West African Share Discussion Threads

[longsight] 29/7/2013 00:54

Just for the record, I actually called this one right (for once). Never went short on it though!!:

longsight 15 Dec'12 - 19:34 - 549 of 683 0 0 edit


I read up heavily on WAFM when they were just 10p & decided that AFF looked far better bet at then price of circa 40p. [I was totally wrong of course in terms of the subsequent rise of WAFM's SP]

I still think WAFM are worth maybe 10p i.e. approx £29m m cap. But given the management have zero integrity imo - - especially in light of the disgraceful BS in the RNS on Blinga-Minga - actually I think it is not worth anything.

[noirua] 28/7/2013 22:45

£14.2m cash on 15th April 2013:

The only present upside is that WAFM iron ore is close to port and can be easily trucked before the main rail infrastructure is put in place around 2018. [the opposition have stranded iron ore far from port] All they have to do is find iron ore close to 62% FE or better and repeat the close to surface finds found so far.

China remains committed to having a major infrastructure interest in the Cameroon against a guarantee to purchase all the iron ore.

[kristini2] 26/7/2013 08:53

Dattells is reported to be reducing his managerial roles with wafm & polo. Interestng to contrast the share performance where wafm has capitulated and polo is off but at 12 month support levels and looking interesting value at 18p (NAV 95p).

wafm still trades way above nav and one wonders where this may eventually settle, too early to buy back in for me, polo very tempting on the other hand

[noirua] 25/7/2013 17:33

WAFM turned the corner in the last hour as bargain hunters picked up stock at bombed out prices. Drilling results are expected fairly shortly.
April 2013 - WEST AFRICAN MINERALS - West African Minerals - Latest assay results - BRR Media webcast

[noirua] 25/7/2013 11:27

£14.2m cash on 15th April 2013:

[orchestralis] 24/7/2013 21:04

Glad I sold out at 87p. Made the right decision for a change.

[noirua] 23/7/2013 22:57

£14.2m cash on 15th April 2013:

[ryan83] 23/7/2013 22:31

complete tosh Mandi

from RNS July 18th, and effective as at 31st March:-

"Following placements, cash still remains over £9.4 million (2012: £10.6 million)"

[noirua] 23/7/2013 22:19

June 2013 -=

[arf dysg] 23/7/2013 13:33

WAFM = We All Feel Miserable

[arf dysg] 23/7/2013 13:33

"The Board would like to thank Mr Dattels for his valuable contribution to the success of the Company since its listing in 2007."

Translation: thank you for any success which might have happened in the last 6 years. The gratitude we feel is directly proportional to the success the company has achieved.

If there hasn't been any success, well there ain't any thanks either.

[noirua] 22/7/2013 17:34

A second reverse circulation (RC) drill rig and two diamond rigs have been mobilized and will be operational by mid June to assist in the grid drilling, provide better geologic understanding of the mineralisation encountered to date, and extend the scout drilling to additional anomalies.

16/4/2013: Latest assay results from South Djadom | West African Minerals Corporation


The only present upside is that WAFM iron ore is close to port and can be easily trucked before the main rail infrastructure is put in place around 2018. [the opposition have stranded iron ore far from port] All they have to do is find iron ore close to 62% FE or better and repeat the close to surface finds found so far.

China remains committed to having a major infrastructure interest in the Cameroon against a guarantee to purchase all the iron ore.

[kristini2] 21/7/2013 08:57

too early to say whether this has failed.........

on reflection dattells may be slowing down his management roles and retaining his equity stakes which is where he will make his money in capital gains if the projects come good

[jungmana] 20/7/2013 15:33

A failed company. When the tide goes out.......

[gheebee] 20/7/2013 15:13

kristini2

I don't know if the placing investors were told but there was a very big hint to all of us when Angstrom Capital Ltd reduced its interest in the Company below 3% of the issued share capital on 30 Apr.

"Angstrom Capital Ltd/SA Angstrom is presumed to be a private equity firm whose investments in various mining outfits are closely associated with the interests of Stephen R Dattels...."

hxxp://moneytometal.org/index.php/Angstrom_Capital

It is worth noting that Mr Dattels reduced his holdings and responsibilities at Polo Resources at the same time (see above)so there may be something personal behind his decisions (hence his planning on spending more time with his family).

[kristini2] 19/7/2013 14:02

Livic, dattels would clearly not be moving on if there was a great opp here and your summary if rather cycnical is a clear path that many aim cos tend to folow.

I believe wafm have circa £10m in cash in hand though, i assume investors will have been made aware that dattels was leaving as part of the disclosure during the recent placing ?

[kristini2] 19/7/2013 12:43

why would Dattells walk away from a great money making opportunity, where's this going to bottom out ?

nothing from JM yet ?