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WAF - West African Resources

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These guys are printing money. Just a matter of whether the red berets allow them to keep doing it or not. When they see these results they might think they're being left out a bit. WAF might be better off not telling anyone they're making a quarter of a billion after tax.


 
Wow, smashed through all time High, @2.115 now.
Normally I would cash and take the profit, but really have nothing else where I want to put the money, and there is no reason why it cannot go higher.
Will start to worry if it gents into the 2.30 territory.
Mick
 

Looks like they're finally being recognised for the rise in POG and kicking goals. Imagine when Kiaka is fully operational and they're producing 400K oz @ $4K gold. The spectre of the red berets still loom.
 
WAF had an investor presentation day, and below is the money slide.
They have already been making good cash flow.
Staring this year, gold production will double.
Down 8% today, but long term looks very nice thank you.
Mick
 
mullokintyre said:
WAF had an investor presentation day, and below is the money slide.
They have already been making good cash flow.
Staring this year, gold production will double.
Down 8% today, but long term looks very nice thank you.
Mick
View attachment 195081
Click to expand...

Looks like they'll need to buy another mine around 2031 or earlier. They'll probably be able to pick up a 200K pa producer with cash by then.
 
WAF issued a resource estimation and scoping stufy for an underground extension t the Sombrado mine.
Not huge, but at todays price adds around 24 million a year.
Still potential for further mine extension with drilling.
Won't do stock price any harm.
Mick
 
Reading through the notices to ASX, and I see that Morgan Stanley has hoovered up over 5% of WAF since November last year, and Mitsubishi Financial has increased its stake from 5 to 7%.
Mick
 
I sold it all at $1.50 ish thinking I was very smart making a 42% profit. Crying in my beer.

Ave buy price was about a dollar. Maybe selling half would have been smarter. Was just a bit worried about Coup Central.

 
Gotta be impressed with the management of this company. On time, on budget, do exactly what they say they will do. Very impressive.

Not sure why the SP is off so much on this news. -6%. Must be just the drop in USD POG.

 
They're all off! GDX was down 7.4% overnight. RMS was down 9% last I saw.
Great gold mine developing company.
 
This underground load just keeps getting better. Quite incredible, Swan-like, almost.

 
WAF has taken the preemptive step and decided that it was better to align all of its mines/deposits.
WAF management have taken a leaf out of the books of B@Gold and settled these issues straight away, in comparison to others like Barrick who have resisted the Burkino Faso government and find them selves in no man's land.
It effectively means that the government increases their free stake from 10 to 15%.
The market reaction was swift and WAF got punished.
There was also a less published news item where there are plans for WAF to be removed from the GDX Index.
This is also a negative for WAF, as those who follow index will need to sell to rebalance.]For this reason, I have exited the remainder of my WAF.
My TSX holding of orezone will follow for similar reasons.
Mick

That has caused some dumping
 
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WAF was one of our best plays over the past couple of years. If only they had those deposits in WA, not WAf.
 
First gold pour at Kiaka, ahead of schedule. Who does that?



Although, I'm not really sure what they've poured is actually gold. Looks like an 80s house brick.

 
WAF cracking ATHs. Would be even better if they weren't handing over an extra 5% to the Junta.

Selling this at $1.47 for a 40% gain last FY was a brilliant move. Well done Sean.


 
It was the wise move. I was even wiser. Controlled my emotions impeccably. I hate African juntas.

Not Held
 
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