West African Share Discussion Threads

[chesty1] 13/1/2017 15:11

Zioc on the move will wafm follow suit of course it will.

[chesty1] 09/1/2017 15:51

They have dropped it but you can hardly buy but sell loads...Let em play games.

[chesty1] 09/1/2017 08:09

If this gets a bit of volume this week the chart says bbbooommmm !!!

[chesty1] 06/1/2017 21:15

I like this bit -

2016 has seen a doubling of iron ore prices from a low around US$40 per tonne in January to recent highs just over US$80 per tonne, still down over 40% from its 2013 peak of over US$140 per tonne. Renewed confidence in the iron ore market has been mainly driven by Chinese re-stocking although market experts are not yet convinced that the price rally is sustainable, especially given President-elect Trump's apparent negative sentiment towards China - although his infrastructure plans could be steel intensive.

West African Minerals remains fortunate among its peers in that it has no debt, a healthy cash balance and a low maintenance cash burn rate of less than US$0.5 million per year. Our strategy remains to prudently advance our most mature and promising iron asset toward production by securing appropriate infrastructure and seeking out compelling new business opportunities in the mineral resource space outside of iron ore where there may be significant unrecognized value. Our long term view is that all mineral commodities are fundamentally cyclical and that those companies that can take advantage of periods of extremely low asset valuations to build their portfolio will be well place to benefit from the eventual market recovery.

We thus continue to focus significant effort on how best to utilize our existing assets, notably utilizing the Sanaga deposit as a low cost feed source for an iron ore pellet project and to the review and evaluate new business opportunities for advanced exploration or producing assets in mineral commodities other than iron ore. We will continue to preserve cash and only spend funds on compelling value generation opportunities.

2016 Operations in Review

Development of the Sanaga Mineral Deposit

In previous messages to shareholders we reported on the declared Maiden Inferred Mineral Resource Estimate (MRE) at Sanaga - 82.9 Mt @ 32.1% Fe at a 25% cut-off grade, including a higher grade oxidised cap of near-surface enriched mineralisation of 15.8 Mt @ 37.3% Fe at a 25% cut-off grade. Preliminary metallurgical test work has confirmed that we can produce a premium grade and quality concentrate (69% Fe at average mass recoveries of 40%) from this ore and this would be suitable as a local supply for a Cameroon-based steel industry.

We have recently appointed Royal Haskoning DHV to conduct a Scoping Study to an accuracy of +/-35%. The study is due to start in January 2017 and should be completed in the second quarter of calendar 2017. We have budgeted to spend US$200,000 on this study including a US$25,000 management fee to shareholder Plinian Capital. The study will focus on an open pit mine plan, process design, a market study for the appropriate iron ore pellet market, identification of potential relevant customers, review of available and likely required logistics and infrastructure, optimisation of production rate and a financial model to allow your Board to evaluate the sense of progressing further with this project.

[effortless cool] 06/1/2017 20:54

And this is no competition ...

In previous messages to shareholders we reported on the declared Maiden Inferred Mineral Resource Estimate (MRE) at Sanaga - 82.9 Mt @ 32.1% Fe at a 25% cut-off grade, including a higher grade oxidised cap of near-surface enriched mineralisation of 15.8 Mt @ 37.3% Fe at a 25% cut-off grade. Preliminary metallurgical test work has confirmed that we can produce a premium grade and quality concentrate (69% Fe at average mass recoveries of 40%) from this ore and this would be suitable as a local supply for a Cameroon-based steel industry.

[effortless cool] 06/1/2017 20:53

This is what you call an iron ore deposit ...

Afferro Mining Inc. ("Afferro" or the "Company"), the exploration and development company focused on iron ore in Cameroon, is pleased to announce an updated National Instrument 43-101 ("NI 43-101") compliant Mineral Resource Estimate ("MRE5") for the Nkout Iron Ore Project ("Nkout"). This Mineral Resource Estimate supersedes that previously announced on 29 June 2012 ("MRE4").



Highlights:

- Increase of 156% of the direct shipping ore ("DSO") and high-grade saprolite Indicated resource, which now stands at 64.3 million tonnes ("Mt") at 54.5% iron ("Fe"):

o Previously announced metallurgical test work demonstrates that this grade material can be beneficiated to a premium grade material

- 85.7 Mt at 39.1% Fe of oxidised banded iron formation ("BIF") resource (Zone 130) re-classified as Indicated resource

- Magnetite BIF Indicated resource confirmed at 1.4 Bt Mt at 32.0% Fe

- Further MRE before year end targeting an Indicated resource of 225 Mt DSO/saprolite and 1.7 Bt Magnetite BIF

[effortless cool] 06/1/2017 20:50

CHESTY,

The issue with this share is surely that the resource is rubbish. It is small and poor grade - compare it to the deposits that AFF found in Cameroon, or Sundance.

I can't see any way that this resource could justify the massive infrastructure development required to exploit it.

[chesty1] 06/1/2017 20:43

I have sent him the message...cheers.

[extrader] 06/1/2017 20:39

Hi CHESTY1,

You could get it from the horse's mouth, so to speak, by private messaging him....

ATB

[chesty1] 06/1/2017 19:15

Anyone know if he still holds ??

tomboyb9 Mar '16 - 08:19 - 1269 of 1298 2 0
ZIOC + WAFM -

real monster recovery plays if Iron ore prices hold up -


GOOD CALL!

[chesty1] 06/1/2017 16:16

This will continue over the coming months & fully expect 6p+ by the end of Q1 with ease.

[chesty1] 06/1/2017 15:43

Very nice....

[chesty1] 04/1/2017 14:13

Can sell in volume at 2.7p next move is up and it will be a bigun imvho

[chesty1] 03/1/2017 13:28

Small buyers having a dabble here.This one will surprise us all this year.

[chesty1] 22/12/2016 12:41

Decent results and it looks like things are going to start moving again in 2017!!!Be lucky to all

[chesty1] 19/12/2016 10:37

With this drop it's the first time you have been able to sell in volume for a week, they know this is going up and want stock....

[chesty1] 15/12/2016 10:26

Ok I am not in a position to add here until Monday next week, keep it here and I will have some more.Be lucky to all.

[chesty1] 14/12/2016 12:00

Iron ore is still rising to a level not seen since 2014 bring on the rns to say we are up and running again as prices looking good.Bring on 2017.

[chesty1] 08/12/2016 14:51

This is no p&d. Something is brewing.

[kinloch] 08/12/2016 12:54

Iron ore prices firming up this has moved up quickly in the past prior to the ebola outbreak company has good reserves

[chesty1] 08/12/2016 09:58

Well I have gone in for a coupleSomeone is having a nibble here.Bring on 2017.

[linton5] 24/11/2016 11:24

Come on you teaser,you know you want to😜