Hartleys Initiates on West African Resources Ltd.
04.12.2015 | FSCwire
Perth, Australia (FSCwire) - Hartleys has initiated on West African Resources with a Speculative Buy and price target of $0.12/share.Analyst Scott Williamson said:
"In our opinion WAF has a robust, low capex, high margin development project which should move into production over the coming years. With the heap leach ‘starter’ project the Company is well positioned to benefit from a turnaround in sentiment for USD gold. The modest funding requirement sees the Company likely to move into production before higher capex peers. We note the US$5m loan facility with Macquarie Bank is to be repaid on the earlier of 30 Sep 2016 or receiving project financing."
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http://email.launchpadcreative.com.au/t/r-l-zuikktl-qyhlitldk-j/
www.westafricanresources.com
Source: West African Resources Ltd (TSX Venture:WAF)
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