8/1/2014 - 11:45 AM EST - West African Resources Limited : reported activities on its 100%-owned gold and copper-gold projects in Burkina Faso, West Africa, for the quarter ending June 30. Base case is stated on a pre-tax basis assuming 100% project at a gold price of $1,300/oz. All amounts are in US dollars unless otherwise stated-- IRR of 57% with a 16 month payback on capital costs; Free cash flow of $103 million after capital costs; NPV5% of $84 million; Pre-production capital of $35 million plus working capital and contingency of $9 million; Estimated average annual gold production of 59,400 ounces for first three years; Estimated average annual gold production of 44,100 ounces for life of mine; Current study mine life of 5.4 years. West African Resources Limited
shares V.WAF are trading up $0.005 at $0.14.