Euroz Hartleys FY21 lowest CAIC award: WAF

We would like to congratulate the entire West African Resources team on winning the Euroz Hartleys inaugural FY21 lowest CAIC award. Looking forward to increased cash generation in FY22.

CAIC takes into account all costs, with the exception of capital expenditure on new production centres (processing mill), adjusting for equity raised and dividends paid. The CAIC metric allows investors to identify the truly lowest cost operators in the industry, although we note that it is important to look at the CAIC metric over a period of time as it smooths out the investment cycles and gives a better indication of operational performance. Though we stress that successful producers find the balance between sustaining profitable operations, investing in future growth and rewarding shareholders.