WAF 3.63% $1.50 west african resources limited

So I went and read the May 22nd technical report to try and get...

  1. 531 Posts.
    lightbulb Created with Sketch. 146
    So I went and read the May 22nd technical report to try and get a better understanding of this. There are two things I’m hoping others can comment on.

    1) Esh is right, the reserves for WAF are purely in the Probable category, not Proven. Is this normal for developing gold miners? I would have thought that you would want a proven reserve before committing to debt funding and construction.

    2) On page 18, it says they used a $1,650US per oz figure in the pit shell design for mineral resources. This price seems extremely high, can anyone comment on this?


    Technical report here:

    http://www.westafricanresources.com/category/technical-report/
 
watchlist Created with Sketch. Add WAF (ASX) to my watchlist
(20min delay)
Last
$1.50
Change
0.053(3.63%)
Mkt cap ! $1.485B
Open High Low Value Volume
$1.47 $1.51 $1.46 $1.366M 921.0K

Buyers (Bids)

No. Vol. Price($)
1 12 $1.50
 

Sellers (Offers)

Price($) Vol. No.
$1.50 42761 16
View Market Depth
Last trade - 10.38am 08/07/2024 (20 minute delay) ?
WAF (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.