WAF 3.96% $1.46 west african resources limited

All depends on your time horizons, whether you want to worry...

  1. JID
    3,568 Posts.
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    All depends on your time horizons, whether you want to worry about the pips.

    Provided gold does not collapse it looks like WAF have a very interesting deposit that will be sought after. Apart from company specific progress, which now looks like a Papillon analogue (drill, drill, drill ... T/O) there are a few left field possibilities that could catch you out if you're waiting for a gap fill before buying;

    (1) the obvious one would be B2Gold having a crack, either for the whole thing or, like many others are doing now, grabbing a 10-19.9% stake. Probably too early for a full T/O, especially with their hands full at Fekola but you could see them and possibly others (e.g. EDV, SEMAFO, etc) squabbling to get blocking stakes in WAF.

    (2) Sprott are keen and I know Nth American investors are being made aware of WAF. Also Sprott and Brent Cook work closely together. After the success of Mariana (Hot Madden) these guys may be looking for a repeat with WAF. This is especially so now with the continuity of very high grade at depth and Roxgold's nearby deposit suggesting that this may extend +1km deep. The economics and scale will attract predators and that is what Brent Cook looks for. His subscriber base is huge and well funded.

    A recommendation from him would add 20-30% overnight and the gap would never be filled (assuming gold doesn't go sub $1,000).

    I was later to this than Eshmun, for example, but am firmly esconsed now and happy to hold, accumulate and see what happens.

    Cheers
    John
 
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