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WAF - West African Resources

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mullokintyre said:
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
Click to expand...
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
 
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.

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

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
 
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.

 
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.


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
 

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

 
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.

 
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
 
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.
 
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.
 
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.

 
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

 

Extraordinary. They have a Swan Zone.

WAF pausing where you'd expect.

 
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
 
mullokintyre said:
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
Click to expand...

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.
 
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