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West African secures $4.4m for Sartenga

West African Resources has completed a $4.4 million share placement to fund exploratory drilling at its Sartenga gold deposit in Burkina Faso.

The placement, which was taken up by technically focused institutional investors and high net worth individuals, was priced at 20 cents per share.

West African said the funds would be used to commence drilling out Sartenga, which is part of the Boulsa gold project, initially using large contractor diamond rigs, then moving on to company owned air core RC and diamond rigs.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 29/07/16

1 year TSR5 year TSR
54thWest African Resources309%-7%
56thBass Metals300%-37%
275thGolden Deeps36%-27%
525thHorseshoe Metals-14%-38%
761stVector Resources-82%-50%
777 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

03/06/16
$0 Issued
01/12/15
$0 Issued
23/03/15
$0 Other
Total value as at the date of the transaction
Source: Morningstar

Revenue

205th↑West African Resources$263k
230th↑Vector Resources$176k
231st↑Bass Metals$172k
233rd↓Golden Deeps$166k
234th↑Horseshoe Metals$166k
527 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from West African Resources

515thRichard Hyde$296k
1543rdSimon Storm$45k
Ranked by total remuneration from all listed WA companies

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