West African Share Discussion Threads

[someuwin] 03/8/2012 11:34

50k buy moves it up.

[longsight] 02/8/2012 10:01

In the absence of any geological data whatsoever - or even any news on the drilling campaign which shareholders were told wd begin last month - WAFM is a game played between consenting adults.

Most strange is that this is the time when finally we are getting some clarity on the Hanlong / SDL situation [see AFF's reaction] yet WAFM's shares have plunged on these developments. I think that this might betray anxiety that we are getting to the business end of things i.e. those with resources are reserving their capacity on the new railroad. Where this leaves WAFM, I don't know - but I think they are going to have to pull their finger out & actually start drilling & putting together a resource. If things go well & they have the drills [AFF have 7 drill rigs] & they are lucky then I guess they might get a first resource out in say 7 - 8 months time (allowing for assay results to come back from the labs). Whether this will be quick enough, I don't know. I thought it was a bit ominous that the CEO spoke about using lorries [1mt - 2mt pa max?]

[deltrotter] 02/8/2012 09:09

shorters buying the value?

[theprovosts] 02/8/2012 09:06

how are the rampers feeling?

Still targeting 90p?

[someuwin] 27/7/2012 09:47

..Quite possible.

Mostly buys so far today...

[oldvic] 27/7/2012 09:43

i would have said with a fair wind this should exceed 93 p on this leg up
what do you think

[someuwin] 27/7/2012 08:55

Steady stream of 10k buys pushing it up.

[shavian] 26/7/2012 19:01

Here's the story about Wea-Jue Hill Mining Company, which it seems goes back to 2009. WHMC had its licence revoked at one stage and was in dispute with Mano River, so this did not crop up overnight. ISTM that this has had the potential to seriously disrupt AUE entire project, as WHMC is a largely indigenous company with quite a lot of pull. I think DR and the BOD have moved decisively, if somewhat expensively, to do what they had to do to clear the way ahead.

I agree with LS that this is significant and beneficial. let's se how it goes down in Toronto.

Edit: Ooops. Wrong thread. This was supposed to be on AUE. Sorry.

[someuwin] 26/7/2012 15:38

Yes, can sell 2.5x as many as can buy so upward momentum should continue.

[deltrotter] 26/7/2012 15:22

Yup, look at that volume spike at 9am. I think it was the insti's buying in big.

Pile in guys. This one is a baloon heading skywards!!!!!!!!!

[someuwin] 26/7/2012 15:19

Yes, i find it helps to see the trades on the volume chart.

[deltrotter] 26/7/2012 15:12

That's the way someuwin - stick in a chart in! Lets get technical everyone! BUY!!!!!!!!!!!!!!!!!!!!!!!!

This rocket ship i sheading to the moon!

[arf dysg] 26/7/2012 10:16

longsight, try Isaac Newton:

I can predict the movement of the heavenly bodies but I cannot predict the madness of crowds.

[effortless cool] 26/7/2012 10:16

Some interesting background on Mr Dattels.

[oldvic] 26/7/2012 09:43

i notice mr/mrs 13000 trade is back

[longsight] 26/7/2012 09:16

You can see why I have never shorted this - I can bark on about fundamentals - or rather the total absence of them - as much as I like but I can not guess at the behaviour of crowds.

someuwin - if you acvtually know something about the Co's prospects, it wd be helpful if you cd post something on this & what you anticipate the update will be about.

[someuwin] 26/7/2012 08:47

Stock is so tight that the imminent update could easily push this up to a new high.

[someuwin] 26/7/2012 08:06

I expect this to be back over 80p before too long.

[monkeymagic3] 25/7/2012 15:35

monkeymagic3
10 Jul'12 - 17:01 - 242 of 338 edit

Sell down to 20's. Easy money.

monkeymagic3
12 Jul'12 - 09:16 - 257 of 338 edit

So we all agree, WAFM is all puff and nonsense?

monkeymagic3
13 Jul'12 - 09:33 - 274 of 338 edit

Short.

I love it when a plan comes together!

[longsight] 25/7/2012 15:07

I wd also suggest checking out Legend. They are also very close to the Coast in Cameroon. Legend made lots of exciting noises about DSO at their licence & then when the results came thru they were pretty disastrous.

WAFM have lots of licences & sq km but so do many others including priv cos almost no one has heard of. You can understand why I'm cautious on talk until I see actual independently verified data. Thus far nobody has found commercial DSO near the Coast as far as I'm aware. Maybe WAFM will be different - who knows. AFF also have a big licence, Ntem, near the Coast & right next to the rail corridor where they have drilled for DSO [results due out by end of this Q3]. AFF refuse to give any guidance until the assays have been reported on by the labs [they never do] - but I'll give you a little hint: SDL tried to buy the IO rights to Ntem but were thwarted by AFF. Why did SDL want Ntem given their huge DSO at Mbalam? I can only guess - but AFF will never talk up anything, so we will see.

[longsight] 25/7/2012 14:36

Allotment - it is true I am not short. I have in fact never shorted a share. I did think of shorting WAFM at 30p & then at above 50p & so on. Never did, fortunately since I wd have thus far lost a packet - though I was pretty certain that 90p+ was quite insane.

If I have an ulterior motive I admit that I wd like some of the PIs on here to look at AFF which I think looks like compelling value, dyor etc.

"Some believe indeed it might have enough resource to become one of the larger global iron ore suppliers. As they believe they may have uncovered a huge supply of high grade DSO in the block of land that is closest logistically to the route to market. This could equate to a $1 to $2 billion market cap." Look, you may very well be right on this - I don't know. All I am saying is that WAFM are failing to provide any basic info to the market for reasons best known to themselves. Check out Aluvance - also in Cameroon - & though there are unlisted priv Co, & very early stage, they provide lots of info on their initial exploration activities.

I am sure I am irritating as hell, so it was gracious of you to apologise.

My questions are completely legitimate - check out Aluvance & compare & contrast.

[allotment] 25/7/2012 14:20

Longsight the fact that they managed to do a placing at 55p in this climate with one investor who now has 5.7% of the company may well imply that said client did a site visit and did his own research and realised the long term potential value here.

Some believe indeed it might have enough resource to become one of the larger global iron ore suppliers. As they believe they may have uncovered a huge supply of high grade DSO in the block of land that is closest logistically to the route to market. This could equate to a $1 to $2 billion market cap.

Everyone thought African minerals/Frank Timmis was a pile of cack until the chinese came in and it went from a low of 20p to a high of £5....I sadly sold out way too early but I dont intend to here......Not sure what its worth at this precise point in time but I remain hopeful it will be clsoer to £5 than 55p in time

Appologies if I was rude and you are not shorting but you certainly were doing a grand job at deramping..........

The drilling was delayed by two weeks but is due to start shortly since you asked


Stephen Dattels, Executive Co-Chairman of the Company commented:

"West African Minerals is delighted to complete the placing with Panetta Partners Limited. The additional funds will be used to expand and accelerate the second phase of the Company's work programme in Cameroon, and the price and size of the fundraising show clearly that the enormous potential of the Company's assets is beginning to be recognised by the wider investment community."

[longsight] 25/7/2012 14:12

Has anyone actually contacted the Co to find out if they have started drilling & if so where or how much the drilling they intend to do & over what time. I really thought we might get at least a RNS on this. I looked at the Co website & there is no corporate presentation at all - just some interview with a guy pumping the Co.

Another question - are there really no shareholders on here who know anything whatsoever about the Co's activities? It seems so!

I am not saying WAFM is a scam - but I might think so if the Co continues to provide zero info whatsoever on its activities.

I think there was that investagative article that said that Dattels was being investigated in a number of countries but I was told to ignore that stuff. I assume he is straight - but if I had never read that article I wd still be very anxious about the Co's strange reluctance to provide info on its activities.