West African Resources Limited
West African Resources Limited engages in the mining, mineral processing, acquisition, exploration, and project development of gold projects in West Africa. The company has 90% interests in the Sanbrado Gold project located in Burkina Faso; and Kiaka Gold project located in Burkina Faso. It also holds 100% owned exploration license in the Toega Gold Project located in Burkina Faso. The company wa… Read more
West African Resources Limited (WFRSF) - Net Assets
Latest net assets as of June 2025: $1.46 Billion USD
Based on the latest financial reports, West African Resources Limited (WFRSF) has net assets worth $1.46 Billion USD as of June 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($2.27 Billion) and total liabilities ($806.24 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $1.46 Billion |
| % of Total Assets | 64.43% |
| Annual Growth Rate | 43.77% |
| 5-Year Change | 662.71% |
| 10-Year Change | 41088.63% |
| Growth Volatility | 766.92 |
West African Resources Limited - Net Assets Trend (2009–2024)
This chart illustrates how West African Resources Limited's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for West African Resources Limited (2009–2024)
The table below shows the annual net assets of West African Resources Limited from 2009 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $1.31 Billion | +45.05% |
| 2023-12-31 | $905.83 Million | +22.32% |
| 2022-12-31 | $740.57 Million | +33.58% |
| 2021-12-31 | $554.41 Million | +221.83% |
| 2020-12-31 | $172.26 Million | +132.07% |
| 2019-12-31 | $74.23 Million | -4.54% |
| 2018-12-31 | $77.76 Million | -9.20% |
| 2017-12-31 | $85.64 Million | +843.05% |
| 2016-12-31 | $9.08 Million | +184.68% |
| 2015-12-31 | $3.19 Million | +164.98% |
| 2014-12-31 | $-4.91 Million | -2746.01% |
| 2013-12-31 | $185.53K | -94.49% |
| 2012-12-31 | $3.37 Million | -10.05% |
| 2011-12-31 | $3.74 Million | -57.37% |
| 2010-12-31 | $8.78 Million | +54.90% |
| 2009-12-31 | $5.67 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to West African Resources Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 71903104500.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $716.64 Million | 57.47% |
| Common Stock | $480.38 Million | 38.52% |
| Other Comprehensive Income | $49.97 Million | 4.01% |
| Total Equity | $1.25 Billion | 100.00% |
West African Resources Limited Competitors by Market Cap
The table below lists competitors of West African Resources Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Exail Technologies S.A.
PA:EXA
|
$1.33 Billion |
|
Gränges AB (publ)
ST:GRNG
|
$1.33 Billion |
|
North West Company Inc
TO:NWC
|
$1.33 Billion |
|
Fabege AB (publ)
PINK:FBGGF
|
$1.33 Billion |
|
Orange Polska S.A
PINK:PTTWF
|
$1.33 Billion |
|
Bilfinger SE O.N.
LSE:0NRG
|
$1.33 Billion |
|
Shanxi Taigang Stainless Steel Co Ltd
SHE:000825
|
$1.33 Billion |
|
Bharti Hexacom Ltd
NSE:BHARTIHEXA
|
$1.33 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in West African Resources Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 861,204,000 to 1,246,984,000, a change of 385,780,000 (44.8%).
- Net income of 223,844,000 contributed positively to equity growth.
- Share repurchases of 5,237,000 reduced equity.
- New share issuances of 150,232,000 increased equity.
- Other comprehensive income increased equity by 19,293,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $223.84 Million | +17.95% |
| Share Repurchases | $5.24 Million | -0.42% |
| Share Issuances | $150.23 Million | +12.05% |
| Other Comprehensive Income | $19.29 Million | +1.55% |
| Other Changes | $-2.35 Million | -0.19% |
| Total Change | $- | 44.80% |
Book Value vs Market Value Analysis
This analysis compares West African Resources Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.10x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 33.66x to 1.10x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2009-12-31 | $0.04 | $1.26 | x |
| 2010-12-31 | $0.06 | $1.26 | x |
| 2011-12-31 | $0.02 | $1.26 | x |
| 2012-12-31 | $0.02 | $1.26 | x |
| 2013-12-31 | $0.00 | $1.26 | x |
| 2014-12-31 | $-0.02 | $1.26 | x |
| 2015-12-31 | $0.01 | $1.26 | x |
| 2016-12-31 | $0.02 | $1.26 | x |
| 2017-12-31 | $0.07 | $1.26 | x |
| 2019-12-31 | $0.09 | $1.26 | x |
| 2020-12-31 | $0.19 | $1.26 | x |
| 2021-12-31 | $0.58 | $1.26 | x |
| 2022-12-31 | $0.68 | $1.26 | x |
| 2023-12-31 | $0.84 | $1.26 | x |
| 2024-12-31 | $1.15 | $1.26 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently West African Resources Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 17.95%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 30.90%
- • Asset Turnover: 0.37x
- • Equity Multiplier: 1.58x
- Recent ROE (17.95%) is above the historical average (-520.96%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2009 | -31.56% | 0.00% | 0.00x | 1.11x | $-2.36 Million |
| 2010 | -44.97% | 0.00% | 0.00x | 1.03x | $-4.83 Million |
| 2011 | -145.43% | -3596.94% | 0.03x | 1.22x | $-5.82 Million |
| 2012 | -215.06% | -13142.47% | 0.01x | 1.19x | $-7.58 Million |
| 2013 | -7565.60% | -130391.20% | 0.00x | 37.34x | $-14.06 Million |
| 2014 | 0.00% | -21978.37% | 0.01x | 0.00x | $-7.20 Million |
| 2015 | -244.69% | -3041.14% | 0.02x | 3.65x | $-8.12 Million |
| 2016 | -157.73% | -5580.82% | 0.02x | 1.22x | $-15.23 Million |
| 2017 | -64.39% | -3123.54% | 0.01x | 2.28x | $-29.23 Million |
| 2018 | -8.86% | -873.09% | 0.01x | 1.12x | $-15.06 Million |
| 2019 | -5.60% | -345.04% | 0.00x | 4.40x | $-11.91 Million |
| 2020 | 54.08% | 28.80% | 0.58x | 3.21x | $72.84 Million |
| 2021 | 35.99% | 26.56% | 0.88x | 1.53x | $136.46 Million |
| 2022 | 23.48% | 27.13% | 0.69x | 1.25x | $94.39 Million |
| 2023 | 17.05% | 22.21% | 0.54x | 1.42x | $60.75 Million |
| 2024 | 17.95% | 30.90% | 0.37x | 1.58x | $99.15 Million |
Industry Comparison
This section compares West African Resources Limited's net assets metrics with peer companies in the Gold industry.
Industry Context
- Industry: Gold
- Average net assets among peers: $1,956,755,866
- Average return on equity (ROE) among peers: -68.70%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| West African Resources Limited (WFRSF) | $1.46 Billion | -31.56% | 0.55x | $1.33 Billion |
| Almadex Minerals Ltd (AAMMF) | $14.43 Million | -15.31% | 0.02x | $11.47 Million |
| Allied Gold Corporation (AAUC) | $111.36 Million | -6.66% | 4.92x | $1.61 Billion |
| Aero Energy Limited (AAUGF) | $14.72 Million | -5.86% | 0.05x | $613.34K |
| Abcourt Mines Inc (ABMBF) | $542.08K | -7.78% | 0.16x | $27.58 Million |
| Aben Resources Ltd (ABNAF) | $925.43K | -59.62% | 0.09x | $1.17 Million |
| Advance Gold Corp (ADGCF) | $206.54K | -11.57% | 1.00x | $480.91K |
| Agnico Eagle Mines Limited (AEM) | $19.42 Billion | 10.18% | 0.48x | $105.00 Billion |
| Affinity Gold Corp (AFYG) | $241.37K | -497.12% | 0.10x | $4.68K |
| Andes Gold Corp (AGCZ) | $648.20K | -54.33% | 0.04x | $0.95 |
| Antioquia Gold Inc (AGDXF) | $1.57 Million | -38.90% | 0.28x | $1.44 Million |