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Strategies & Market Trends : Winter in the Great White North

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From: teevee	3/26/2014 12:34:09 AM
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West African Resources (ASX and TSX-V: WAF) is pleased to announce that it has completed a 10% placement raising $3 million, before costs, by issuing 23.1 million ordinary shares at 13 cents. The placement was well supported by existing shareholders and high-net-worth individuals. Managing Director Richard Hyde said: “We are delighted with the continued support from existing shareholders and the belief shown by new shareholders joining our register. “The funds raised, along with our existing capital, will be used to fund further drilling and a scoping study for a low capex gold heap leach project in Burkina Faso.” The Company expects to deliver a resource upgrade for its Mankarga 5 Project by the end of this quarter, and complete a scoping study in the first half of calendar 2014. The scoping studies will have a direct focus on a low-cost heap leach starter project, targeting near term cash-flow for the Company from the Mankarga 5 deposit and nearby prospects. Click here to view the full announcement www.westafricanresources.com

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