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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 31/03/16

1 year TSR5 year TSR
121stWest African Resources93%-23%
445thMagnetic Resources-18%-29%
489thFYI Resources-25%-21%
532ndGBM Resources-32%-30%
759 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

01/12/15
$0 Issued
23/03/15
$0 Other
20/02/15
$0 Issued
Total value as at the date of the transaction
Source: Morningstar

Revenue

204th-GBM Resources$266k
205th↑West African Resources$263k
207th↓Magnetic Resources$255k
208th↑FYI Resources$253k
535 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from West African Resources

561stRichard Hyde$296k
1632ndSimon Storm$45k
Ranked by total remuneration from all listed WA companies

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