WAF - West African Resources

[mullokintyre]

1.50 would suit me rather nicely thank you very much.
So who or what is going to send the SP to such lofty levels?
Mick

Perhaps the latest drilling results might tbe a bit of a kicker.
Need to see how close the specing between the holes are to get a better picture of how big it all is.
But it can't hurt.
The year end result also pretty good, good cash flow, #135 mill in cash and bullion, ASIC around $1130 and ounce, next years guidance around 200k ounces at AISC of less than $1300 an ounce with the price of gold increasing.
It will probably rocket as i sold about half my stake in WAF for what i thought was a good profit to shift into TCG.
Mick

 

[Sean K]

This drilling is confirming that Sanbrado is going to add a lot of underground ounces. It seems to be going UG at excellent grades right along the deposit and should add 10s of 1000s to the life of the mine. Once Kiaka is added might be more than a 400K pa producer. Maybe pushing 450K.

 

[qldfrog]

This drilling is confirming that Sanbrado is going to add a lot of underground ounces. It seems to be going UG at excellent grades right along the deposit and should add 10s of 1000s to the life of the mine. Once Kiaka is added might be more than a 400K pa producer. Maybe pushing 450K.

View attachment 172776View attachment 172777

Like Mick,
I sold half my stake. After a healthy jump in no time....so was happy, but was i too early

 

[mullokintyre]

Just read this Al Jazeera article about Russia becoming a greater influence in Burkhina Faso.
Ya just don't know what those peace loving Russians are whispering into thr pretty pink ears of the current coup leaders.
Will it have an adverse impact on WAF, B2Gold,Orezone or Endeavour mining?
Mick

 

[Sean K]

Just read this Al Jazeera article about Russia becoming a greater influence in Burkhina Faso.
Ya just don't know what those peace loving Russians are whispering into thr pretty pink ears of the current coup leaders.
Will it have an adverse impact on WAF, B2Gold,Orezone or Endeavour mining?
Mick
View attachment 172843

Interesting. Not sure if the French will allow too much influence. I think they still think there's a French West Africa.

While WAF has recovered from the over reaction sell recently, it's still way over affected by the perceived country risk. They have practically the same resource at DEG and are less than half the MC. A 50% discount is not warranted.

 

[qldfrog]

Interesting. Not sure if the French will allow too much influence. I think they still think there's a French West Africa.

While WAF has recovered from the over reaction sell recently, it's still way over affected by the perceived country risk. They have practically the same resource at DEG and are less than half the MC. A 50% discount is not warranted.

France did think so and got its ass kicked so imagine in ukraine.... ..see last year in Mali, Barkhane operation etc,[https://www.google.com/url?sa=t&rct...usg=AOvVaw0Wc_we8WJMAhADUULoT-iw&opi=89978449], there is no more a French West Africa , but there is definitively an West African France..I would really like to add a ROL or LOL..but I can not..You will understand

 

[Sean K]

Catching that knife in Feb has paid off so far. Up 30% ish. Was probably good buying anywhere under a $1b MC when they're making $165m profit and are going to be making about $300m pa soon.

 

[mullokintyre]

Catching that knife in Feb has paid off so far. Up 30% ish. Was probably good buying anywhere under a $1b MC when they're making $165m profit and are going to be making about $300m pa soon.

View attachment 173341

Take the money and run.
30% since Feb is more than goodish.
Mick

 

[mullokintyre]

Litening to BTL this morning.
Way back in the dim distant past (October 2023 actually), we had the following announcement.

West African Resources announced the Company and Orezone Gold Corporation (Orezone) the two companies intend to enter into a memorandum of understanding (MOU) to investigate synergies on their respective mining projects that could unlock value for all stakeholders. Orezone's Bombore and the Company's Sanbrado operating centres are located 14km from each other and host some 11Moz in Au resources. The Company is building the 7.7Moz Kiaka gold project located 45km south of Sanbrado with gold production planned to commence in FY2025. The two operating mines, development projects, and exploration tenure cover a contiguous area over 1,800sqkm and 100 strike km of highly prospective greenstone belts and structures.

Since then there has been crickets.
Waf share price has gone up, ORE .TSX is down.

At some point in the future, we might expect WAf to make a tilt at Orezone, as its relativity has gone up about 50% since the announcement.

Mick

 

[Sean K]

Litening to BTL this morning.
Way back in the dim distant past (October 2023 actually), we had the following announcement.

Since then there has been crickets.
Waf share price has gone up, ORE .TSX is down.
View attachment 173403

At some point in the future, we might expect WAf to make a tilt at Orezone, as its relativity has gone up about 50% since the announcement.

View attachment 173402


Mick

I actually put a question to management at the last investor's webinar regarding the Orezone MOU and they ignored it.

 

[Sean K]

My original plan for WAF was to simply wait until it got back closer to ATHs and then bail for the next undervalued, oversold, unloved, West African miner type thing, but with POG going nuts and this unhedged, I'm reconsidering. There will be a gold consolidation at some point, but the longer term set up looks almost too good to be true.

 

[Sean K]

Looks like it's going to hit my take profit line today. It's been an excellent run and has probably outdone most others including spot. FOMO has caught on by the looks so momentum might keep it going for a bit. Need some healthy consolidation soon.

 

[mullokintyre]

Looks like it's going to hit my take profit line today. It's been an excellent run and has probably outdone most others including spot. FOMO has caught on by the looks so momentum might keep it going for a bit. Need some healthy consolidation soon.

View attachment 174025

I am going to hang on for 1.50 to sell the remainder.
Already made some good profits from this one, going for the icing on the cake.
Mick

 

[finicky]

I will continue to hold my 15,000 into the indefinite future in the calm expectation that some disaster will befall it a la mode SSRM.

 

[Sean K]

Looks set to have an extremely good 2024 if POG holds up. They made after tax profit of $165m in 2023 on US$1944 average gold price. If you plug in $2150 or so, it's an extra $40m ish. $2300 gold and it's $70m extra.

 

[Sean K]

WAF MC around $1.4b, which is a lot, and hitting this resistance zone again. No idea how much it should be worth but expect a decent pause around here. Great run since Sep 23.

Q1 sales price ave $2078, should be up to the $2150 pluck at least in Q2.

 

[finicky]

Only infill drilling results for defining u/g stopes at M1 South but clearly exceeding expectations and superficially reminds me of 'jewellery box' grades and thickness at Fosterville. Have highlighted the highest grade segements of intercepts which are still quite thick (assuming close to true width). I mean, like wow.

Held

 

[Sean K]

Only infill drilling results for defining u/g stopes at M1 South but clearly exceeding expectations and superficially reminds me of 'jewellery box' grades and thickness at Fosterville. Have highlighted the highest grade segements of intercepts which are still quite thick (assuming close to true width). I mean, like wow.

Held

View attachment 174967

Extraordinary. They have a Swan Zone.

WAF pausing where you'd expect.

 

[mullokintyre]

Just reading the latest quarterly.
The thing that stood out was the big increase in cash from borrowings, with another 181 million available, giving a total of $520 million available.
so whats the chance of a bid for orezone in the near future?
mick

 

[Sean K]

Just reading the latest quarterly.
The thing that stood out was the big increase in cash from borrowings, with another 181 million available, giving a total of $520 million available.
so whats the chance of a bid for orezone in the near future?
mick

Long term ORE might be OK but short term I'm not sure it'd be a good play. Further concentrating everything in BF would be even greater perceived risk. Would much prefer someone take over WAF.