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| Press Release

West African Resources Announces Successful A$43.2m Placement

Not for Distribution to U.S. Newswire Services or for Dissemination in the United States

SUBIACO, WA / ACCESSWIRE / December 5, 2018 / Gold developer West African Resources Limited (ASX, TSXV: WAF) (West African or the Company) is pleased to announce the success of its fully underwritten share placement to raise A$43.2 million which was announced on 5 December 2018 (Placement).

Highlights

  • West African fully funded through to gold production at the Sanbrado Gold Project (Sanbrado)
  • Underwritten Placement for A$43.2 million
  • Strong support from existing and new institutional shareholders
  • Non-underwritten Share Purchase Plan (SPP) of up to A$5.0 million for West African’s retail shareholders
  • On track for first gold production at Sanbrado in the September quarter 2020

Managing Director Richard Hyde commented:

"We welcome the support from new and existing institutional shareholders for the fully underwritten Placement. We also look forward to retail shareholders having the opportunity to participate in the SPP at the same price as the Placement. Together with the previously announced Taurus Debt Facility, the Placement will ensure West African is well funded to take Sanbrado through to production in the September quarter of 2020."

Click here to view the ASX announcement

SOURCE: West African Resources Limited



View source version on accesswire.com:
https://www.accesswire.com/529836/West-African-Resources-Announces-Successful-A432m-Placement

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