What's going on with WAGI? (West Africa Gold, changing name to Great West Gold)
This company has a strange, terrible stock chart (it trades on the OTCBB and Pink Sheets as WAGI). Over 27 million shares have traded so far today, but the price is getting a bit infinitesimal (US$0.007). Despite incredible dilution already, they just declared a 20% STOCK dividend. You become 20% richer thereby. They allege their northern, remote, non-Birimian, Malian gold to be worth US$1.8 billion in the ground, and they report some high gold grades. Three press releases appear below. The fact that their Mali gold property is nowhere near the lucrative Birimian greenstone structures of southwest Mali doesn't stop the company from proclaiming the merits of the latter. The emphasis now seems to be shifting to their "highly prospective" properties in Arizona, despite the $1.8 billion allegedly lying in the ground in Mali, hence the name change.
I can understand all the selling volume in the last month, but WHO is doing all that buying?
The company web-page is, uh --- advanced.
Does anyone have an opinion on this wonder? The stock chart is among the world's worst. Poignantly, while announcing the 20% stock dividend, the company CEO Saner says it's "hoped that this would offset some of the losses suffered by the Company's shareholders caused by the unexplained and very substantial fall in the Company's share price in recent months".
Are the current buyers just fools, or is there a real value in this company now? All opinions are welcome. See below.
FL
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West Africa Gold, Inc. Announces Company Name Change
- Market Wire
NEW YORK, NY, Oct. 26, 2004
(MARKET WIRE via COMTEX) -- West Africa Gold, Inc. (WAGI) announced today that, pursuant to the affirmative consent of its Board of Directors and a majority of the holders of its common stock, the company name has been changed to "Great West Gold, Inc." The company will continue trading under the symbol "WAGI" until a symbol change can be completed.
The change of the Company's Name, CUSIP Number and its Trading Symbol reflects the Company's recent acquisition of North American Gold Mining Properties located in Arizona. It is anticipated that these changes will be effective within the next two weeks.
About West Africa Gold, Inc.:-
West Africa Gold (www.westafricagold.com) is an aggressive gold exploration company that has acquired certain rights to mine for minerals, primarily gold, in various regions of the Republic of Mali and in North America.
Statements contained in this press release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based largely on the Company's expectations and are subject to a number of risks and uncertainties beyond the Company's control, including but not limited to economic, competitive and other factors affecting the Company's operations, management team effectiveness, expansion strategies, available financing, market prices and recovery costs, government regulations involving the Company, facts and events not known at the time of this release, and other factors discussed in the Company's filings with the Securities and Exchange Commission.
These statements are not guarantees of future performance and readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company undertakes no obligation to update publicly any forward-looking statements.
Contact:
West Africa Gold Inc.
(+ 1 212 672 1851)
E Mail : investor@westafricagold.com
SOURCE: West Africa Gold, Inc.
Copyright 2004 Market Wire, All rights reserved.
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West Africa Gold, Inc. Declares a Stock Dividend
NEW YORK, NY, Oct. 25, 2004 (MARKET WIRE via COMTEX) -- West Africa Gold, Inc. (WAGI) announces that the Company has authorized a 20% (twenty percent) dividend of the Company's common stock for its shareholders of record as of Monday, November 8, 2004. The distribution to shareholders should be completed by the end of November 2004.
With this, the Company wishes to thank all its shareholders for supporting the Company's efforts in the development of the Company's mining properties in North America and in Mali, West Africa.
Michael G Saner, the CEO of West Africa Gold, Inc. said that he was delighted that shareholders were being rewarded in this manner and hoped that this would contribute to increased support for the Company and its Mining Exploration efforts and hoped that this would offset some of the losses suffered by the Company's shareholders caused by the unexplained and very substantial fall in the Company's share price in recent months.
About West Africa Gold Inc.:
West Africa Gold (www.westafricagold.com) is an aggressive gold exploration company that has acquired certain rights to mine for minerals, primarily gold, in various regions of the Republic of Mali and in North America.
Statements contained in this press release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based largely on the Company's expectations and are subject to a number of risks and uncertainties beyond the Company's control, including but not limited to economic, competitive and other factors affecting the Company's operations, management team effectiveness, expansion strategies, available financing, market prices and recovery costs, government regulations involving the Company, facts and events not known at the time of this release, and other factors discussed in the Company's filings with the Securities and Exchange Commission.
These statements are not guarantees of future performance and readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company undertakes no obligation to update publicly any forward-looking statements.
Contact:
West Africa Gold Inc.
+ 1 212 672 1851
E Mail : investor@westafricagold.com
============================
West Africa Gold, Inc. Declares a Stock Dividend
NEW YORK, NY, Oct. 25, 2004 (MARKET WIRE via COMTEX) -- West Africa Gold, Inc. (WAGI) announces that the Company has authorized a 20% (twenty percent) dividend of the Company's common stock for its shareholders of record as of Monday, November 8, 2004. The distribution to shareholders should be completed by the end of November 2004.
With this, the Company wishes to thank all its shareholders for supporting the Company's efforts in the development of the Company's mining properties in North America and in Mali, West Africa.
Michael G Saner, the CEO of West Africa Gold, Inc. said that he was delighted that shareholders were being rewarded in this manner and hoped that this would contribute to increased support for the Company and its Mining Exploration efforts and hoped that this would offset some of the losses suffered by the Company's shareholders caused by the unexplained and very substantial fall in the Company's share price in recent months.
About West Africa Gold Inc.:
West Africa Gold (www.westafricagold.com) is an aggressive gold exploration company that has acquired certain rights to mine for minerals, primarily gold, in various regions of the Republic of Mali and in North America.
Statements contained in this press release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based largely on the Company's expectations and are subject to a number of risks and uncertainties beyond the Company's control, including but not limited to economic, competitive and other factors affecting the Company's operations, management team effectiveness, expansion strategies, available financing, market prices and recovery costs, government regulations involving the Company, facts and events not known at the time of this release, and other factors discussed in the Company's filings with the Securities and Exchange Commission.
These statements are not guarantees of future performance and readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company undertakes no obligation to update publicly any forward-looking statements.
Contact:
West Africa Gold Inc.
+ 1 212 672 1851
E Mail : investor@westafricagold.com
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