earths' performance by reading our balance sheet health report here. Assess Brazilian Rare Earths' future earnings estimates with our detailed growth reports. Simply Wall St Financial Health Rating: ★★★★★★ Overview: Rand Mining Limited is involved in the exploration, development, and production of mineral properties in Australia with a market cap of A$120.01 million. Operations: The company generates revenue from its Metals & Mining segment, specifically in Gold & Other Precious Metals, amounting to A$41.11 million. Market Cap: A$120.01M Rand Mining Limited, with a market cap of A$120.01 million, benefits from stable weekly volatility and a seasoned management team averaging 22.4 years of tenure. The company has shown consistent earnings growth over the past five years at 19.5% annually, outperforming the industry average last year with a 16.8% increase in earnings despite a slight deceleration from its historical rate. Rand Mining's financial health is robust, as it remains debt-free with short-term assets covering both short- and long-term liabilities comfortably. However, its return on equity remains low at 8.8%, and net profit margins have slightly decreased to 21.6%. Navigate through the intricacies of Rand Mining with our comprehensive balance sheet health report here. Gain insights into Rand Mining's historical outcomes by reviewing our past performance report. Simply Wall St Financial Health Rating: ★★★★☆☆ Overview: Simonds Group Limited, along with its subsidiaries, is involved in the design, construction, and sale of residential dwellings in Australia and has a market cap of A$59.38 million. Operations: The company's revenue is primarily generated from its Residential Construction segment, amounting to A$644.56 million. Market Cap: A$59.38M Simonds Group Limited, with a market cap of A$59.38 million, has recently become profitable, though its earnings growth rate is difficult to compare due to past losses. The company maintains strong financial health with short-term assets exceeding both short- and long-term liabilities and more cash than total debt. However, its interest coverage ratio remains below ideal levels at 2.9x EBIT. Recent executive changes include the appointment of Rhett Simonds as CEO and strategic board adjustments aimed at enhancing financial oversight. Despite trading significantly below estimated fair value, the company's share price has been highly volatile recently. Jump into the full analysis health report here for a deeper understanding of Simonds Group. Examine Simonds Group's past performance report to understand how it has performed in prior years. Jump into our full catalog of 1,007 ASX Penny Stocks here. Looking For Alternative Opportunities? Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include ASX:BRE ASX:RND and ASX:SIO. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@
