West African Resources Limited (WAF) Earnings Call Transcript & Summary

Hi, everyone. This is Matt Scully, Project Director of West African Resources. In this latest update, the Kiaka Gold Project has continued to progress on schedule and budget in February, on the pathway to first gold production at the project in Q3 2025. On the screen, you can see the primary crusher nearing completion and fully assembled conveyors through to the coarse ore stockpile. Electrical, instrumentation and piping is now nearing completion, ready for commissioning of this dry plant area. The reclaim chamber is now complete and backfilling of this area continues ready for crushed ore. As we move along Conveyor 3, the emergency feed bin is finished and the piping and electrical are advancing at the pebble crusher area. All conveyor belting has been installed. The generator civils on the right of screen are underway and the primary 11kv switch room has been installed. The gravity structure on the left is now complete, and all major mill components are installed. As we hit the back end of the plant, the top of tank steel is all in place, and the elution structure is ready for cladding. The gold room has advanced and the reagents area piping is being reticulated into wet plant areas. The compressor and oxygen shed steel work are now finalized. In the background, the tailings line and decant return line can be seen. Other work fronts are now complete, including the water storage dam, which has been filled. After handover of the heavy-vehicle workshop and mining services area, our mining and operations team have been working hard assembling our own miner fleet of Caterpiller equipment. We finished this update with a snippet of our newly commissioned 6020 Digger and look forward to providing a commissioning update soon as West African Resources moves to becoming a 420,000-plus ounce per annum gold producer in 2025.