The value of electronic waste as an urban mine has been extensively demonstrated, particularly regarding its rich content in precious metals. However, little is known about the economic feasibility in informal recovery contexts like in Burkina Faso. Previous studies were focused on formal and industrialized systems, overlooking informal dynamics in low-income countries. This study addressed that gap by applying a scenario-based Extended Cost–Benefit Analysis to assess metal recovery pathways in Burkina Faso. Six scenarios were modeled, combining technological selectivity, variations in local collection costs, and policy incentives such as Extended Producer Responsibility and eco-taxes as well as socio-environmental co-benefits. Results showed that e-waste recovery in the informal sector became economically viable when technological, financial, and policy instruments were combined. At a reduced e-waste cost of 5 USD/kg, manual dismantling and bioleaching technologies allowed for net benefits of 6.34 and 6.85 USD/kg, respectively, corresponding to improvements of 136% and 133% compared to baseline losses. Even at 10 USD/kg, both methods remained viable with positive returns and benefit–cost ratios above 1.06. It is impossible to generate net benefits with an e-waste purchase price of 10 USD/kg without EPR or eco-tax mechanisms, unless the price is reduced to 5 USD/kg; this could impose enormous constraints on collection activities. These findings confirmed that no single factor is sufficient to achieve profitability, highlighting the need to integrate supportive policies, technological appropriateness, and environmental co-benefits, a combination that aligns with circular economy principles and is essential to unlock the full potential of e-waste recovery in low-income countries.