Latest Research

West African Resources (WAF) - High Grades Running Deep At M1

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 West African Resources (WAF) has released updated drill results from the M1 South deposit at Sanbrado in West Africa. The latest high grade intersections included 29.5m @ 20.7g/t Au and 22m @ 10.5g/t Au. Mineralisation in the southernmost shoot extends down to around 400m below surface with visible gold recorded in the last hole drilled. WAF has five rigs (a sixth arriving this month) drilling out the deeper portions of the main part of M1’s 350m strike extent which is twice the depth of the current reserve used in the Feasibility Study. Argonaut believes the high grades and significant depth extension will result in a significantly increased resource (currently ~300koz), but more importantly, the real value will come from the significant impact to the economics of the optimised Feasibility Study (FS). BUY, TP $0.40ps.   

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