Latest research on gold producer @WAFresources $WAF from Argonaut below post yesterday's December quarter results, Buy and $6.40/share target maintained (~66% upside on current share price) 👇

Argonaut released updated research on gold producer @WAFresources this week with a $5.40/share target, following the company reporting its preliminary 1QCY25 results (gold production of 50,033 oz in Q1; confirmed on track to achieve annual guidance of 190,000-210,000 oz in 2025). "Sanbrado delivered another strong quarter with production in line with our estimates plus another quarter of +20koz build in stockpiles," analyst Patrick Streater wrote. "Key short-term catalysts for the company will be an updated 10-year outlook for Sanbrado, along with a successful commissioning of Kiaka later this year." $WAF's share price continues to go from strength to strength 📈 and was included among the top performing #ASX gold stocks this year, as highlighted by @eToroAU below (1/4).

A summary below of the latest research on gold producer @WAFresources, following the company delivering $246m NPAT for 2024. 🔥 Argonaut – $4.50/share target – "WAF’s CY24 results reflected consistent cash flow generation at Sanbrado with a record operating cash flow result of A$251.6m, helping to fund the ongoing construction work at Kiaka. WAF’s CY25 and CY26 outlook remains positive as the group returns to free cash flow generation and benefits from a doubling of its production profile from 207koz to ~480koz by CY26." Canaccord – $3.95/share target – "NPAT of A$246m (PCP: A$165m) was a 10% beat on consensus of A$224m, likely contributing to the outperformance of WAF during trading today (6/3)." Barrenjoey – $2.55/share target – "Among the West African names, we have lifted WAF to our preferred exposure." With Kiaka on track to come online in Q3, $WAF is on the cusp of having two long-life, low-cost gold projects in operation in 2025, which will see the company more than double annual gold production to over 420,000 ounces per year. 📸  Pictured: WAF's Sanbrado Gold Operations in Burkina Faso

Argonaut analyst Patrick Streater increases price target on gold producer @WAFresources from $3.50/sh to $3.60/sh 📈 "WAF’s exploration upside at Sanbrado and across its regional project area is compelling," he writes in the below report. "We see obvious exploration targets below the Sanbrado pit supported by open high-grade intercepts which have a good chance of conversion into a mine plan. We expect strong MRE growth from WAF in CY2025 given the amount of drilling planned." Canaccord also released updated research on $WAF following the company's recent Exploration Day, with a $3.70/sh target: "WAF's exploration session gave an informative overview of the growth opportunities through resource-to-reserve conversion and earlier greenfields targets," analysts Paul Howard & Reg Spencer said. "We believe the resource base and plant capacity alone could underpin 500kozpa for the next 20 years. Further exploration success is added upside, in our view, and we believe presents an exciting opportunity for WAF in 2025 and beyond."

Discussion of gold producer @WAFresources' $WAF quarterly report in the below episode of @MoneyofMinepod 🔊 Watch the full episode here: loom.ly/6QI6wPc