Australian (ASX) Stock Market Forum

WAF - West African Resources

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StockyGuy said:
It's unclear to me whether you're saying WAF, IN PARTICULAR, has been the best vehicle for your strategy? It seems somewhat random. Not arguing the point, though. There can be weird correlations over time for certain stocks and futures - like some seem to respond to lunar phases, at least for a while. Will you still trust the mechanics of your strategy on this one once trading eventually resumes. Or would the sovereign risk now make it untouchable?
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not at all. WAF is like any other stock within my portfolio. that I harvest in a portion recently. it is just a tool for me to make money. never fall in love to any stocks. This WAF guy is just a regular an in and out for me. So, when you talk about the best performer, please have a look on my post from alphabetical order in this forum regarding the stock. When I get bored after coding I will randomly post one or two of my holdings. then you will know what I got in my basket.

Do you know the meaning of outlier? the answer for your question would be within your reading if you find the meaning of an outlier. would you consider 1 small out performer or single bad egg as a representation of your whole TS? Good luck with your reading.

Have you code your risk management? than again this is up to you to do the research Back to WAF so 1 small position within my portfolio will effect the entire balance. Come on ! if I use a panic mode like NT I will still on a surplus. Always be positive it also reflect what type of quality we have :)

Take care
 
frugal.rock said:
I never got past the name.
Too much sovereign risk in that alone.
I'm not racist, it's just too unstable in the political arena, not to mention other countries governments greasing palms.
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Well @frugal.rock , you managed to encapsulate in 3 sentences what I decided not to post in 3 overly long paragraphs which would have been agony for my fellow members to read and I'm not racist neither. Thanks mate.

gg
 
Garpal Gumnut said:
Well @frugal.rock , you managed to encapsulate in 3 sentences what I decided not to post in 3 overly long paragraphs which would have been agony for my fellow members to read and I'm not racist neither. Thanks mate.

gg
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the worst is that i am the first to agree yet got caught due to system trading.
in the scale of things and after the last 2 days, peanuts even if a full loss, but still very frustrating.
wait to see if we get 40c in the dollar or less vs last SP
 
I'm a believer in system trading, however I don't feel that they have the macro smarts that human intervention have.
The use of a few external entry FA rules and a modicum of intervention I feel could provide better results.

What's a few entries not taken, or a few earlier or later exits going to hurt based off other methods of trading, IE, Wyckoff, order book monitoring, news flow, world events and sentiment etc
 
Excerpt from Greg Canavan's communique today:

"Awaiting West African Resources update
West African Resources [ASX:WAF] remains in a trading halt/suspension at the time of writing. I’m hearing that the government meant this to be a confidential request. They wanted to see if WAF was interested in selling a further interest in Kiaka on commercial terms.

But CEO Richard Hyde received the request via email. Under the continuous disclosure rules, he had no option than to make the request public and put WAF into a trading halt.

The consensus opinion is that the government is demanding 35% more of the Kiaka gold mine at a price it names. But that’s not the situation I’m hearing.

This is why the stock remains suspended. There is a negotiation taking place, not a ransom.

So while I’m sure many will dump the stock as soon as WAF trades again, let’s see the details of the announcement before acting."

Fat Tail Investment Advisory
Tuesday, 2 September 2025
Wollongong, Australia
By Greg Canavan

​
​
greg-canavan-front-96w.png

Greg
Canavan
 
for a petty loss that is not even 1 % of portfolio heat, you guys are start panicking. Have you got your stop loss and have you put your whole eggs into one basket? or have you ever experience divorce like me where your ex try to take 80% of your ownership and you have to even fight for a small kitchen gadget? Now that has got no stop loss! that's what I called as a panic. Gotta Move on !
 
@bettamania
Allow me to introduce you to this guy's channel and the illustrious thread below



www.aussiestockforums.com

Am I The Only One That HATES Feminism?

I know there a post that Julie made directly related about feminism but I thought this one could be purely dedicated to people against extreme feminism. More specifically the double standards, the social hierarchical construct, rape culture and all that nonsense. Don't get me wrong. I'm all...
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Solicitation huh? Wonder how the company would fare if it answered a flat no? They'll take as much as they can without driving foreign capital away. It's AVOID imo.

"In the case of West African Resources, the government addressed a letter to solicit the opening of participation up to 35%,” Sagnon said. “For the moment, it is a solicitation – it is not forcing.”
Sagnon stressed that the measure was intended to strengthen confidence in the sector, rather than deter foreign capital." Lol.

And note, according to the 'code', that they can take 30% (above the 15% free carried equity) purely by reimbursing early costs - not market value. How nice for them to take a major stake for just a fraction of costs after the project is proven and risk removed. And it says nothing about all the other costs such as the small matters of building the mine and plant and providing security.
"The paid portion is linked to exploration and feasibility costs rather than the mine’s market valuation."

The mafia calls it a protection racket.
"“We believe that if the State is in the participation of the company, there will be more confidence to stay in the country and make more investment,” he said."






"
 
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finicky said:
Solicitation huh? Wonder how the company would fare if it answered a flat no? They'll take as much as they can without driving foreign capital away. It's AVOID imo.

"In the case of West African Resources, the government addressed a letter to solicit the opening of participation up to 35%,” Sagnon said. “For the moment, it is a solicitation – it is not forcing.”
Sagnon stressed that the measure was intended to strengthen confidence in the sector, rather than deter foreign capital." Lol.

And note, according to the 'code', that they can take 30% (above the 15% free carried equity) purely by reimbursing early costs - not market value. How nice for them to take a major stake for just a fraction of costs after the project is proven and risk removed. And it says nothing about all the other costs such as the small matters of building the mine and plant and providing security.
"The paid portion is linked to exploration and feasibility costs rather than the mine’s market valuation."

The mafia calls it a protection racket.
"“We believe that if the State is in the participation of the company, there will be more confidence to stay in the country and make more investment,” he said."
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Wise words @finicky

The junta in Burkina Faso has made no bones about what they want from WAF. The lot. As much as they can get away with initially but eventually the lot. Sagnon and his team will no doubt stop off at Singapore on the way back to West Africa for some shopping off the dime of the shareholders and workers of WAF.

They have already, unilaterally, moved the goalposts up to 35%, and any redress from WAF will be through courts in BF where the junta not only decide contentious matters but can make new laws willy nilly.

If I were WAF I'd get out and take very last nut and bolt with me that I could. Without Western expertise they will be back to using children, pans and sieves within 6 months,

1757193081842.png


gg
 
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qldfrog said:
the only positive is the wording is more moderate than some previous such takeovers.
How much cents in a dollar will be left to shareholders, and will the shares be locked untraded for months/ years until lawyers and liquidation scrap any cent left..
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Another good reason to stay well and truly clear of putting any coin into Africa and others with dubious leaders.
 

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