West African Resources LTD WAF.v/WAF.ax/WFRSF +.025 to C$.305
Posted: Monday Aug 15 1:10:28PM 2016
WAF.v/WAF.ax +.015 to C$.37
I bought a few more shares of WAF.v today at C$.365. For some reason there is a difference in price between Canada and main Australian markets. Closed at A$.40 last night while trading around C$.36-.37 in Canada. C$ is stronger by a fraction than A$ but difference between markets is wider than currency difference.
WAF is based in Australia so volume and brokerage coverage is in Australia. Figure Australian market will drive stock price long term so decided to buy the bargain in Canada. Still holding my Australian shares. Catalysts include year end DFS and company expects mining permit in Q4. Also should have resource update after humungeous drill results of up to 1107gm/tonne for 1 meter.
Proposed mine is in Burkina Faso, close to several other operating and proposed mines. This will either become a mine or be bought by a bigger player looking to consolidate in this popular gold mining country.
Posted: Tuesday Aug 2 11:44:20AM 2016
West African Resources Ltd is an Australian junior with the Tanlouka project in Burkina Faso. 409million shares outstanding with another 81million options for a market cap C$149million.
Here is latest company presentation:http://www.westafricanresources.com/wp-content/uploads/2016/08/August-2016-DD-Presentation.pdf
Indicated 670K oz, Inferred 690K oz. Heading for Feasibility Study release in Dec 2016.
This stock has generated some excitement based on the drill results from their M1 deposit. Best result was 1 meter at 1107 g/tonnes~!