We should see better economics in the DFS than the PEA if the grades are improved as Richard stated.
“These results will significantly improve the oxide grade in the updated resource estimate to be included in the upcoming definitive feasibility study."
Research notes from Hartelys and PCF had a price targets of 30-45 cents based on the Sartenga deposit which has an inferred 651 000 oz gold and 174k/t copper resource estimate.
Its a different market now but since then WAF acquired Channel resources, listed on the TSX-V, upgraded the Mankarga5 deposit and delivered a positive scoping study demonstrating a high margin low cost project.
Once they further upgrade the resource and deliver the DFS they will have more than 2 million ounces of gold just from what they already know about. Between now and then they are drilling through the wet season to see what they have at depth.
The other piece of news I liked was the $120 million streaming deal for Truegolds Burkina Faso project. Good to know Franco-Nevada and Sandstorm Gold see the value of investment there.
WAF V GRY, page-27
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