RE: Re Presentation28 Sep 2013 18:25
Hi Paul,
Welcome to the board. I am not a regular poster here either but am very aware of WAFM's exploits and have been invested here over 18 months now.
Thank you for the link. I found it on google and have just browsed through the PDF quickly. Interestingly, slide 24/28 indicates first maiden resource end of September... I theorise that the presentation was therefore WAFM's last opportunity to get new investors on board before announcing the MR to try and maximise the potential gains to be made on announcement. And given that the presentation was delivered on Thursday, we can assume their timelines are relatively on target...so finger's crossed! Remember also that an additional MR of South Djadom is to come not long after - so this could be fasten your seatbelts time, especially in anticipation of the 3rd MR in December for Binga which is already on the coast (nearly) and so makes transport a doddle.
What I have found very interesting with this company is their development of means by which to ship the ore from excavation to port (either by road, or rail), as you mentioned. This is essentially allowing the infrastructure to fully be in place to promote a quick turnaround and get production into play once the resources have been proven up.
This is important for 2 reasons. a) it could provide a means by which to bring in revenue whilst further exploring and developing the other resource blocks, therefore avoiding dilution and increasing the MarketCap of the company. b) for me the more likely option, it will present a full package deal for investors and buyers of the company (much like IMIC's buyout of Afrerro, or the bid for Sundance Resources) - quality iron, lots of it and the facilities in place to ship it quickly. Important to note also is that there is a large percentage of DSO - Direct Shipping Ore, which by its nature has a higher market value.
I don't pretend to be able to interpret very well the diagrams, but I know that WAFM has spent a considerable amount of money on bringing in the most up to date technology to give them detailed overhead analyses of their sites to make the scouting and drilling a far more efficient process. And it seems with several very large intersecting anomalies, they may well have pulled off something quite impressive in taking their time and spending a bit more money than planned.
And if all that wasn't enough, their is a fantastic board, a VERY successful investor for a non-executive chairman, and the fact that the board bought in in large chunks at 50p earlier this year.
Very best of luck to you here...I hope this proves to be a successful investment for all involved. GLA - EP