Not here to downramp but to share some of my thoughts on this...

Not here to downramp but to share some of my thoughts on this stock as an ex holder for 4 years. I sold all my shares in WAF last year given the bad feelings I had and now invested in NST, which is located in top tier jurisdiction and reasonably priced.

the reasons I sold WAF:

1: the military junta acted the same way as communists in all other communist countries. They promised poor people that they will look after them while blaming the west for economic mistreatments and exploitations. Ironically, there is no fairness in Communism, which brings atrocities to whichever countries adopted its idea.

2: there is no guidelines when the country will return to democracy and hold its first democratic election post coup. The longer the worse the situation. China is a perfect example. Look at the stock market performance in China. The picture is clear. Dictatorship will ruin economy one way or the other.

3. LLL got unfairly targeted by the Mali government. French uranium company was robbed by the government in Niger. It is a big red flag given the political alliance among Burkina Faso, Mali and Niger.

4. the Burkinabe government imposed a levy on gold when the price is above $2,000 without any warnings or notices. Who can guarantee them not to impose anything when gold is much higher? The government already has 10% free shares, 5% royalties, 25% income tax, local community programs and support, and now levy on gold when it’s over $2,000. My question is what’s left for WAF?

5: I had doubts in cash generations for the past 2 years. Why is WAF constantly putting money in capital expenditures? The money it spends for the last 4 years can build another mine alone.

WAF was definitely a great company in the beginning led by a wonderful and wise management. However, it had missed my expectations continuously for the last 2 years. Those are my thoughts and feel free to disagree.