West African Share Discussion Threads

[oldvic] 10/12/2012 14:28

50k trade at 63pence ?

[longsight] 06/12/2012 12:49

Having found no DSO or indeed much of anything at Minga, they are now drilling at a licence approx 500km in land. If SDL get to build the railroad then if WAFM find DSO at this licence they will be able to ship from earliest 2017 / 18.

Since there is loads of currently stranded DSO at Mbalam, who needs more from the same area?

It is one thing that the drilling results were a total disapointment. It is quite another that the Co put the spin on it that they did. This has unfortunately confirmed my worst suspicions. Total spivs

[deltrotter] 06/12/2012 12:09

Someuwin - why did you remove your post??

;-)

[j1nxed] 06/12/2012 12:08

@Noirua

that has nothing to do with anything, you have claimed that WAFM had found DSO (direct shipping or or dig and ship or) which was wrong. The company set out to find DSO but ended up finding extremely narrow intercepts of low grade ore

i am guessing that you are very happy that the company failed to find any DSO with a EV above $200m?

[noirua] 06/12/2012 10:47

This is a commercial iron ore find in Central, South Australia, with deep water far away.
WAFM's find is near surface and close to deep water.

WPG Resources - K-Fuel Process



WAFM's results: West African West African Minerals Corporation Enriched iron mineralisation identified at Binga

[longsight] 05/12/2012 10:43

oldvic - excuse my rudeness [have edited the post]

seriously I will retire from slagging off WAFM on here if someone wd make a decent go of justifying the valuation. [I know Dattels may be the messiah - but he still needs some stunning DSO results to justify this]

[longsight] 05/12/2012 10:10

oldvic

are you a paid ramper?

how about telling us all why the RNS was in fact good news rather than bad news. A lot of drilling. Nothing achieved - except confirming that Binga ia minga. And worse of all - a misleadingly upbeat spin in the RNS.

[mrsapeslaptop] 05/12/2012 00:21

we are at inflexion point on the commodities supercycle.

I retain a 10p target.

[oldvic] 04/12/2012 22:23

shortsight

i tell you what
change the kin record will you
or are you a paid deramper
if you dont hold this stock just p off
youve made your point
many times over

[j1nxed] 04/12/2012 22:22

@Noirua

i take it you know nothing about iron ore? DSO is referred to ore that is usually above 55% ... how much of those very narrow intercepts had grades above 55%?

Maybe WAFM will find DSO later, but to say that they have found DSO now is a total lie and you are misleading investors by claiming "Product looks to be a straight forward dig it out and ship it project"

[longsight] 04/12/2012 21:34

Noirua - they have done over 5000m drilling! If you wish to get some idea on what they have achieved then look at what AFF had in intercepts from far less drilling at neighbouring Ntem.

There is no commercial potential at all in those Binga intercepts. How can they dig it out & ship this stuff? There's barely any of it. They reported on 330m out of more than 5000m drilling. Why didn't they tell you about the other drill holes - do you think they are just being modest? The intercepts they do have have very high alumina contaminants level. It is low % fe & needs processing. You haven't a clue what you are talking about.

If you guys think this is a good RNS then I wish you all good luck.

[noirua] 04/12/2012 19:49

Infrastructure and close by deep water is the plus side to WAFM in the Cameroon. Product looks to be a straight forward dig it out and ship it project.
Only 5% of scout drilling carried out so far.

[eelanguilla] 04/12/2012 19:39

think longjohns is talking to himself :) - it got to your buy in price yet lol

[steve243] 04/12/2012 17:21

Good interview with CEO, Brad Mills - talks about the scout drilling and how the real opportunity there is in Cameroon.

This is +ve stuff

[effortless cool] 04/12/2012 17:16

BCH008 - Trench - Depth from 107.0m - Depth to 112.5m - Fe 30.56%

WAFM is some company - it can dig trenches over 100m deep!

Who needs drill rigs?

[longsight] 04/12/2012 16:59

Found the above presentation on the website.

More detail on the drilling:



Still a small proprtion of the drilling holes reported - 326m I think. Far less than 10% of the drill holes length.

I'm no expert on this stuff but I believe those alumina levels look very high. Presumably this suggests that thus far the IO found is not commercial quality?

[longsight] 04/12/2012 15:53

someuwin - thanks for the response

[someuwin] 04/12/2012 15:46

Not currently holding so the drill results mean nothing to me.

[longsight] 04/12/2012 15:43

someuwin

what did you think of the RNS today? Were you pleased by the drill results?

[someuwin] 04/12/2012 15:35

Not much stock available.

Max online buy 12000 shares.

[longsight] 04/12/2012 15:30

Arf - don't! Whatever the news today - the shares go up!

WAFM shareholders shd pay us bears to post on here. The more we (apparantly) trash the Co, the more the shares go up.

The stated strategy was to find lots of DSO & fast track production for 2014 at minimal capex. I wd have thought that with today's news that the most optimally located licence has blown that one out of the water. But nonetheless, the market is happy.

[arf dysg] 04/12/2012 14:50

Hey, look at these grades and thicknesses:

Table 1 - Significant (>35% Fe) Intercepts from Drilling at Binga*

HOLE...From - To Thickness,,,Fe
,,,,,,,,,(m),,,,,,,,,(m),,,,,(%)

BCH008,, 15 - 33,,,, 18 ,,,,35.23
BRC046,,, 3 - 9 ,,,,, 6 ,,,,43.67


Now see what another company has:
NKEGS003 44.8m @ 55.5% Fe from surface
NKEGS008 85.5m @ 55.3% Fe from surface
NKEGS010 101.8m @ 54.1% Fe from surface
NKEGS004 77.3m @ 53.2% Fe from surface
NKEHC070 84.3m @ 51.8% Fe from surface

[longsight] 04/12/2012 13:14

@ j1nxed

thanks. useful info. I reckon the pressure must be on now. Since Binga has disappointed they really need some very strong results from the next campaign in the licence near Mbarga.