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Price trading below recent SPP and increased Sovereign risk. I'm out.
WAF - West African Resources
- Thread starter Joe Blow
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Some surprises at Kiaka south.
I love surprises.
I trust there will be more.
Mick
I love surprises.
I trust there will be more.
Mick
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This throws a very different light on the changes. What Captain Ibrahim Traore is actually doing is putting a stop to Western gold miners sending Burkina Faso's gold out of the country and selling it on foreign gold exchanges! Only a small part of the profits have remained in BF. Soon BF will have amassed enough gold to back a new non colonial currency and Capt Traore and his top brass will reside in BF in their humble abodes while continuing to serve their exploited countrymen and there'll be no London penthouses, Swiss bank accounts or eating of human flesh for them!
Sean K
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Sean K
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Sean K
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Well, I'm still not convinced either way. That Reuters thing is a few days old. I'm surprised some companies haven't come out with a statement saying it's right or wrong, because it was all over X etc. Maybe it's a reddit short tactic. But, it does seem that artisanal gold was directed to be kept in the country earlier in the year. Maybe that's where it started from.
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Being facetious. I got embarrassed. I would believe the Reuters account before that particular YouTube channel. But the video does serve to remind me that this government could do anything.
Sean K
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There's more than enough on the web saying something similar to make me concerned. Needs to be looked into more. BF have already started changing goal posts in other ways so it would not surprise me one bit. But, they will quickly learn that you don't kill the golden goose if they keep changing ownership and taxation rules at relatively short notice. WAF should have had something out responding to this a couple of weeks ago.
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These countries are in the move to the Chinese Russian sphere whose companies will have no issue hiring mercenaries to protect inc. offensively the mine assets, nor any risk of jail term for payment of expected and required bribes.
I sold all shares with a healthy profit a couple of months ago, these are not shares for your super and bottom drawers IMHO
Sean K
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I seriously thought about dumping the rest of my holdings in this due to the rumours floating about but then they come out with this type of stuff.
It's infill and not Swan Zone like but it's very nice.
They really need to be looking at deeper holes along strike under the other lodes to see if this a recurring theme. There could be millions more ounces under their feet.
It's infill and not Swan Zone like but it's very nice.
They really need to be looking at deeper holes along strike under the other lodes to see if this a recurring theme. There could be millions more ounces under their feet.
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Agreed, but they are great for short term trading.
Mick
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Indeed waf has been good to me, lately as short term non automated trading, and in the past thru my systems
But am fully out now
But am fully out now
Sean K
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Sold half a while ago, free carried now. I love that. It's been a while.
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I have been on Free Carry for EVERYTHING since 2004
Sean K
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@debtfree this has been falling over a bit since the top around $1.60 in June. Three lower highs. Went on a tear since March and not sure if that was really warranted. Maybe so with POG going well, or this was just unloved before coming loved. Too much uncertainty with the BF government for me at the moment and happy to have completely cashed out. That means it'll probably run to 2 bucks very soon.
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Held since the dollar days,
A chart which is unpredictable but ‘Gold’ being on a tear-away, it was only a matter of time before WAF got its act together and continued its upward projectory despite its current sideways pattern.
See where we go here & the importance of staying strong with technicals and having the wider trailing stops in place despite the fluctuating movement …
May this stock find more strength,, fingers crossed
A chart which is unpredictable but ‘Gold’ being on a tear-away, it was only a matter of time before WAF got its act together and continued its upward projectory despite its current sideways pattern.
See where we go here & the importance of staying strong with technicals and having the wider trailing stops in place despite the fluctuating movement …
May this stock find more strength,, fingers crossed
Sean K
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WAF back to almost ATHs. I cashed in but hope for a decent correction to potentially re-enter when I'm happier with the overall market and less murmurs about WAf risks. Maybe they will always be there.
This is still going back up the second climb of the Lassonde with the ramp up in Kiaka. All things being equal and no general market implosion I probably left some on the table.
One thing that might not be factored in to this is the parameters their feasibility studies have been done on. As an unhedged producer their 10 year production target is based on US$1400/oz POG. POG is currently US$1100 over that assumption. If POG keeps going and they rerun their numbers on the spot price this could be worth much much more.
This is still going back up the second climb of the Lassonde with the ramp up in Kiaka. All things being equal and no general market implosion I probably left some on the table.
One thing that might not be factored in to this is the parameters their feasibility studies have been done on. As an unhedged producer their 10 year production target is based on US$1400/oz POG. POG is currently US$1100 over that assumption. If POG keeps going and they rerun their numbers on the spot price this could be worth much much more.
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Took the profits at 1.57 in the afternoon.
It was only a modest profit , but I am expecting that there will be another pullback to give me achance to get back in.
Mick
It was only a modest profit , but I am expecting that there will be another pullback to give me achance to get back in.
Mick
