West African Share Discussion Threads

[robrah] 12/2/2014 16:32

Be careful more cash a company own more likely companies like imic will take wm over . And not even pay .

[frogboy11] 12/2/2014 15:06

DirectorsTalk ‏@DirectorsTalk 5m
VIDEO, West African Minerals in a 'robust' position

[steffyloveshares] 12/2/2014 14:56

video interview

West African Minerals in a 'robust' position after placings

Anton Mauve, MD of West African Minerals (LON:WAFM), tells Proactiveinvestors that the company has capitalised on the recent placing with another raising which, in total, has seen $10mln brought onto the balance sheet. Anton talks about the opportunities presented to the company and explains that the expectation is that total expenditure this calendar year will be around $6mln.

[frogboy11] 12/2/2014 14:33

DirectorsTalk ‏@DirectorsTalk now
VIDEO Anton Mauve, MD of West African Minerals -

[profith] 12/2/2014 09:22

@ZaksTradingCafe West African Minerals additional investor demand,flexibility to accelerate

[robinson73] 12/2/2014 07:04

Invested here however its also worth looking at KDR.

News at the end of the month and the CEO just invested £470k of his own money after releasing this statement:

"During the last 18 months the Company has made a number of positive
discoveries in Finland that lead us to believe that there is a very strong
possibility of successfully achieving our aim of discovering a major
diamondiferous pipe."

Chairman, Professor Conroy

The company has £2m in cash so no need for funding.

just received this:-

hxxp://www.businesswire.com/news/home/20140211005766/en/Endomines-AB-Encouraging-assay-results-Karelian-Gold#.UvoTnkJ_uKM

[robrah] 12/2/2014 07:02

And more dilution ...

[profith] 11/2/2014 22:03

DirectorsTalk ‏@DirectorsTalk 15m
West African Minerals £236k buy @ 7.88p -

[robrah] 11/2/2014 13:35

Arf tell me how much aff had and still got take over for free using aff s own money . Wafm dont even have that lol Lol and ppl actually there is money to be made staying long .Some even think it will go back to its peaks juat because it had been there before lol .

[arf dysg] 11/2/2014 13:30

30 million tonnes! THIRTY MILLION TONNES!!

(at a grade of ... ahem ... 29.7% Fe)


AND THERE'S LOTS MORE WHERE THAT CAME FROM!!


West Africa Forgives Millionaires.

[profith] 11/2/2014 12:16

£110K BUY just came through on l2 from after hours last night

[profith] 10/2/2014 12:52

DirectorsTalk ‏@DirectorsTalk 2m
SP Angel, Iron Ore Review - Where to for the West African Juniors? -

[loverat] 10/2/2014 11:54

Cannot see anything about bid chat. The link is to an article about the cash position before the placing. Besides I would not trust anything posted by some posters here as the links have been found to be false.

[oldvic] 10/2/2014 11:49

bid target chatter


may i refer all interested partys to post 857 !!

[loverat] 10/2/2014 11:13

Who knows. I expect a link to one false rumour or another.

Robrah - thanks. Received and understood. I think my main interest here at present is the fact the share price is low in comparision to before and the share price is a really strong mover. Whether that's on thin air than substance etc is not a major issue for me as lots of AIM companies which ultimately fail (as this probably will) have speculative upside at some point and are widely followed. I guess at some stage these will take off again although I will do some research anyway. Thanks again.

[robrah] 10/2/2014 11:03

What does that mean frog ?

[frogboy11] 10/2/2014 10:19

@ZaksTradingCafe West African Mining(WAFM), Indian infrastructure conglomerate Jindal Steel and Power -

[robrah] 10/2/2014 10:11

Loverat . The reason this went up at all was expection of a sundance like resource . Massive dso close to a billion tonnsUnfortunately this truly disappointed on a grand scale . No dso up to now and and poor grade of only 30 million magnetite . Hardly anything to write home about. The more knowledgable posters have stated from the start even when this was in 60z . That this is all pump and dump . I dont see the fundamentals to see share price increase . There is tonne of dilution coming not tonnes of ore .

[loverat] 10/2/2014 09:34

I don't know much about this company but the chart is interesting. Historically this share price has moved up very strongly on volume. Looks like some larger buys today might push this one back up and funding out of the way. Might do some further research. Some of the BB comments are negative but this may be partly down to short term disappointment rather than the potential longer term.

[gheebee] 09/2/2014 13:25

Very nice, but what is the relationship between POSCO and IMIC unless it was inherited from AFF?

[oldvic] 07/2/2014 23:29

96p
yes indeedeee!!!

[frogboy11] 06/2/2014 14:33

West African Minerals Raises £3.7 Million To Fund Development At Binga
06 Feb 2014 by Minesite Staff


Brad Mills
Brad Mills
West African Minerals has raised £3.7 million to carry out further work on the Binga iron ore project in Cameroon.

In particular, the company plans a programme of metallurgical testwork and infill drilling. The work comes hot on the heels of a maiden NI 43-101 inferred mineral resource of 30.5 million tonnes of material grading 29.7% iron which was announced in January of this year.

That initial inferred resource is the product of 5,806 metres of infill drilling in three blocks at Binga.

But there should be more to come. The previous drilling program intersected mineralization at surface, with the holes ending in mineralization at 50 metres from surface.

In addition to potential depth extensions, the company pointed to a potential strike extension of at least 20 kilometres.

Back when the maiden resource was released, the directors of West African Minerals expressed interest in raising US$6 million in early 2014 to carry out further exploration at Binga and certain major shareholders indicated that they were willing to support such a fund raising should it be approved.

Accordingly, West African Minerals has issued 52,797,738 new ordinary shares at a placing price of 7p per share together with one warrant for each two placing shares, to raise approximately £3.7 million before expenses.

Each warrant is exercisable for one new ordinary share at a price of 10 pence per ordinary share for a period of two years from admission.

Meanwhile, on the ground, metallurgical test work and ground-based geophysics work is already underway. Infill drilling will follow, and should lead on to a resource update and conceptual studies on commercial operations, including port and terminal access.

Drilling at Binga
Drilling at Binga
"We are very pleased with this placing as it will enable the company to continue with the next steps to determine a high-level techno-economic assessment of the Binga project", said West African Minerals president Brad Mills.

"The metallurgical test program has been finalised and samples are currently en route to a test facility in South Africa. As a result of the strong aeromagnetic indications of potentially mineralised strike extensions and satellite magnetite-bearing bodies, several areas have been identified for ground-geophysical follow-up and potential drill testing."

"Based on the success of the foregoing, and in view of its close proximity to port, the Binga project could represent a clear strategic advantage for the company with the potential for cash flow in the near term. Through their participation in this placement, management and the board continue to maintain a significant position in the company and are committed to building value for all shareholders."

West African Minerals' share price fell more than 11 per cent on Wednesday to 7.42p on AIM, as the market adjusted its valuation of the company to take account of the placing.

[robrah] 06/2/2014 11:41

96p lol no chance wafm will need a billion tonns of dso to justify that .Zak zak zak

[frogboy11] 06/2/2014 10:40

@ZaksTradingCafe share price ANGEL, West African Minerals (LON:#WAFM) Brad Mills forecasts substantial growth in Cameroon 96P TGT