With prevailing economic uncertainty, investors are flocking to safe havens. This is driving them to gold investing and gold mining company’s stocks.
Two of ASX best gold stocks are
West African Resources (ASX: WAF)
West African Resources (ASX: WAF), on 8 April 2025 declared its gold production of 50,033 ounces in the March 2025 quarter, aligning well with its annual guidance of 190,000 to 210,000 ounces for the year. The company sold 48,338 ounces at an impressive average price of US$2,832/oz. Mining activity remained stable, with 1.545 million tonnes of ore extracted from open pits at a grade of 0.8g/t, yielding 40,788 ounces. Underground operations saw a 7% increase in gold ounces, with the M1S underground contributing 149kt of ore at 7.0g/t for 33,670 ounces. Ore stockpiles also grew, adding 20,600 ounces during the quarter. The Sanbrado processing plant-maintained efficiency, with 857kt of ore milled at a head grade of 2.0g/t and 92.9% recovery.
The Toega underground project delivers with a maiden Mineral Resource Estimate of 4.9Mt at 3.5g/t, totaling 560,000 ounces of gold. The US$42 million pre-production capital estimate reflects a relatively low-cost path to development. The resource remains open at depth, with plans for infill and extensional drilling. A secondary crushing study is also underway to increase Sanbrado’s throughput, with potential to raise annual production to around 300,000 ounces. Results will be included into the updated 10-year plan expected in late Q2 2025.
WAF’s long-term plan is focused on transforming into a sustainable 500,000oz per annum producer by 2030. The 10-year production plan forecasts an average of 420,000oz annually between 2024–2033, and 480,000oz annually between 2026–2031, with total output of 4.2 million ounces. This is based on 83% Ore Reserves at a conservative gold price of US$1,400/oz. These initiatives aim to boost resources, increase mine life, and reduce costs, supporting WAF’s production and sustainability objectives.
Regis Resources Ltd (ASX: RRL)
Regis Resources Limited (ASX: RRL), on 7 April 2025 announced a strong operational and financial performance for the March 2025 quarter and the first half of FY25. In the March quarter, gold production reached 89.7 thousand ounces, while the first half of FY25 saw a total production of 195,801 ounces. The company sold 197,690 ounces of gold and earned an average of $3,932 for each ounce. This brought in a total of $777 million in gold sales revenue. The all-in sustaining cost (AISC) was $2,403/oz, reflecting the company’s ongoing efforts to maintain operational efficiency. First half EBITDA for the company is reached $359 million, a 46% EBITDA margin, with a statutory net profit after tax of $88 million.
The company produced record cash flows in the first half of FY25, improving by $234 million. As of 31 December 2024, the company held $529 million in cash and bullion, even after allocating $78 million to investing activities and $27 million to exploration. An additional $5 million was spent at the McPhillamys Gold Project. After accounting for liabilities, the net cash and bullion position stood at $229 million. In early 2025, the company paid off its $300 million loan earlier than planned. After that, it set up a new $300 million backup credit facility, which it hasn’t used yet. This gives the company more financial flexibility for the future.
The company strong foundation of its balance sheet provide liquidity and continued its FY25 guidance. The company arranged the new credit facility on terms that work in its favor, giving it extra support to fund upcoming projects and expansion plans. With a strong cash generation profile and no debt, the company is well-positioned to evaluate capital management opportunities. Additionally, Regis initiated formal legal proceedings regarding a government protection declaration over a section of the McPhillamys Gold Project, seeking a court ruling on its validity.
(Source: Company's Report)
Veye Pty Ltd(ABN 58 623 120 865), holds (AFSL No. 523157 ). All information provided by Veye Pty Ltd through its website, reports, and newsletters is general financial product advice only and should not be considered a personal recommendation to buy or sell any asset or security. Before acting on the advice, you should consider whether it’s appropriate to you, in light of your objectives, financial situation, or needs. You should look at the Product Disclosure Statement or other offer document associated with the security or product before making a decision on acquiring the security or product. You can refer to our Terms & Conditions and Financial Services Guide for more information. Any recommendation contained herein may not be suitable for all investors as it does not take into account your personal financial needs or investment objectives. Although Veye takes the utmost care to ensure accuracy of the content and that the information is gathered and processed from reliable resources, we strongly recommend that you seek professional advice from your financial advisor or stockbroker before making any investment decision based on any of our recommendations. All the information we share represents our views on the date of publishing as stocks are subject to real time changes and therefore may change without notice. Please remember that investments can go up and down and past performance is not necessarily indicative of future returns. We request our readers not to interpret our reports as direct recommendations. To the extent permitted by law, Veye Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss, or data corruption) (as mentioned on the website www.veye.com.au), and confirms that the employees and/or associates of Veye Pty Ltd do not hold positions in any of the financial products covered on the website on the date of publishing this report. Veye Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services.
