Last 2.93 GBp
Change Today +0.125 / 4.46%
Volume 257.7K
As of 11:30 AM 01/23/15 All times are local (Market data is delayed by at least 15 minutes).

west african minerals corpor (WAFM) Snapshot

2.80 GBp
Previous Close
2.80 GBp
Day High
2.93 GBp
Day Low
2.80 GBp
52 Week High
01/28/14 - 9.63 GBp
52 Week Low
01/22/15 - 2.63 GBp
Market Cap
Average Volume 10 Days
-0.0083 GBp
Shares Outstanding
Dividend Yield

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west african minerals corpor (WAFM) Details

West African Minerals Corporation acquires, explores, and develops iron ore projects in Africa. The company, through its subsidiary, Compagnie Minière du Cameroun SA, holds a 100% interest in 5 iron ore exploration licenses that cover an area of approximately 4,000 square kilometers in Cameroon, West Africa. It also holds a 75% interest in 5 iron ore exploration licenses covering a total area of approximately 687 square kilometers in Sierra Leone. The company was formerly known as Emerging Metals Limited and changed its name to West African Minerals Corporation in December 2011. West African Minerals Corporation was incorporated in 2007 and is headquartered in Douglas, the Isle of Man.

Founded in 2007

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Executives, Board Directors

west african minerals corpor (WAFM) Key Developments

West African Minerals Corporation Reports Unaudited Consolidated Earnings Results for the Six Months Ended September 30, 2014

West African Minerals Corporation reported unaudited consolidated earnings results for the six months ended September 30, 2014. For the period, the company reported loss before finance income of £676,892 against £6,352,814 a year ago. Loss before income tax was £670,296 against £6,358,759 a year ago. Loss attributable to owners of the company was £670,296 or £0.0019 per basic and dilute share against £6,358,759 or £0.0221 per basic and diluted share a year ago. Net cash used in operating activities was £571,325 against £963,233 a year ago. Purchase of property, plant and equipment was £3,810 against £156,250 a year ago.

West African Minerals Corporation Completes Infill Drilling at South Sanaga in Coastal Cameroon

West African Minerals Corporation announced results of the infill drilling program on its South Sanaga iron ore license located about 60km from the commercial seaport and infrastructure at Douala and within 10km of the main railway between Yaoundé and Douala. The reverse circulation (RC) infill programme comprised a total of 2,214 meters following up on a successful reconnaissance drilling programme that intersected multiple coarse-grained magnetite gneiss packages. The company has now generated sufficient data to complete a maiden mineral resource estimate in 2015. The RC infill drilling programme at the South Sanaga license was completed on a total of 2,214 meters drilled in thirty-seven holes (SRC004 to 040). Assay results have been received for RC infill holes SRC006 to SRC024; all other outstanding assays are expected by the end of the year. Inclusive of the previously reported 1,729 meters of reconnaissance diamond core drilling in seventeen holes, a total of 3,943 meters of drilling on South Sanaga has been completed to date. Drilling targeted the NW-dipping magnetite gneiss units originally intersected in the diamond drilling programme and these units have now been intersected from surface to a depth of 150 meters.

West African Minerals Corporation Announces Results of Reconnaissance Drilling Program on the South Sanaga Iron Ore License

West African Minerals Corporation announced the results of its reconnaissance drilling program on the South Sanaga iron ore license located about 60 km from the existing port and infrastructure at Douala and within 10 km of the main railway between Yaoundé and Douala. Drilling intersected multiple coarse-grained magnetite gneiss packages with grades and thicknesses sufficient to initiate a follow up drill program designed to deliver a maiden mineral resource estimate (MRE) in early 2015. Preliminary metallurgical test work performed by ALS Laboratories on samples of magnetite gneiss have produced concentrates with iron grades averaging 69% Fe. In addition, at the company's Madina license (EL06/11) in Sierra Leone, all assay results have now been received for the trenching program and confirm a Marampa Group hematite schist exploration target over 1.5km of strike length with an average width at surface of approximately 220m and iron grades of 39-42%. The reconnaissance drilling program which commenced in July of this year at South Sanaga has now been completed comprising 1,729m of diamond drilling in seventeen holes. Drilling intersected several units of magnetite gneiss dipping consistently to the NW at 40-50 degrees. Davis Tube Recovery (DTR) magnetic separation at a grind size of 75 µmyielded concentrates of approximately 69% Fe at average mass recoveries of 48% for fresh, and 35% for oxidised material.


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