Updated Hartleys Research - West African Resources Limited
03.03.2016 | FSCwire
Perth, Australia - Hartleys has released updated research on West African Resources, maintaing its Speculative BUY and raising its target price to $0.16/share (previously $0.12/share).Analyst Scott Williamson said the Company’s recent high-grade results were ‘game changing’.
"West African Resources (WAF) has discovered significant high grade mineralisation at the M1 prospect, Tanlouka project in Burkina Faso. The high grades at M1 have shown strong continuity over 300m of strike, within a +1.5km geochem trend. The M1 prospect is likely to increase the mining inventory and add to the current ~7 year minelife at Tanlouka. We believe M1 is increasingly likely to be a high grade open pit mine with potential for a high grade underground opportunity at depth.
The “game changing” discovery of high grade mineralisation at M1 has potential to substantially improve the economics of the Tanlouka project. The anticipated grade improvement could provide an opportunity to investigate conventional CIL processing, as opposed to the heap leach “starter” project. The Company will continue to drill-out the M1 prospect with an aim to announcing a maiden resource estimate during the JunQ."
Click here to view the research report
http://email.launchpadcreative.com.au/t/r-l-ebiihd-qyhlitldk-y/
www.westafricanresources.com