The is a real disconnect here, analyst Vs market Vs company decision to do an equity raise at $0.25

These are all independent valuations. The debt raise is sufficient to carry WAF on all construction work etc. Why not delay the equity raise and then raise in the future at a higher unit price?

All eggs in one basket, what am i missing?

ANALYST COVERAGE

The following firms have provided coverage on West African Resources over the past 12 months.

	FIRM	ANALYST	CONTACT	LATEST RESEARCH
Argonaut	James Wilson	+61 8 9224 6888	Buy, price target $0.62/share
Bell Potter	Duncan Huges	+61 8 9326 7667	Spec Buy, price target $0.62/share
Cormark	Tyron Breytenbach	+1 416 943 6747	Buy, price target C$0.65/share
Euroz	Andrew Clayton	+61 8 9488 1427	Buy, $0.70/share
Hartleys	Mike Millikan	+61 8 9268 2805	Buy, price target $0.70/share
Macquarie	Ben Crowley	+61 8 9224 0839	Buy, price target $0.50/share