West African Resources Remains Undervalued Despite Promising Burkina Faso Results, Says Euroz Hartelys

MT Newswires Live07:39

West African Resources (ASX:WAF) remains "materially undervalued" compared with its peers, Euroz Hartelys said in a note on Monday, citing a compelling value after the gold producer posted strong drilling results from its Burkina Faso operations.

The company reported high-grade extensions at its Sanbrado M5 and M1 North diamond mines, boosting confidence in potential mine life extensions.

It is now expected to provide a new 10-year production outlook in the second quarter of calendar year 2026.

West African Resources remains unhedged for full good price exposure, standing to benefit if the current strong gold prices continue to rise.

Analysts at the investment firm said the robust 2025 production result of more than 300,000 ounces is only the beginning of a sustainable 450,000-ounce to 550,000-ounce profile in the years ahead.

Euroz Hartelys maintained its speculative buy rating and price target of AU$5.65.

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