Ann: Quarterly Activities Report, page-4

Well... sov. risk is worth something , hard to estimate what but WAF does look fairly safe .
I wouldn't want to be too overweight in Africa personally though .
But I just tend to think WAF has had a good run and is having a rest .

No doubt undervalued , little doubt that it will get a lot higher but in it's own time .
Apart from anything else the average investor likely not as knowledgeable about the stock as many posters here .

I've been in this position with other stocks and it has just taken time for the market to wake to things that some of us concerned with those stocks were just a bit quicker realising .
At some point investment funds will want to top up or take a position and that will certainly push price up .