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" .. for valuable paid consideration .."
Turd polishing?
Turd polishing?
WAF - West African Resources
- Thread starter Joe Blow
- Start date
Sean K
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Exactly. And, where's the Junta going to get the cash from? I guess from the taxes they take from WAF, or WAF provide them an interest free loan that gets paid back over the next 100 years. Feeling for anyone who is deep into this at the moment. Anything could happen and probably will.
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It 's the equivalent to those luxury hand bag store invasions in L.A that you see regularly on youtube. Want something - get your homies together and take it, no repercussions.
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Damned, that was one of my system trading last purchase, we were slowly getting back toward green and another hit ..i mean what else...
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^^^
It's not 15% for the Kiaka operation, it's going to be 15% + 35%
Think they'll stop there? What about the other mine and projects?
" ... the trading halt is requested pending the release of an announcement by the Company regarding a request from the government of Burkina Faso to acquire, for valuable paid consideration, an additional 35% of the Company’s subsidiary Kiaka SA"
Not Held
Not being bent over
Dated 27 Aug and it's already outdated.
It's not 15% for the Kiaka operation, it's going to be 15% + 35%
Think they'll stop there? What about the other mine and projects?
" ... the trading halt is requested pending the release of an announcement by the Company regarding a request from the government of Burkina Faso to acquire, for valuable paid consideration, an additional 35% of the Company’s subsidiary Kiaka SA"
Not Held
Not being bent over
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And if you remember, when investing on my own , i got out early recently , avoided the initial bomb and made a nice profit.
I guess this is the price to pay with system trading, and no you should not start to introduce your owb bias in systems execution however tempting
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Debatable imo. System trading has never attracted me personally, but I guess I'm not a trader as I only sell when there's some overpowering reason (or impulse) to do so. But I don't like the idea of anything that's purely mechanical.
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I actually see the beauty of it but on days like this, i steam
Can not say I am surprised...
No real vad deal, it us a bad day anyway for me asx wise, usual when the asx goes up.
Garpal Gumnut
Ross Island Hotel
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You have no idea how many pr0n images came up on a search for "Missionary in Pot". Anyway this is my take on investing in the dark continent. I hold CAY btw.
gg
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Greg's communique today on the WAF swindle.
WAF in trading halt – what to expect
Greg Canavan
Friday, 29 August 2025
2 min
Dear finicky,
Chinese sage Lao Tzu said a lot of smart things. But this one that I read recently really stood out:
‘When the mind distinguishes very acutely between right and wrong, it is about to make a mistake’.
It stood out because I had just sent you an update talking about managing risk by selling down lower-quality positions that had increased sharply in price and adding to companies where the price was still attractive.
Then, yesterday, West African Resources [ASX:WAF] went into a trading halt. The government of Burkina Faso wants to purchase another 35% of WAF’s subsidiary Kiaka SA (owner of the recently constructed Kiaka gold project), taking them to 50% ownership.
At this stage, we don’t know what the purchase price will be. The ASX announcement said it would be ‘for valuable paid consideration’, whatever that means.
What I do know is that the share price will sink when trading resumes on Monday. By how much depends on the terms of the ‘deal’.
Given that we’re up nearly 100% on the average purchase price, our original capital should remain intact. But be prepared for an ugly re-open.
The original capital allocation was 3% of the portfolio. That has now grown to 4.66% thanks to the increase in the stock price. I would have probably re-weighted lower if it reached 5% or more, so without the benefit of hindsight, I wouldn’t have done things differently.
It just goes to show that you can try to manage risk as much as possible, but something unexpected can always bite you.
Having said that, this type of thing was always a risk with WAF. We’ll soon find out just how much of a risk it was.
Thankfully, we’re well ahead on the investment. And we don’t yet know what the terms of the deal will be. It may not be as bad as feared.
It could be the case where you’ll see a big sell-off initially as everyone tries to get out at once, and then a bounce.
I’ll send another update on this when I know more, most likely on Monday.
WAF in trading halt – what to expect
Greg Canavan
Friday, 29 August 2025
2 min
Dear finicky,
Chinese sage Lao Tzu said a lot of smart things. But this one that I read recently really stood out:
‘When the mind distinguishes very acutely between right and wrong, it is about to make a mistake’.
It stood out because I had just sent you an update talking about managing risk by selling down lower-quality positions that had increased sharply in price and adding to companies where the price was still attractive.
Then, yesterday, West African Resources [ASX:WAF] went into a trading halt. The government of Burkina Faso wants to purchase another 35% of WAF’s subsidiary Kiaka SA (owner of the recently constructed Kiaka gold project), taking them to 50% ownership.
At this stage, we don’t know what the purchase price will be. The ASX announcement said it would be ‘for valuable paid consideration’, whatever that means.
What I do know is that the share price will sink when trading resumes on Monday. By how much depends on the terms of the ‘deal’.
Given that we’re up nearly 100% on the average purchase price, our original capital should remain intact. But be prepared for an ugly re-open.
The original capital allocation was 3% of the portfolio. That has now grown to 4.66% thanks to the increase in the stock price. I would have probably re-weighted lower if it reached 5% or more, so without the benefit of hindsight, I wouldn’t have done things differently.
It just goes to show that you can try to manage risk as much as possible, but something unexpected can always bite you.
Having said that, this type of thing was always a risk with WAF. We’ll soon find out just how much of a risk it was.
Thankfully, we’re well ahead on the investment. And we don’t yet know what the terms of the deal will be. It may not be as bad as feared.
It could be the case where you’ll see a big sell-off initially as everyone tries to get out at once, and then a bounce.
I’ll send another update on this when I know more, most likely on Monday.
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My old customer................in and out quite often. Only using this two as my barometer
from MLTE
From Pinnacle
Just a sight seeing post not a financial advise or recommendation. Have a great night everyone !
from MLTE
From Pinnacle
Just a sight seeing post not a financial advise or recommendation. Have a great night everyone !
Sean K
Moderator
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Do you read their announcements?
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Is that important for me?
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yes as any TA can not capture the latest event and its consequences
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No, reading is not important
Sean K
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No, reading is not important
LOL. WAF is likely to re-open (eventually) about 40% down (pending how much the Junta actually steal off them).
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truly every 40 or 50 % I will harvest 1/2 and let the half run if it 5k if it more I normally use something portioned so let see what happen. A good person always wish people well. Take care and see you in other stock
Have a good afternoon everyone
Have a good afternoon everyone
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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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the fun even better
that is enough to sink my rrg system...
discoveryalert.com.au
that is enough to sink my rrg system...
ASX Suspends West African Resources amid Burkina Faso Stake Acquisition
Burkina Faso's bid for 50% stake in Kiaka gold project triggers trading suspension for West African Resources.
discoveryalert.com.au
