West African Resources Limited reported robust operations for the June 2025 quarter from its Sanbrado Gold Operations and the newly operational Kiaka Gold Project. The company generated 45,611 ounces of gold during the quarter, with total sales reaching 49,840 ounces at an average price of US$3,282 per ounce. At Sanbrado, the quarter’s production comprised both open pit and underground mining. The open pit segment mined 409,000 tonnes of ore at an average grade of 0.9 g/t, resulting in 11,795 mined ounces, while the underground operation (M1S) processed 153,000 tonnes at 6.0 g/t to yield 29,320 mined ounces. Despite a modest 13% decline in underground mined ounces due to lower ore grades, overall plant performance remained solid, milling 830,000 tonnes of ore at a head grade of 1.9 g/t and achieving a recovery rate of 92.2%. The company’s year-to-date gold production now totals 95,644 ounces, although the quarter’s aggregate output was 9% lower compared with the previous period, in part due to a scheduled mill shutdown. Production at Kiaka has gained momentum, with the project recording its first gold pour in June 2025, a milestone marking its transition to full-scale operations. The open-pit activities at Kiaka have accumulated 945,000 tonnes of ore with an average grade of 0.6 g/t, equating to approximately 19,200 ounces available for processing. The commissioning of the Kiaka processing plant has been encouraging, as the mill delivered stable throughput and metallurgical recoveries that exceeded expectations. A further ramp-up in throughput is anticipated in the coming quarter with the planned availability of grid power. The production guidance remains unchanged at 100,000 to 150,000 ounces for Kiaka in 2025, while Sanbrado is on track to deliver between 190,000 and 210,000 ounces with sustaining costs below US$1,350 per ounce. In terms of market implications, bullish sentiment may arise from the seamless integration of the new Kiaka project alongside a reliably performing Sanbrado operation, underpinned by strong production metrics and favorable cost guidance. The technical indicators, including high recovery rates and competitive ore grades, support a positive outlook for operational efficiency and profitability. On the other hand, bearish watchers might focus on the slightly reduced underground production and the overall 9% decline in quarterly output, which could signal potential operational headwinds. Additionally, the transition from contractor-led to owner-mining at Sanbrado and the reliance on scheduled power improvements at Kiaka present execution risks that could temper investor enthusiasm in the near term.