africa: boom time iron ore, page-14

A canadian moves into Guinea. Forecariah is about 40 kms west of Pinnacle's Kukuna and Kerouane is sth east from Sandenia. Both magnetite ore where as CFE only has 1 - Sandenia. SRK Consulting doing work for CFE at Kukuna and enviro scoping study at Marampa.

WESTWARD TO ACQUIRE IRON ORE ASSETS IN GUINEA, WEST AFRICA
Canada NewsWire
VANCOUVER, Jan. 14 - Westward Explorations Ltd., (WWE.H: TSX-V) ("Westward") is pleased to announce that it has entered into an arm's length letter of intent with Sky Alliance Resources, Inc. ("SARI") effective December 20, 2010, relating to a reverse takeover transaction , pursuant to which Westward proposes to acquire all of the issued and outstanding securities of Sky Alliance Ressources Guinee SA ("SAR Guinee") from SARI.

The Transaction is expected to be effected by way of share purchase agreement whereby SARI, the parent company of SAR Guinee, will sell all of the issued and outstanding shares of SAR Guinee to Westward and SAR Guinee will become a wholly-owned subsidiary of Westward, which will change its name to West African Iron Ore Corp. to reflect its new business. SARI is a privately-owned company incorporated under the laws of the British Virgin Islands, with its head office in Hong Kong.

The nominees of SARI that will initially comprise the board of directors of the Resulting Issuer are anticipated to be: Mr Guy Duport - CEO and Director. Mr. Duport has served as the President and CEO of SARI since 2007 and is also the current CEO of Trendfield Holdings Ltd, a British Virgin Islands company having offices in Hong Kong and Beijing.

SAR Guinee holds two iron ore permits in the Republic of Guinea: the Forecariah permit, located 75 kilometers from the capital city Conakry and 25 kilometers from the port of Matakang and consisting of an area of approximately 1,400 km2, and the Kerouane permit, located 400 kilometers from the Forcariah Permit and consisting of an area of approximately 500 km2. All financing to date for SAR Guinee (approximately US$3 million) has been provided to date by SARI through loans from its directors.

SRK Consulting has been engaged to provide a NI 43-101 compliant report on the Forecariah Permit.

Full article at http://www.digitaljournal.com/pr/200815