Value Microcaps Junior Miners

[Bobwins]

WAF.ax/WAF.v/WFRSF A$.40

West African Resources, LTD presented me with a price mismatch that I couldn't resist. It's priced at A$.40 in Australia but at C$.365 in Canada. A$.40= US$.307 while C$.365 = US$.2826.

Being cheap, I decided that it was better to pay C$.365 than A$.40. Added a few this morning in Canada. The company is based in Australia and has no broker support in Canada so the discrepancy doesn't surprise me. Stock is way more active in Australia and so I expect Australia will dictate stock price over the long run.

Catalysts for WAF.ax/WAF.v include an updated resource estimate by 12/16. DFS is also due by then as well as the mining license from Burkina Faso govt. The proposed mine is located amongst several other gold mines and has lots of upside, given the recent high grade drill results. 1 meter at 1107 gm/tonne and 1 meter at 534gm/tonne in a new area called M1.

Company expects that they will make a go/no go decision after the DFS and secure financing in 2017Q2 with construction to begin shortly thereafter.

http://www.westafricanresources.com/wp-content/uploads/2016/08/WAF030816.pdf