The WAF share price languishing. One word. Burkina Faso. Ok, two words.
Looking at it very simplistically and broad brush. On 25 October 2021 the day before the Kiaka announcement WAF was $1.40. On the same day Perseus (PRU) another ASX listed African gold miner (Ivory Coast, Ghana) was $1.66. Since 25 October WAF has announced a major acquisition and project in Burkina Faso, Kiaka. Perseus in February 2022 announced Orca Gold in North Sudan. Both companies are tracking well with great outlooks.
WAF has fallen from $1.40 to $1.13 (-21%)
PRU has risen from $1.66 to $1.82 (+10%)
Yes, WAF's forecast production is a touch softer and their short term costs a bit higher. But PRU will also similarly have higher costs.
The variation in prices is 31%.
That's why I say one (two) word : Burkina Faso
It also appears that Burkina Faso political issues are settling. They are also relatively meek compared to Ukraine-Russia issues and perhaps that will make them less serious from a market perspective.
It is quite reasonable that with the background of a rising gold price with momentum, WAF may come out of the Burkina Faso sin bin quite quickly.
WAF share price and gold price actions, page-21
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Last
$1.43 |
Change
-0.025(1.72%) |
Mkt cap ! $1.487B | |||
| Open | High | Low | Value | Volume |
| $1.46 | $1.48 | $1.43 | $1.545M | 1.070M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 17 | 25586 | $1.43 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.43 | 23711 | 26 |
View Market Depth
| Last trade - 11.59am 09/07/2024 (20 minute delay) ? |
| WAF (ASX) Chart |