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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 30/11/17

1 year TSR5 year TSR
171stWest African Resources73%4%
236thCassini Resources44%-4%
687thNexus Minerals-40%-1%
727 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

09/11/17
$0 Issued
09/11/17
$0 Issued
03/06/16
$0 Issued
Total value as at the date of the transaction
Source: Morningstar

Revenue

192nd↑Nexus Minerals$211k
193rd↑West African Resources$210k
195th↑Cassini Resources$200k
196th↑Dynasty Resources$190k
491 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from West African Resources

472ndRichard Hyde$296k
1376thSimon Storm$45k
Ranked by total remuneration from all listed WA companies

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