West African Iron Ore Corp. / "Republic of Guinea" - 500 Beiträge pro Seite

[Ahorne]

Hallo Miteinander

Duch folgenden Bericht bin auf "West African Iron Ore Corp." WAI.V gestossen:

China Eyes West Africa’s Iron Ore: Junior Posts Positive Drill Results
http://www.marketoracle.co.uk/Article30680.html


Kursverlauf sieht übel aus.

Ich bin ein wenig am recherchieren was die Gründe für den Kursverlauf sind.
Und ob auch Changen lauern.

Über eine rege Disskussion würde ich mich freuen

kennt sich jemand mit den Verhältnissen in "Republic of Guinea" aus?

Cheers


Homepage:
http://westafricanironore.com/

Presenation:
http://westafricanironore.com/wp-content/themes/waitheme/pdf…

Share Capital per 30. Mai 2011:
Korrekturen bitte melden:

175 Mio. Stück Aktien
Diluted ca. 265 Mio. Stück Aktien

& http://westafricanironore.com/wp-content/themes/waitheme/pdfs/news/Listing_Share_Purchase_Warrants_0n_August022011_July_29_2011.pdf

= Diluted ca. 310Mio. Stück Aktien

[Liebesleid]

Allein dieses Zitat von der Homepage reicht mir persönlich schon für einen ersten Eindruck:

"Infrastructure is the key to economic viability of an iron deposit. This project is very close to a proposed port, with a rail line planned to cross the property. In fact, the project is so close to potential port facilities that they are considering their own dedicated transport system. The very favorable location relative to the port (?) adds substantial value to this project"


Da gibt es Moment sicher bessere Eisenerzexplorer

Meine Meinung

[bvasel]

Es gibt allgmein bessere Möglichkeiten im Moment. Aber Potential wäre schon vorhanden...

[Popeye82]

Antwort auf Beitrag Nr.: 42.155.000 von Ahorne am 30.09.11 12:25:50

Die angenommene Resourcenphantasie scheint mir schon berechtigt.

KÖNNTE denke ich mal n Mega sized-Deposit werden. Wie es dann unter dem Strich/in der Gesamtbetrachtung(v.a. was die Situation des Landes, Minenreformen, sowie die weiteren Rahmenbedingungen) aussieht, kann ich aber nicht einschätzen. Rein von der Resourcenphantasie würde ich schätzen, dass -wenn sie es "durchexplorieren"- hier "wahrscheinlich eine der nächsten Neuentdeckungen "im Umfang paar Milliarden Tonnen" ansteht"(die Basis Derer angegebenen alten Daten spricht m.A.n. einfach dafür). Winston's Growth Stock Report covert die soweit ich weiss.

Gruß
P.

[Popeye82]

Antwort auf Beitrag Nr.: 42.159.376 von Popeye82 am 01.10.11 20:38:11

"West African Iron Ore Update (WAI, TSXV)

In conversations I have had with seasoned stock investment pros over the last few weeks, the common theme of the discussion is that “I’ve never seen the market so bad.”

When it comes to my specialty, small cap mining venture stocks, I must agree.

However, this isn’t all doom and gloom. As the well known Chinese saying goes, “Crisis = Danger and Opportunity.”

The world’s economic crisis is well documented in the news every week as are the associated dangers. So rather than dwell on the obvious, let’s instead look at the opportunity.

First let’s recap the general state of the small cap venture market. It is obvious that the speculative premium given to most junior mining stocks is zero. In a good market, investors will bid up the price of stocks as they see the potential of that company making a discovery or building a mine. Not so today.

The vast majority of junior stocks are trading well below their initial private placement financing prices. In fact many are trading like shell companies – those with no projects at all – trading for pennies with no value given to the multi millions those projects may have received in exploration and development. And therein is the opportunity.

We have a number of great junior companies we are following that have enormous potential but are getting zero respect in the market.

I’ve been saying for years that the objective on Winston’s Growth Stock Report is to find stocks with triple digit return potential. Today, I am looking at the price of some of these stocks and thinking, wow – there’s potential for getting 10 baggers here. That’s 10 times your money in return.

My strategy is the same as always. The criteria is to find stocks with a high potential mining property, excellent management, and the financing in place to get the project to actual production or at least to the stage where the project can be sold off to a blue chip company.

Today I see a great bottom fishing opportunity with one such company that we’ve been following since May - West African Iron Ore (WAI:TSX.V). Now trading at around 10 cents the upside potential is enormous.


Summary

WAI is an early stage iron ore exploration company working in Guinea, West Africa. This is an area of the world where iron ore mining will become a major contributor to that country’s GDP. Three blue chip mining companies are operating there including Rio Tinto, who is developing not only a mine but a rail line which will run across WAI’s property.

Historical data suggests that WAI could be sitting on a sizable deposit. Their lead Forécariah Project has been given a projected deposit size of between 2.9 – 5.1 billion tonnes. The plan now is to verify that they do indeed have an economic deposit. To that end, they are now awaiting the results of their Phase I drilling program. Sometime this fall about 50 drill holes in all will be completed leading the way for their first compliant inferred resource estimate.

So far the results of the Phase I drilling are limited to just three holes from the Sambalama prospect, one of which crumpled into powder so its core couldn’t be analysed. The other two holes looked promising.

Two key observations can be drawn from these two holes. One is that they are very high grade and two, they are close to surface. Hole SAM002 started at just 2.28 meters from surface and returned 11.47 m grading 63.18% Fe. Hole SAM003 started right from surface and returned 8.20 m grading 68.65% Fe.

Being close to surface means mining costs are extremely low; a backhoe could easily extract the ore. The grading of the ore from these two holes is so high that it would be classified as DSO or Direct Shipping Ore that could be sold to the end user without further processing.

That’s a decent start. The mineralized strike length at Sambalama would suggest perhaps 800 meters at this point however more infill drilling will be needed to confirm the continuity of the strike.

The Phase I drilling plan included 17 diamond drill holes totalling 5100 meters and 34 Reverse Circulation drill holes covering 10,200 m. It’s these RC holes that should be most interesting as the diamond holes, as in SAM001, had trouble attaining an intact core sample to analyze.

A Phase II program will be initiated based on Phase I results with a planned budget of $10 M, estimated to be completed by April of 2012.


China

As I mentioned in my initial report, China is the driving force behind world’s iron ore demand which is estimated to be growing by 10% per year. China, the world’s largest iron ore consumer, imported 618 million tons of iron ore last year, and most of that was supplied by global miners BHP Billiton, Rio Tinto and Vale, all of whom operate in Guinea.

Beijing has indicated they want to secure their iron ore sources themselves by investing in mining projects like those found in West Africa, where they have established some deals already. Their deals in West Africa could produce nearly 250 million tons of ore annually in the medium- to long-term.

The Chinese government has stated they have a goal of being self sufficient in iron ore by 2015 which seems like an improbable timeline, however it does speak volumes about their intention to acquire projects.

This is where the expertise of WAI’s CEO, Guy Duport, comes into play. As I stated in my earlier report, “Guy is a rather unique individual having a Masters degree in European commercial law, is a member of the Society for Mining Metallurgy and Exploration in Colorado, has consulting offices in Hong Kong and Beijing where he is fluent in Chinese, and has close political ties with the leaders in Guinea. You would be hard pressed to find a more perfect man to run an up and coming iron ore company in Guinea where the ultimate buyers are likely Chinese.”


Infrastructure

The Forécariah property is just 90 Km east of the capital city of Conakry and has good road access. Rio Tinto is currently developing a mine in Guinea with a proposed rail line which crosses over the Forécariah project. Guy Duport hypothesized that WAI could perhaps hook in to that rail line which would be a huge coup for the company. However the close location to the shore provides the opportunity for a belt system to be used to transport the ore to a deep water port.

As an interesting aside, and to demonstrate China’s eagerness for iron ore, last year the Chinese announced they would invest US$2.7 billion in a 286 km railway and in port facilities in return for 100% off take of Bellzone Mining’s (BZM, LSE) ore. Again, a deal with the Chinese to piggy back their rail and port facilities are ideas which Duport is considering. This is where his language and Asian business presence comes into play.

According to a Bellzone press release dated July 4th, 2011 “Route of the first 74km of the railway from the proposed port of Matakan to Moussaya has been agreed in principle with the Government.”

The Matakang Deep Sea Port is 40 km from WAI’s main targets such as Sambalama and Kalyadi.


Conclusion

With WAI trading at around 10 cents, it represents a good bottom fishing opportunity. The company is trading close to cash value where they will have $ 6-7 million in the bank once the Phase I drill program is complete.

The true potential of this stock won’t be clear until a 43-101 resource calculation is completed. We can expect to see an initial 43-101 out by late Q4 or early Q1.

Over the coming months, if the drilling proves WAI has an economic deposit, the possibility of a buyout by the Chinese would be realistic. Since the Chinese already have a high interest in buying iron ore projects and are already active in Guinea, the potential for a 10 bagger seems very possible.

This project has phenomenal infrastructure, very close to the port and rail, which makes the economics of high grade DSO surface iron ore deposit very attractive.

Accumulate as a possible 10 bagger. "

[ooy]

Antwort auf Beitrag Nr.: 42.159.385 von Popeye82 am 01.10.11 20:52:54

Danke, hochinteressant...

[ooy]

Antwort auf Beitrag Nr.: 42.155.000 von Ahorne am 30.09.11 12:25:50

Sorry. Danke Dir natuerlich auch fuer die Threaderoeffnung...

[Ahorne]

Antwort auf Beitrag Nr.: 42.160.337 von ooy am 02.10.11 16:57:26

Kein Problem Popeye82 hat ja auch schon gute Info geliefert.

Was ich nicht ganz verstehe:

Das Projekt Forécariah besteht derzeit auf zwei Teilgebieten:

A total of 15 diamond drill holes have now been completed on its extensive iron ore concessions in Guinea. Of these, 5 holes totalling 1224.5m were completed at Kalyadi, and 10 holes totalling 1661.0m at Sambalama. A total of 19 RC drill holes (totalling 2279 m) have been completed at Sambalama.

SMA = Sambalam sehen die Resulate ermutigend aus:

http://westafricanironore.com/wp-content/themes/waitheme/pdf…

KAM = Kalyadi wurde bei 3 Bohrlöcher keine Wirtschaftlichkeit festgestellt... Heisst das jetzt das bei KAL gar nichts gefunden wird oder verstehe ich da was falsch???

At Kalyadi the diamond drill holes KAL001, KAL002 and KAL003 were drilled as part of the ongoing investigation of possible infrastructure routes across WAI’s property that would link to the proposed new deep-water port at Matakang. These holes have confirmed that mineralisation is limited in this area of the property and of little potential economic interest.

The field analysis of all RC samples as part of the logging process has commenced using Niton XRF analysers and these results will be used to guide the selection of intervals to be sent to SGS for complete chemical assay. Half core samples for all remaining diamond holes have been sent to SGS in Johannesburg and WAI is awaiting results.

Detailed surface mapping along closely spaced sections has started at Kalyadi and Sambalama where Fugro has been contracted to conduct ground gravity surveys later in the year when ground conditions permit to assist in the identification of further drill targets on these prospects.

[ooy]

Antwort auf Beitrag Nr.: 42.160.513 von Ahorne am 02.10.11 19:34:18

Das sieht so aus, Kalayadi scheint unwirtschaftlich zu sein, es ist ein sehr riskanter Fruehexplorer, ich muss mich da aber auch noch intensiv einlesen, Bellzone scheint mir in dem Bereich aber wesentlich aussichtsreicher...

[Popeye82]

Antwort auf Beitrag Nr.: 42.159.385 von Popeye82 am 01.10.11 20:52:54

also seine "conclusions von wegen "conservative speculation" " würde ich jetzt so nicht unterschreiben, aber kleines Update von dem Typen( http://finance.yahoo.com/news/West-African-Iron-Ore-Corp-cnw… ). Aber wenn Bellzone seinen Weg gehen sollte, dann könnte das IMO u.U. ein nicht so unähnlicher Kandidat sein, der Ihnen mit einiger zeitlicher Verzögerung folgen/einen ähnlichen Weg einschlagen könnte. Für mich vorerst nichts, irgendwann später vielleeeeeicht ma. Erste Resourcenbekanntgabe "aktuell" gegen Ende Q1 ´12 erwartet:

"West African Iron Ore (WAI, TSXV)

More Results from Phase I drilling show a Continuation of High Grade Iron Ore

Further to my last update, WAI has intersected near surface and sub-surface, high-grade iron ore mineralization in its second set of three (3) diamond drill holes from the Company's phase one drilling program.

As with the first 3 diamond drill holes, the core recovery was poor however 88 Davis Tube Recovery Tests conducted on selected composite samples from SAM004 to SAM006 indicate good recovery and grade >70% Fe.

Further work was also done on the SAM003 drill hole showing continuous high-grade mineralization from surface to a depth of 14.2 meters at an upwardly revised average grade of 70.53% Fe.

Diamond drill hole SAM004 recorded three (3) magnetite intersections with a combined length of 32.8 meters and average iron grade above 30% Fe.

Diamond drill hole SAM005 recorded two (2) magnetite intersections with a combined length of 12 meters with average iron grade above 30% Fe. This hole was stopped at 63.8 meters due to our drilling contractor losing the diamond drill head at that depth.

Diamond drill hole SAM006 gave three (3) magnetite intersections with a combined length of 44.8 meters and average iron grade above 29% Fe.

At this early stage they are getting a good sniff of high grade iron ore however it’s clear that in order to attain solid resource calculation Reverse Circulation drilling will be required. To that end an aggressive RC program along a 9,000 meter magnetite strike will run for the next two months and will target an estimated 8,000 meters over 80 drill holes.

This will be part of a 630 RC hole program which will run across indentified strike. The main objective will be an initial 43-101 compliant resource report by the end of Q1 of 2012.

A Phase II program will be initiated based on Phase I results with a planned budget of $10 M, estimated to be completed by April of 2012.


African Commodity Development

Reuters reported that Africa's mining sector has taken off in the past few years, with companies now willing to explore there despite the historical instability. With demand for iron ore and other commodities still on the upswing more mining companies seem to be willing to invest in Africa.

David Joyce who heads up Rio Tinto’s iron ore development projects says "We believe many African countries will be well placed to meet this demand." Rio Tinto is one of three blue chip mining companies working in Guinea, West Africa where WAI is developing their iron ore project.


Iron Ore Demand

Iron Ore has been a hot commodity all year and this is largely based on demand from China. It seems most financial gurus are focusing closely on China’s purchasing right now to get an idea how this will affect the markets. Generally, many commodity purchases have slowed however iron ore demand is still looking strong. Last month iron ore imports to China hit a high for the year at 60.57 million tonnes in September, up 2.5% from August. Year to date ending in September, iron ore sales are up 11% over the previous period in 2010.


Conclusion

West African Ore is trading at about cash value right now with next to no value being placed on their prospective assets.

I know this is a bad market but at some point these assets when proven up will have an inherent market value to prospective purchasers like the Rio Tinto’s of the world. It seems like a conservative speculation at this point. "

[SEPP_EIXLBERGER]

West African Iron Ore Corp. - V.WAI:CDX 0.17 +0.045 +36.00%

Price Change % Change Volume Day High/Low 52 Week High/Low
0.17 +0.045 +36.00% 2.37 m 0.20/0.13 0.55/0.06
Last Traded:
01/06/2012 15:08 Transaction Volume
18000

Open
0.135 Prev. Close
0.125

Bid
0.165 Ask
0.17

Bid Size
142000 Ask Size
42500

Market Cap (Mil)
29.75 m Shares Out (mil)
175,007,548

[Popeye82]

Zitat von Popeye82: also seine "conclusions von wegen "conservative speculation" " würde ich jetzt so nicht unterschreiben, aber kleines Update von dem Typen( http://finance.yahoo.com/news/West-African-Iron-Ore-Corp-cnw… ). Aber wenn Bellzone seinen Weg gehen sollte, dann könnte das IMO u.U. ein nicht so unähnlicher Kandidat sein, der Ihnen mit einiger zeitlicher Verzögerung folgen/einen ähnlichen Weg einschlagen könnte. Für mich vorerst nichts, irgendwann später vielleeeeeicht ma. Erste Resourcenbekanntgabe "aktuell" gegen Ende Q1 ´12 erwartet

Graphiken bitte Link entnehmen. Den Vergleich mit Champion Minerals Inc. halte ich für Schwachsinn:

Moving Towards Initial Resource Calculation, West African Iron Ore(WAI, TSXV) - WGSR - Feb 16, 2012
http://vanguardsolutions.ca/i/pdf/12-02-16%20WAI%20Winston%2…

"Recent drilling campaign finds high grade iron ore +additional highly prospective targets.

Iron ore has been getting a buzz in the media recently based on forecasted high demand from the Chinese. Junior iron ore exploration companies that can prove up compliant resources are commanding high market cap valuations. Stock investors should be looking @companies building resources in this sector which have close proximity to transportation facilities, Getting the ore to the market efficiently is key.

According to Morgan Stanley, Chinese infrastructure spending will reach $1.000.000.000.000 this year +keep growing to $1.800.000.000.000 by ´17. Currently ~60% of Chinese demand is met by imports where BHP Billiton, Rio Tinto +Xstrata are the world's top producers.

Beijing has indicated they want to secure their iron ore sources themselves by investing in mining projects like those found in West Africa where they have established some deals already. The Chinese government has stated they have a goal of being self sufficient in iron ore by ´15 . If that's true, they'll have to go on a serious buying spree to secure resources +I think WAI has a number of key advantages which the Chinese will like: A high potential property, good location to infrastructure +transportation, +a management team with roots in China.


Forécariah iron ore project

West African Iron Ore's lead play is the Forécariah iron ore project in Guinea, where the company has been actively drilling with the goal of a 43-101 resource estimate completed by the end of Q4 ´12.

The Forécariah property is a massive series of exploration permits totaling 1.468 sq. km. Historical geological data suggests four separate areas where the key elements magnetite quartzite +magnetite schist are found in thicknesses ranging from 30 to 400 meters +mineralized strike lengths of 3 to 11 kilometers. In March ´10 Sky Alliance did a 9.464 line airborne survey of a series of target zones with the largest showing a 1.500 meter width over a strike length of >16 kilometers.

SRK Consulting has been hired to provide a compliant 43-101 resource report on the project. Initially WAI management was expecting to prove up 750.000.000 tonnes in short order. Based on historical data, SRK is "theorizing" that the iron ore deposit "could be" a massive 5.000.000.000 tonnes or more spread over 10 target areas, +that the mineralization could extend to 200 meters from the surface.

Of course this conceptual target can only be proven out by drilling . To that end, last April WAI initiated a 15.000 meter PhaseI drilling program. The drilling was initially hampered by rain but by October WAI announced that they got their 1st indication of high grade mineralization @the Sambalama target where hole SAM 3 had an outstanding return of 14.2 M of 70.53% Fe. The high grade results initiated an aggressive Reverse Circulation drill program along a 9.000 meter strike @Sambalama.

In early November ´11, the results of the 1st six RC holes again showed high grade intersects with two of the holes SAMRC 001 & 008 having grades +chemistry suggesting that the ore could be shipped with minimal processing, called Direct Shipping Ore or DSO. Later in November more results showed substantial intersections of near surface +sub-surface, high-grade iron ore mineralization. Three more RC holes, SAMRC 012,013 & 018 were identified as DSO. Another hole SAMRC 011 had high grade mineralization from the surface to 120 meters grading 28% Fe.

Sambalama has turned out to be a major discovery area +the results will be incorporated into the company’s 1st 43-101 resource estimate. Sambalama is but one/ten targets identified that cover a combined 45 km strike over the Forécariah permit.

Sambalama’s proximity to a planned rail line +being just 40 km from the proposed deep sea port make its location very attractive for potential joint venture partners or outright buyers. Of course you have to have a good deposit. So far it’s looking like a fantastic deposit. Not only has the mineralization been high grade iron ore but the high grade DSO is making Forécariah’s value potentially much greater.

Just a couple of weeks ago on January 23rd WAI reported more high grade intersections +a summary of results from a new total of 19 RC holes. Mineralization has been found from the surface to as deep as 120 meters with an average mineralized interval of 46.63 meters.

As of January 23 WAI completed 2.168 M of diamond drilling +4.506 M of RC drilling on the Sambalama target with a further 1.923 M diamond drill holes on the Kalyadi target. This month 5.000 M of diamond drilling will continue on these two targets. The company’s 1st resource estimate is expected before the year end.

In other more recent news, two new exploration targets have been identified. The Wondima target was found along the northern extension of the Sambalama/Kalyadi magnetic anomaly +consists of several zones in excess of 50 square kms.

A 2nd new target is called Kantinbanga which appears to have a strike length of ~2 kms by a width of @least 500 m.


Well Located near Infrastructure

For any buyer or joint venture partner who is looking to acquire an iron ore project, especially in West Africa, a major concern is having the transportation infrastructure in place to get the ore from the mine to a port for shipping.

The Forécariah property is just 90 kms east of the capital city of Conakry +has good road access. From the map below, the property is outlined in white. Rio Tinto is currently developing a mine in Guinea with a proposed rail line which crosses over the Forécariah project. Company president Guy Duport "hypothesized" that WAI could perhaps utilize that rail line which would be a huge coup for the company. Alternatively, their close location to the shore provides the opportunity for a conveyor belt system to be used to transport the ore to a deep water port.

The Samabalama project is located just 40km from the proposed deep-sea port recently announced by the Guinean government. This means the operating costs would be lower than other projects in West Africa thus enhancing the value of the property.

Another rail line is proposed for the Bellzone Mining Kalia joint venture with China. The Chinese are fully funding the construction of the rail system and port facilities as part of their acquisition. As stated by Bellzone, this construction will be “multi-user infrastructure required to support the export of iron ore from the Kalia Mine Project +other projects that will be developed in the area.”

The majority of the 75 kms railway runs directly through WAI’s Forécariah permit. Again, a deal with the Chinese to piggy back their rail +port facilities are ideas which Duport is considering. This is where his language +Asian business presence comes into play.

As another sign of serious Chinese involvement in Guinea, the Chinese have been approached by the Guinean government to help build a 135 MW hydro power plant within the Forécariah region.


Management

The likely joint venture partner or buyer of WAI will be Chinese. This is where the expertise of WAI’s CEO, Guy Duport, comes into play. As I stated in my earlier report, “Guy is a rather unique individual having a Masters degree in European commercial law, is a member of the Society for Mining Metallurgy +Exploration in Colorado, has consulting offices in Hong Kong +Beijing where he is fluent in Chinese, +has close political ties with the leaders in Guinea . You would be hard pressed to find a more perfect man to run an up +coming iron ore company in Guinea where the ultimate buyers are likely Chinese.”

As a private investor, I’m always interested in who some of the larger institutional investors are. This is usually a sign of financing security +a confirmation for me that I’m not the only one who likes a particular deal. Some of the biggest names in exploration mining +financing also like this project . Some of the pro investors involved with this deal read like the who’s who of the exploration mining business .

Robert Friedland is an investor in this company and is also the founder, Executive Chairman and CEO of Ivanhoe Mines. Ivanhoe Mines is developing giant copper-gold +coal reserves in Mongolia. Forbes has estimated his personal fortune to be ~$2.000.000.000 which he made from various mining projects around the world which also includes the famous Diamond Fields nickel discovery @Voisey’s Bay. That was our 1st big winner back in ´95 when that penny stock took a strong run up to $130 dollars/share.

Mr. Sam Magid is another shareholder, one of the co-founders of Salman Partners in ´94, +currently the principal +controlling shareholder of Peninsula Merchant Syndications Corp., a private merchant bank.

Mining financier Frank Giustra also holds a significant position. He is the former head of Yorkton Securities +went on to create Endeavour Financial which helped create many of the success stories we have followed, the most notable being the penny stock Wheaton River which morphed into to Goldcorp.

Paul Matysek is the Chairman of WAI. Mr. Matysek always seems to be in the right place @the right time . He is a true visionary in predicting the next hot sector of the commodities market . Matysek foresaw the uranium run up, +merged Energy Metals Corporation with a major uranium producer in a deal valued @>$1.800.000.000 early in ´07. He also created one of the 1st public potash companies which we all cashed in on when his Potash One stock was bought out for $4.50/share last November. Now he’s bringing his Midas touch to WAI .


Conclusion

The speculative value of WAI shares today is 13 cents. SRK is "theorizing" that the iron ore deposit here could be a massive 2.900.000.000 to 5.100.000.000 tonnes. As investors "we are speculating that if SRK Consulting is even half right about their theoretical model then we could be sitting on a huge capital gain over the next couple of years".

Here’s an example of the upside. Champion Minerals(CHM, TSX) has drill proven 2.200.000.000 tonnes of iron ore with production slated for ´15. Their current market cap is $154.000.000 @a share price of $1.75. Going by the success that CHM has had in the market, if WAI can prove up an equal resource I estimate their share price would approach $1 given their present share structure.

It all comes down to drilling success. So far it’s looking good. There’s a lot more drilling to do before we have proof but that’s why the stock is trading @13 cents. Certainly the access to rail +the close proximity to port are big selling features for a joint venture partner. So is the high grade +Direct Shipping Ore they have found so far. Certainly the management team is top shelf.

Over the coming months, if the drilling proves WAI has an economic deposit, the possibility of a buyout by the Chinese would be realistic. Some analysts are forecasting that the Chinese will invest $25.000.000.000 over the next five years to secure their iron ore needs with most of that being spent in West Africa. Since the Chinese have already invested heavily into Guinea it makes sense that WAI would be a company they want given they continue to prove up their resources.

Canaccord Genuity of Vancouver is helping WAI identify strategic partners in China by talking with a number of iron ore producers, consumers +investment funds in China. Guy Duport stated that “The keen interest expressed by a number of potential strategic partners with which we have consulted, gives us confidence that our future financing plans are achievable without imposing an undue burden or dilution upon our balance sheet +shareholders.”

If you haven’t done so already, put WAI on your radar screen. "

[SEPP_EIXLBERGER]

Antwort auf Beitrag Nr.: 42.769.687 von Popeye82 am 17.02.12 19:25:48

Popeye,
du bist der beste. Danke für die Info!


http://canadianinsider.com/node/7?menu_tickersearch=WAI+%7C+…

As of 11:59pm ET February 18th, 2012
Filing
Date Transaction
Date Insider Name Ownership
Type Securities Nature of transaction # or value acquired or disposed of Unit
Price
Jan 3/12 Dec 28/11 Duport, Guy Direct Ownership Common Shares 10 - Acquisition in the public market 500,000 $0.130

Dec 19/11 Dec 13/11 Duport, Guy Direct Ownership Common Shares 10 - Acquisition in the public market 110,000 $0.090


Sep 20/11 Sep 14/11 Sky Alliance Resources, Inc. Control or Direction Common Shares 10 - Acquisition in the public market 197,000 $0.095

Dec 19/11 Mar 31/11 Duport, Guy Direct Ownership Common Shares 00 - Opening Balance-Initial SEDI Report
Sep 20/11 Mar 31/11 Sky Alliance Resources, Inc. Control or Direction Common Shares 00 - Opening Balance-Initial SEDI Report

[Popeye82]

Antwort auf Beitrag Nr.: 42.773.466 von SEPP_EIXLBERGER am 19.02.12 12:04:17

Einige von Denen die Du verfolgst halte ich auch für interessant(bei RVD.TO bist Du z.B. meiner Ansicht nach "spekulativ in dem Bereich gut aufgehoben").


Bei Eisen könntest Du Dir z.B. auch mal Canadian Orebodies(CO.V), Centaurus Metals(CTM.AX) und Rogue Iron Ore(RRS.V) anschauen.

Gruß
P.

[ooy]

Danke fuer die Hinweise, RRS halte ich und CO finde ich aeusserst interessant, bei 0,20 waere ich sicherlich eingestiegen, jetzt warte ich erstmal ab, aber WATCHLIST, selber halte ich AXI und FE, CHM habe ich bereits versilbert...

[Popeye82]

Zitat von ooy: selber halte ich ... und FE

Welche sind das?

Gruß
P.

[ooy]

Antwort auf Beitrag Nr.: 42.774.172 von Popeye82 am 19.02.12 17:08:58

Advanced Exploration und Cuervo...

[SEPP_EIXLBERGER]

Zitat von Popeye82: Einige von Denen die Du verfolgst halte ich auch für interessant(bei RVD.TO bist Du z.B. meiner Ansicht nach "spekulativ in dem Bereich gut aufgehoben").


Bei Eisen könntest Du Dir z.B. auch mal Canadian Orebodies(CO.V), Centaurus Metals(CTM.AX) und Rogue Iron Ore(RRS.V) anschauen.

Gruß
P.

Danke fur deine Einschätzung und deine Vorschläge(v.CO kenne ich schon,die anderen zwei werde ich demnächst unter die Lupe nehmen)


RVD gilt für mich als "unenteckte Perle".Die Chansen sind groß,das Potenzial enorm,das Risiko "relativ" gering.Vor allem das Sergi Project,die ersten BE sind sehr,sehr gut(16m 25%KCL + 61m(45m) caranallitite-BE kommen ende des Monats)die Geo-politische Lage ist hervorragend.Brasil- 3 grösster Potash konzument und der größter Potash Impoteur ,90% wird importiert aus Can,Rus,... nur 10% ca. 700kt wird in Sergipe produziert(Vale).Brasil der größte Expoteur von Rindfleisch,Geflügel,Zucker,Kaffe und O-Saft,über 400 Milionen Hektar Ackerland(nur 15% werden für landwirtschaftliche Zwecke genutzt.Lockale Politiker haben das Problem längst erkannt.Gouverneur Deda ist ein kluger Mann und wie der Stephen Keith sagte:“Brazil is, to me, one of the best places to invest. But you only do it if you have smart local partners … and you foster the right relationships,” die Politik macht mit! Alles andere im RVD-thread!

Die letzten Wochen habe ich mich mehr mit den Australier beschäftigt.Überwiegend Kohle und Fe-Explorer.Sehr viele und interessante Werte entdeckt,einige sind fleißig am bohren,( im Bowen Basin,Mongolei,SE-Africa,W-Africa...).

Eine Frage;Was hältst du vom WGO? (target 1-2 Mrd.t.DSO Fe,drilling läuft)

Danke und weiter so!
S.E.

[Popeye82]

Antwort auf Beitrag Nr.: 42.774.728 von SEPP_EIXLBERGER am 19.02.12 20:36:45

Hallo Sepp,

Zu Waratah Resource kann ich Dir nichts sagen, aber ich muss sagen dass Brasilien(nicht nur, aber in der Hauptsache was Rohstoffwerte angeht) bei mir seit einiges Zeit" mit auf die erste Ebene gerutscht ist, was Länder angeht".

Momentan bin ich da nur mit einem Unternehmen vertreten(EGE.V, wo ich mir aufgrund letzter Entwicklungen noch nicht sicher bin ob ich die weiter halten werde), aber es hätt schon noch Platz für den ein- oder anderen mehr. Die (börsennotierten)Explorer/Developer in dem Land haben in den letzten vielleicht 2, 3Jahren erheblich zugenommen, ein paar Kandidaten gäbe es schon. Aber wahrscheinlich wird, in dem Zusammenhang, als einer der nächsten erstmal Centaurus Metals in mein Depot gehen.

Gruß
P.

[AcrossAsia]

wirklich ein sehr informativer thread.....

Fundamental Research Corp. mit Kaufempfehlung


http://vanguardsolutions.ca/i/pdf/12-02-22%20WAI%20F%20undam…

Das Volumen mit gut einer Mio gehandelten shares heute lässt gutes erahnen.

Grüsse AcrossAsia

[reini81]

Hallo in die Runde!

...bekannte Gesichter...

Beste Grüße
reini81

[reini81]

Antwort auf Beitrag Nr.: 42.792.290 von reini81 am 22.02.12 22:19:53

Insteressant finde ich vor allem die Nähe zum Port, DSO und die geplante railway zur Versorgung der in diesem Gebiet aktiven Big Player (Bellzone etc.)!

Gruß
reini81

[Popeye82]

Zitat von Popeye82: Since the Chinese have already invested heavily into Guinea

Da scheint sich wirklich eine ganze Menge beim Eisen in Guinea zu tun. Hatte noch 1, 2Andere gesehen, Deren Namen ich grad nicht mehr weiss, aber die hier, nicht gelistet/Pre IPO-Unternehmen(?), scheinen in dem Land auch einiges vorzuhaben. Also da könnten sich schätze ich durchaus noch einige weitere Möglichkeiten/"follow up stories" entwickeln, wenngleich ich die politische Landschaft sehr schwer einzuschätzen finde:
www.giolimited.com/pdfs/Guinea%20Iron%20Ore%20Presentation%2…

Gruß
P.

[shareholder4]

Antwort auf Beitrag Nr.: 42.795.658 von Popeye82 am 23.02.12 13:39:04

bellzone meinst du vielleicht? wenngleich die auch kurz vor produktion stehen...

[Popeye82]

Antwort auf Beitrag Nr.: 42.795.852 von shareholder4 am 23.02.12 14:09:15

Nein, ich meinte eher dass sich abseits der börsennotierten Landschaft auch einiges zu tun scheint(was, meiner Erfahrung nach, dann später auch nicht selten Anlagemöglichkeiten werden(in dem Falle waren die auch auf irgendeiner Anlegermesse vertreten(PDAC??), von daher noch wahrscheinlicher)). Guinea Iron Ore Limited(siehe Link).

Gruß
P.

[AcrossAsia]

Der Makler hat offensichtlich etwas gegen den steigenden Kurs....mit 500 Stück wird der Kurs 3 Minuten vor Handelsschluss von 0,16 CAD auf 0,15 CAD zurückgeholt......

http://www.stockhouse.com/financialtools/sn_level2.aspx?qm_p…

Dieses Video könnte das Interesse weiter steigern:

http://www.investmentpitch.com/

[ooy]

Antwort auf Beitrag Nr.: 42.822.308 von AcrossAsia am 28.02.12 23:00:37

Laeuft leider sehr sehr schleppend...

[AcrossAsia]

Antwort auf Beitrag Nr.: 42.822.743 von ooy am 29.02.12 03:06:26

Da hast Du leider recht. Andererseits kann hier eine positive Nachricht einiges auslösen....

Mir gefällt die homepage von WAI, alleine schon wegen der fast täglichen Aktualisierungen.

http://www.miningweekly.com/article/company-announcement-tra…

[Popeye82]

In Sachen Eisen +Anbindung könnte man die hier auch mal im Auge behalten. Insgesamt aber gaaanz anders gelagert:
www.ironsouthmining.com/i/pdf/Iron_South_Presentation.pdf

Gruß
P.

[ooy]

Antwort auf Beitrag Nr.: 42.837.695 von Popeye82 am 02.03.12 02:57:17

Danke, schaue ich mir mal an, von Dir kommen immer klasse Sachen...

[Popeye82]

West African Iron Ore starts drilling the Wondima target - Mar 21, 2012
http://finance.yahoo.com/news/west-african-iron-ore-starts-1…
www.westafricanironore.com/pdfs/Map-Wondima_Plateau.pdf
www.westafricanironore.com/pdfs/3d-Sambalama_South-grav.jpg
www.westafricanironore.com/pdfs/3d-Kalyadi_North-grav.jpg

"VANCOUVER , March 21, 2012 /CNW/ - West African Iron Ore Corp. (TSXV: WAI.V - News) West African Iron Ore Corp. ("WAI" or the "Company") is pleased to report start of an 8,000 meter reverse circulation drilling campaign on the Wondima target. The prospect was discovered as a result of a follow-up geological mapping and surface sampling progamme over the northern portion of the Forecariah property.

The Wondima target is an extensive iron bearing layered prospect that has been identified along the northern extension of the Sambalama/Kalyadi magnetic anomaly (see map http://www.westafricanironore.com/pdfs/Map-Wondima_Plateau.p… The central part of the target consists of about 26km² of raised plateau with a flat and hard iron rich cap. Two hundred and twenty four surface samples were collected from the target area during mapping and the average Fe content was estimated to be 34.73% using a hand held NITON XRF. Deleterious elements were also analyzed and provide the following results:

Si 4.1%
Al 2.5%
P Negligible
S Negligible


A test pit initiated on the Wondima target reached 2m in depth and encountered continuous hematite-rich hard laterite. The pit results were sufficiently encouraging for the Company to mount an 8,000 metre RC drilling program across the whole plateau area so as to make a quick evaluation of the target.

To date, the Company has completed 9 reverse circulation drill holes, 6 of which were analyzed using a NITON XRF. The following results were obtained:

Hole ID - Thickness - Fe% - Si% - Al% - P% - S%

AMARC085 13m 35.43 1.17 3
AMARC086 10m 25.39 2.63 3.2
AMARC087 11m 31.68 1.64 2.98
AMARC088 18m 30.46 2.98 2.98
AMARC089 13m 36.31 1.04 2.63
AMARC090 18m 30.31 1.92 3.14


Legend:

"These initial results on the Wondima target are very encouraging, pending further confirmation by SGS Canada ", stated Guy Duport the CEO of West African Iron Ore Corp.

The Company has also received the initial interpretation of the detailed ground gravimetric survey by SRK Consulting ( Australia ) Ltd. conducted over Sambalama South and Kalyadi North targets. The gravity data were collected by Fugro ground Geophysics (Fugro) on a 75 x 25 meter grid.


Sambalama South Target:

The gravity map over Sambalama South target has revealed a series of high gravity anomalies striking N-S and coincident to the highest part of the magnetic anomaly. The magnetic anomaly is interpreted as magnetite-quartzite which was also expected to provide the highest gravity contrast.

The width of the main Sambalama South gravity anomaly is 350 meters, and the modeled anomaly is almost a kilometer long (see map http://www.westafricanironore.com/pdfs/3d-Sambalama_South-gr… The Sambalama South gravity anomaly is consistent with the intersections of magnetite mineralization in drilling and therefore can be used to quickly delineate the Sambalama magnetite iron resources.

The Company completed 72 drill holes on the Sambalama South target. Of these, 32 holes have already been assayed and the assay results for the rest are pending.


Kalyadi North Target:

The gravity anomaly revealed over Kalyadi North target appears to be more extensive than at Sambalama: It is about 500m wide and almost 2km long. The previous drill holes completed over Kalyadi target were NOT optimally positioned (see map http://www.westafricanironore.com/pdfs/3d-Kalyadi_North-grav… and the Company now plans to follow up the gravity data by drilling. The Company believes that the Kalyadi and Sambalama targets will provide significant magnetite iron resources in addition to the more extensive hematite-goethite shallow iron resources.

The Company drilled 12 holes in Kalyadi North. The samples for these are pending assaying and compilation.


Sampling and Quality Control:

The Company prepared all cuttings, on site, from the reverse circulation-drilling program. SRK Consulting of Australia inspected our facility and confirmed our quality control program. All samples analysed were conducted by SGS Canada Inc. in Lakefield, Ontario in Canada . The Company maintains a systematic quality control program including the use of standards, blanks, duplicates, and an independent check laboratory. The DDH (Diamond Drill Hole) Assay samples collected are sent to SGS South Africa (Pty) Ltd., and the RCH (Reverse Circulation Hole) assay samples are sent to SGS Canada Inc. in Lakefield, Ontario. The performance of the quality control samples associated with these data indicates acceptable analytical quality. Please refer to the NI 43-101 Technical Report, which is filed on SEDAR and available on the Company's website, for further discussion of sample methodology, detailed quality control procedures and other information regarding the project.

Jonathan Challis , FIMMM, is a qualified person under National Instrument 43-101, and has reviewed and is responsible for the contents of this news release.

ON BEHALF OF THE BOARD
Guy Duport
CEO "

[Popeye82]

West African Iron Ore Drills New Target - MIN - Mar 28, 2012
www.metalinvestmentnews.com/west-african-iron-ore-drills-new…

[Popeye82]

Die hier kann man in Sachen Eisen +Anbindung auch mal "im Auge behalten".

Möchte das mit keinen großartigen Prognosen verbinden -aber sie sind von den Rahmenbedingungen für einen Eisenexplorer m.A.n. schon äusserst überdurchschnittlich aufgestellt(FXR.AX entwickelt noch eine Mt Oscar Extension, mit schon kleiner Resource, und seit einiger Zeit in einem JV):
http://clients.weblink.com.au/clients/apollominerals/article…
www.apollominerals.com/images/apollomi---taevo.pdf
http://video.mining.com/videos/3369c0/apollo_minerals_target…

Gruß
P.

[Popeye82]

Im Kontext nicht zu vergessen dass das alles über eine IR Firma, als Distributor, läuft -Auszug:

"... As per year-end December 31, ´11, WAI confirmed in their Management’s Discussion +Analysis, that they are continually reviewing potential mergers, acquisitions, investments that could enhance shareholder value. WAI’s Management confirmed having entered into several Confidentiality Agreements with Chinese private funds +state owned enterprises interested in equity participation, debt financing +off-take agreements. ...".

Ersteres wär wohl fraglich ob das (im Moment)so attrakt wäre(muss man aber, offensichtlich, mit rechnen), auf der positiven Seite scheint auf jeden Fall diverses Interesse vorhanden:

Major's interest growing in West African Iron Ore - GSI - Apr 29, 2012
http://vanguardsolutions.ca/i/pdf/12-05-03%20WAI%20GSW%20-%2…

[Popeye82]

Antwort auf Beitrag Nr.: 43.116.004 von Popeye82 am 03.05.12 15:37:31

MD &A - Apr 27, 2012
www.sedar.com/GetFile.do?lang=EN&docClass=7&issuerNo=0000521…



Auszug -Kassenstand:

"... As at December 31, 2011, the Company had working capital of $4,728,228 (September 30, 2010: $6,084,064). ..."



Operativ:

"... Update on current exploration work in Forécariah

Exploration work on the Forécariah permit is continuing and to-date, on the Kalyadi prospect, the Company has completed 9 diamond drill holes (“DDH”) totalling 1,924 metres and 3 reverse circulation drill holes (“RCH”) totalling 321 metres drilled. On Sambalama 12 DDH totalling 2,169 metres and 57 RCH totalling 7,125 metres have been completed to-date. At the date of this report, the Company completed 141 RCH totalling 4,375 metres on the Wondima/Amaraya prospect. Further drilling on the Sambalama/Kalyadi prospect will shortly resume with DDH and RCH to enable the Company to gather sufficient data to compile the first NI43-101 compliant resource report, anticipated to be available in Q4 2012.

Assay data has been received for 15 DDH on the Sambalama/Kalyadi prospect, (8 of which are included below). Results are also reported for 12 out of 20 RCH on Sambalama. The grades and the analytical results for 7 of these holes "appear to demonstrate that this material could be favourable for shipping with minimal processing (Direct Shipping Ore or DSO)." On-going surface sampling and mapping on Sambalama and Kalyadi has generated new surface targets with the potential for the delineation of additional DSO prospects from an iron-rich laterite cap that will be verified with a planned drill program once the drilling on the Wondima/Amaraya prospect is complete.


Current Diamond Holes reported on Sambalama:

DD Hole ID - From(m) - To(m) - Length(m) - % Fe Total

SAM002 2.28 13.75 11.47 63.18

SAM003 0 14.2 14.2 70.53

SAM004 33.6 41 7.4 41.54
60.8 67.2 6.4 30.44
88 107 19 25.47

SAM005 21.6 26.4 4.8 44.99
38.8 46 7.2 20.37

SAM006 19.8 32.6 12.8 36.01
48 73 25 28.62
75 82 7 24.35

SAM007 27 60 33 36.74

SAM008 37 51.2 14.2 26.85

SAM010 94 121.6 27.6 51.28


Current Reverse Circulation Holes reported on Sambalama:

DD Hole ID - From(m) - To(m) - Length(m) - % Fe Total

SAMRC001 0 8 8 64.95

SAMRC005 0 15 15 27.38
37 44 7 25.6

SAMRC006 0 12 12 25.1

SAMRC007 0 8 8 44.21

SAMRC008 0 7 7 59.2
0 23 23 28.26

SAMRC009 0 18 18 25.5

SAMRC011 0 120 120 28.71

SAMRC012 0 8 8 57.3
0 38 38 25.4

SAMRC013 0 12 12 56.83
0 42 42 26.16

SAMRC015 0 36 36 34.05


Davis Tube Recovery Tests (DTR) conducted on 88 selected composite samples from SAM 004 to SAM 006, indicated that the mineralisation can be upgraded with high recovery levels to produce a product with a grade of >66% Fe from feed with an iron content of as little as 25% Fe.


SAMBALAMA REVERSE CIRCULATION DRILLING

RC drilling on the Forécariah project resumed at the end of October 2011 having been put on hold for about 50 days to allow the implementation of both better logistics to handle the heavy rain during the rainy season, and also to accommodate the change in laboratory from SGS South Africa (Pty) Ltd, to SGS Canada Inc. in Lakefield, Ontario. This has achieved the desired results with an improvement in the turn-around time for samples submitted for analysis and a direct impact on geological understanding of the target. A total of 57 RCH have been drilled on the Sambalama prospect totalling 7,125 metres as of the date of this report.

Analyses conducted by SGS Laboratories in Lakefield, Canada have been partially completed on 12 RC holes and results reported. Work on the RC samples is on-going and includes Niton XRF analyses to help in the logging and allow selection of samples for analysis. Both SRK Consulting (Australasia) Ltd (“SRK”) and the QP approved all sample handling procedures used by SARG.


SAMBALAMA DIAMOND DRILLING

A total of twelve diamond holes have been completed at Sambalama for a total of 2,169 metres. To date SAM010 appears to be the most significant diamond drill hole completed, intersecting 27.60 m of Fe mineralization at depth between 94m to 121.60m in magnetite quartzite with an average Fe grade of 51.28%. Assay results to date have shown mineralization is variable from surface to a depth of up to 125 metres with Fe grades from 24.35% to 70.53%.

Due to the highly friable nature of the oxidised zone, recovery of the near-surface iron-enriched cap has been poor on all diamond holes; however, results from the reverse circulation drilling provided significantly better recoveries. Diamond drilling and reverse circulation drilling will resume on Sambalama by the end of Q2 2012.


KALYADI DIAMOND AND REVERSE CIRCULATION DRILLING

Nine DDH totalling 1,924 metres and 3 RCH totalling 321 metres have been completed and current interpretations indicate mineralization in magnetite bearing gneisses and amphibolite bands up to 15 metres thick and at depths of up to 150m, with a discontinuous near-surface iron enriched cap similar to Sambalama. Cores for sample analyses were sent to SGS Bamako for preparation and will be analyzed by SGS Canada. The Company is expecting to receive analyses results during Q2 2012.


FUGRO GRAVITY SURVEY UPDATE

Fugro Ground Geophysics PTY Ltd completed a ground gravity survey at the end of February 2012 to assist in the identification of further magnetite quartzite drill targets on the Sambalama and Kalyadi prospects. Raw data was provided to SRK for interpretation, and the final report is pending peer review. The gravity technique shows that the main magnetite quartzite unit is neither as continuous nor as wide as had been interpreted from the magnetics. Targets are now being generated based on both a high gravity response, and a coincident magnetic anomaly.


WONDIMA / AMARAYA DRILLING

After completion of follow-up geological mapping on the Wondima/Amaraya prospect, as well as a systematic surface sampling program on a grid of 400m X 200m over an area of 50 km2 over the target, the Company decided that the results were sufficiently encouraging to mount an intensive 8,000 metre drilling program across an area in excess of 40 km2 that will include 56 DDH and 233 RCH. The anomaly identified on this prospect is an oxide cap of hematite-goethite limonite from surface to a depth of up to 20 metres. The central part of the target consists of about 26km² of raised plateau with a flat and hard iron rich cap. 224 surface samples were collected from the target area during mapping and the average Fe content was estimated to be 34.73% using a hand held NITON XRF. Deleterious elements were also analyzed and provide the following results:

Si 4.1%
Al 2.5%
P Negligible
S Negligible


The RCH program started on March 9th, 2012 and at the date of this report, we completed 141 RCH totalling 4,375 metres (ARMC085 to ARMRC194). The DDH program is planned to start on this prospect during the first week of May 2012. This shallow drilling program has been designed to define a NI43-101 compliant resource by Q4 2012.

The Company issued a press release on March 21st, 2012 (NR12-03) with preliminary results using a NITON XRF (see results below). The methodology of sample preparation includes sun drying the entire sample; manual crushing of large RC chips to -10mm +90%; rolling the sample and riffle split to 3-5kg. This 3-5 kg split is rolled again and a 150-200 g sub sample is extracted by coning and quartering for NITON assay. 1kg is extracted for lab assay and the balance of 2-3 kg is preserved in the library as reference sample in labeled one-litre plastic jars. The 200g NITON sub-samples are analyzed using a NITON Thermo Scientific XL 3t GOLDD+ XRF in the lab. The NITON instrument is wiped after every assay and calibrated with a CRM standard twice every day.


Hole ID - Thickness - Fe% - Si% - Al% - P% - S%

AMARC085 13m 35.43 1.17 3 <LOD <LOD

AMARC086 10m 25.39 2.63 3.2 <LOD <LOD

AMARC087 11m 31.68 1.64 2.98 <LOD <LOD

AMARC088 18m 30.46 2.98 2.98 <LOD <LOD

AMARC089 13m 36.31 1.04 2.63 <LOD <LOD

AMARC090 18m 30.31 1.92 3.14 <LOD <LOD


Legend: <LOD Limit of Detection below 10ppm or 0.001%


380 samples, representing 62 RCH completed on the Wondima/Amaraya prospect were shipped for analyses to Inspectorate Exploration & Mining Services Ltd a Bureau Veritas company in Reno, Nevada, United States. Results are anticipated to be received by the end of May 2012.

Proposed and current drilling program on the Wondima/Amaraya prospect: ...


Forécariah Project

The Forécariah Project is covered by three permits under License number A2008/043/DIGM/CPDM, published as order A/2008/3722/MMG/SGG on October 8th, 2008 in the Official Journal of the Republic of Guinea. The permits are currently valid until May 31st, 2012, and are renewable for two periods of two years thereafter. The Forécariah Project is located approximately 90km from Conakry, the capital city of Guinea, along National Road 1, which joins Conakry to the Pamelap border crossing with Sierra Leone. The Kalyadi (also spelled Kaliadi)/Sambalama mineralization, which lies within the boundaries of the territory covered by the Forécariah Permits, is located close to the coast "which will facilitate the shipment of any economic iron ore discovered on the property." The recently identified Wondima/Amaraya targets (WAI release NR12-02 dated January 26th, 2012) are extensive iron bearing hematite-goethite prospects that were identified along the northern extension of the Sambalama/Kalyadi magnetic anomaly.

Iron mineralization in the Forécariah tenement consists of magnetite quartzite and hematite-goethite laterite within the Kissi Kissi Formation of the Kasila Group. These iron-bearing lithologies occur in a number of north-northwest-oriented zones in the northern, eastern and south-eastern part of the tenement. The Sambalama/Kalyadi prospect consists of 2 different iron ore anomalies - the primary target is composed of magnetite quartzite, magnetite gneiss and magnetite amphibolite from at depths between 30 metres and 150 metres. The secondary target of hematite-goethite laterite has developed over most of the lithologies on the Forécariah permit and its thickness varies from few metres on surface to a depth of up to 30 metres.

The main occurrences occur between the localities of Bambaya and Heriko, "and seem to form four to five distinct semi-continuous layers which either represent separate metamorphosed units of Banded Iron Formation, or reflect tight folding or thrust-duplication of a single extensive BIF unit."

The property known as the Forécariah tenement covered by SARG exploration permits are described in detail in a technical report (the "SRK Report") prepared by SRK Consulting (Australasia) Pty Ltd in accordance with the requirements of National Instrument 43-101 ("NI 43-101"). The SRK Report is available for review on SEDAR -@ www.sedar.com .


Permit extension

On July 4th, 2011 SARG provided to the Minister of Mines and Geology with a written request and supporting documents for the extension of both the Forécariah and the Kérouané licenses, in advance of the October 2011 renewal date for a two year extension on both tenements under the 1995 Mining Code. On September 8th, 2011 the Company received a letter from the Mines Minister stating that an extension of 3 months has been granted to SARG. On December 19th, 2011 the Company received a further letter from the Mines Minister stating that an exceptional compensatory extension of 5 months has been granted to SARG prior to first renewal.

This exceptional compensatory extension will expire on May 31st, 2012. The Company made a submission in accordance with the newly published Mining Code to the Mines Minister for the first 2 year renewal period on the Forécariah permit. Under the new Mining Code Article 20, a company exploring for iron ore and/or bauxite can only possess in its name a maximum of 3 permits with a total area of 1050 km2.

After careful review, the Company has decided that the difficult access and remoteness from the major infrastructure of the Kérouané permit will likely increase exploration costs and delay any potential development of the property in the event that an iron ore reserve were to be delineated. After a systematic campaign of ground mapping, interpretation and samples analyses during the first quarter of 2012 on the identified iron ore targets within the western boundaries of the Kérouané permit, the Company management decided to relinquish 100% of the Kérouané permit to the Republic of Guinea in order to retain our 3 Forécariah permits with a minimum of 734 km2. The Company has submitted to the Guinean Government a request to retain for the first renewal period a maximum of 3 permits and reduce its land package to 1050 km2 on the Forécariah permit.

The Company "anticipates that a formal renewal Order will be issued to SARG to grant the said renewal period of 24 months, once the newly appointed committees (as mentioned above) and the Mining Cadastre Commission have studied our proposal and in accordance with the normal decision-making process currently in place in the Republic of Guinea".


Kérouané Project

The Kérouané Project is covered by one permit under License number A2008/044/DIGM/CPDM, published as order A/2008/3723/MMG/SGG on 8th, October 2008 in the Official Journal of the Republic of Guinea. The permit is currently valid until May 31st, 2012, and is renewable for two periods of two years thereafter. The License gives SARG authorization to conduct exploration and exploit, at surface or in the subsurface, iron ore in the tenement. The Kérouané Project permit is located approximately 400km from the Forécariah iron-ore Mineral Project.

The Kérouané permit is located some 50 kilometres west of the Simandou Range, the location of Vale’s Simandou blocks 1 & 2 and Rio Tinto’s Simandou blocks 3 & 4 deposits, the latter of which is expected to come into production by 2014 (Rio Tinto Press release, 22 April 2011). Immediately adjacent to the Kérouané Project, five different companies appear to hold ground tenure for iron ore exploration.

NOVATEM completed their Technical Report on the high-resolution helicopter borne magneto metric survey of Kérouané, flown in May 2011. Full interpretation and inversions were submitted to the Company in September 2011. Novatem, helicopter borne magneto metric survey consisted of 3,071 line kilometres and limited prospect mapping and sampling work by Uranium-Logging and Consulting as well as SARG. This work has led to the identification of a 9-kilometer-long and up to 2-kilometer-wide magnetic zone, the Soromaya belt, in which field checks have confirmed the presence of BIF outcrops.

Field mapping by SRK has confirmed the presence of metamorphosed BIF along elongated ridges up to several kilometres in length and 200 metres in width within the Soromaya Belt, and the presence of additional mineralized units outside the main belt, but the data available is insufficient to define an Exploration Target Size or estimate a resource at this time.

SRK conducted reconnaissance mapping on the permit and issued in November 2011 a Technical NI43-101 Report on the Kérouané tenement based on their site visit, sample analyses, work done previously on the permit and the NOVATEM interpretation. Surface sampling of mineralized units has been limited so far, with 36 samples combining the Company samples and SRK check samples, giving an average Fe content of 39.6% Fe. The majority of those samples were collected from units within the Soromaya belt, but the data includes the smaller occurrences recorded throughout the tenement.

As stated earlier, the Company management, after careful consideration and review of all technical data available on the Kérouané permit, decided to relinquish 100% of the Kérouané permit to the Republic of Guinea in order to retain our 3 Forécariah permits and in order to respect the September 2011 Mining Code.

The property known as the Kérouané tenement covered by SARG's exploration permits are described in detail in a technical report (the "SRK Report") prepared by SRK Consulting (Australasia) Pty Ltd in accordance with the requirements of National Instrument 43-101 ("NI 43-101"). The SRK Report is available for review on SEDAR by December 2nd, 2011 at www.sedar.com


Recent Developments with respect to the Mining Code

The New Mining Code was adopted, enacted and promulgated on September 9th, 2011; the publication of the new Mining Code of the Republic of Guinea took place in the “Official Journal” in January 2012.


Notable changes from 1995 Mining Code are as follows:

- The new Mining Code now entitles the Guinean State to an overall shareholding of up to 35% in the share capital of mining companies in Guinea. Previously, that right was limited to a 15 % shareholding in the capital of companies involved in the exploitation of precious metals. This participation is divided into two parts. One is free and non-dilutive, the “National Interest”, which is fixed at 15% (in the case of bauxite, iron ore, uranium, gold and diamonds). The other is a maximum 20% “Contributing Interest”, on a fully paid basis at a price to be agreed with the investor. The published Mining Code does allow an option to reduce the right of the State to its contributing interest by increasing the applicable tax rate.

- A Mining Convention must now accompany the grant of an exploitation permit.

- Any change of control in an entity holding a mining title is now subject to approval or validation by the Ministry of Mines. This "may include the acquisition of juuuuust 5 per cent of the share capital of that entity that owns the Mining Convention."

- The new Mining Code has introduced a new provision relating to force majeure. Its legal definition excludes “economical hardship as a result of market price variations” and any act or event, which would only lead to a more onerous or difficult completion of a party’s obligation.

- Anti-bribery provisions have also been included in the new Mining Code. This includes an obligation to implement an ‘Anti-bribery surveillance plan’ and also to sign a ‘Code of Good Conduct’. The new law also contains substantial ‘transparency’ provisions. For example, a mining company and its direct subcontractor must inform the State of their corporate structure, as well as the identity of their shareholders, directors, managers and senior managerial employees.

- One other key change concerns employment and training. Now, while the principle of preference to local employees and contractors and the transfer of technology were already established in the 1995 law, the new legislation brings more strenuous obligations. This includes the imposition of specific quotas and also training obligations. For example, a Guinean national must be appointed as deputy managing director of a mining company as soon as it commences exploitation. Also, within 5 years from commencement of exploitation, a Guinean national must be appointed managing director.


The new code has created several new public bodies:

- the National Mine Committee (Commission Nationale des Mines)

- the Technical Titles Committee (Comité Technique des Titres)

- the National Directorate of Geology (Direction Nationale de la Géologie)

- the Study and Strategy Office (Bureau d’Etude et de Stratégies).


Their composition, organization and function are to be fixed by formal decrees.

The new code also refers to a mining registry (cadastre minier), which will be managed by the CPDM (Centre de Promotion et de Développement Minier). The mining registry is defined as a public register containing a list of all mining and quarry titles and their corresponding maps. ..."

[Popeye82]

Presentation - May 10, 2012
http://westafricanironore.com/wp-content/themes/waitheme/pdf…

[Popeye82]

CEO of West African Iron Ore Interviewed, by Resource Intelligence - Jun 4, 2012
http://westafricanironore.com/2012/06/14/ceo-interview-with-…

[reini81]

West African Iron Ore signs binding Letter of Intent for a $30 million finance facility and offtake agreement with Strategic Partner China International Fund

http://www.newswire.ca/en/story/1029729/west-african-iron-or…

Gruß
reini81

[ooy]

TSX VENTURE EXCHANGE: WAI

VANCOUVER, Nov. 13, 2012 /CNW/ - West African Iron Ore Corp. (TSX-V: WAI) West African Iron Ore Corp. ("WAI" or the "Company") is pleased to report that the Minister of Mines and Geology of the Republic of Guinea granted the Company, on November 8, 2012 its first renewal for its Forécariah permits, under Decree number: A 2012/10253/MMG/SGG, valid for a period of 24 months.

(Copy of the Decree at www.westafricanironore.com/pdfs/renewal.pdf).

Update on Financing:

The renewal of these Forecariah permits satisfies the permitting requirements of the binding Letter of Intent (the "LOI") for a CAD$30 million loan facility between the Company and Strategic Partner, China International Fund Limited ("CIF"), as previously announced in the Company's news release of September 4, 2012 (WAI-NR12-05).

Any debentures issued pursuant to the LOI will now be converted into common shares of the Company at the greater of the market price of the Company's shares at the time of issuance of the Debentures or the conversion price of CAD$0.10 per share. CIF's aggregate beneficial ownership of common shares of the Company may not exceed 19.9% of the issued and outstanding common shares of the Company at the time of exercise.

CIF has already advanced the Company CAD$2 million in accordance with the terms of the LOI. These advances have allowed the Company to pursue ground activities, pending the signing of the definitive agreements between the Company and CIF contemplated in the LOI.

"The signing of this decree moves us closer to our goal to become one of the first producers of iron ore in Guinea and create substantial value for both our shareholders and the people of Guinea. With completion of the permitting required by our LOI, we move closer to executing the definitive agreement, completing our maiden 43-101 resource report, and having full access to the C$30 million loan facility. This financing was structured to limit share dilution and provide sufficient funding for the Company's growth over the coming two to three years.

The board and management of the Company wish to extend their sincere appreciation to the Republic of Guinea and, in particular, to the Minister of Mines and Geology, His Excellency Mr. Lamine Fofana, for his diligence and continuous support of the development of Guinea's mining sector. The mining sector has substantially benefitted from his vision and foresight into the daily challenges junior companies face in this highly competitive and changing market place" commented Guy Duport, CEO of West African Iron Ore Corp.

[BeerisGood]

Antwort auf Beitrag Nr.: 43.820.952 von ooy am 14.11.12 02:32:18

Der Markt braucht hier wohl etwas länger um die letzte Nachricht zu verarbeiten.

WAI is effectively fully funded through their NI43-101 to final feasibility, with the dilution factor known and
likely limited to 44 million shares to get there.

http://goldeditor.com/wp-content/uploads/editorpdfsimages/12…

Kuckt man sich noch Zusammenarbeit zwischen CIF und Bellzone und die WAI News vom 4.9. an (In addition, CIF and WAI will define the related conditions that will allow WAI to finance its mine development.), dann wird wohl irgendwann klar, dass hier Nägel mit Köpfen gemacht werden.

[BeerisGood]

Nach einem einfachen Verdoppler, kommt dann auch Roulston aus'm Knick.
http://image.exct.net/lib/fef5137774670c/d/1/13-01-18%20WAI%…

[Popeye82]

Matysek ist raus:

West African Iron Ore Announces Board Changes, +Corporate Update - Sep 3, 2013
http://finance.yahoo.com/news/west-african-iron-ore-announce…

"VANCOUVER , Sept. 3, 2013 /CNW/ - West African Iron Ore Corp. (WAI.V) ("WAI" or the "Company") is pleased to announce, effective immediately, the appointment of Mr. Jorge Cantonnet as Non-Executive Chairman and Director of the Company. Mr. Cantonnet will replace Mr. Paul Matysek who resigned from the Board on September 1 st, 2013. The Company wishes to thank Mr. Matysek for his support during the formative years of the Company and wishes him well in his
future endeavors.


Changes to the Board of Directors:

Mr. Jorge Cantonnet is a senior financial industry executive with over 30 years of experience in establishing and managing private equity, investment banking and direct investment businesses in global emerging markets, with value exceeding several billion dollars. Mr. Cantonnet has held many senior board, executive and committee positions, including: Chairman, Executive Committee, Investment Committee, Risk Committee, Underwriting Committee and Human Resources Committee of several publicly listed financial institutions and private equity funds. Since 2011, he held the positions of Managing Director, Executive Management Member and Chief Investment Officer of Instrata Capital BSC, a Bahrain Central Bank regulated asset management firm. From 2009 to 2011, he was the Managing Director and Head of Private Equity and Investment Banking of Al Rajhi Capital Company, based in Riyadh , Kingdom of Saudi Arabia . From 2005 to 2009, he was Owner and Partner of Global Capital Networks LLC in New York. From 1998 to 2005, he was Senior Managing Director and Global Head of Emerging Markets Capital Markets at Bear, Stearns & Co. Inc. in New York. From 1995 to 1998, he held the position of Vice President and Co-Head of Emerging Markets Capital Markets Latin America at UBS Securities in New York. As well, from 1980 to 1995, he held senior positions at Bankers Trust, Eurobank & Trust Company, Merrill Lynch and Citigroup. Mr. Cantonnet holds a Master in Business Administration from Harvard Business School, and a Bachelor of Science in Biomedical Engineering from Boston University .

Guy Duport, CEO of West African Iron Ore Corp. commented that, " Mr. Cantonnet is currently based in the United Arab Emirates (UAE) and has the necessary experience and skills to assist the Company in raising capital and, in due course, moving our project from exploration to the development stage. We are pleased in the confidence he has shown in our team and the prospects of our Forécariah property. As disclosed in our June 30 th, 2013 Financial Statements, the release of our initial 43-101 technical report has unfortunately been delayed to Q4 2013 as we await advanced data and services from one of our key technical partners. We are disappointed and frustrated by this delay and we are sourcing potential alternative suppliers to ensure such bottlenecks and delays do not occur in the future. The continued funding from our partners Sky Alliance Resources Inc. (SARI) and China International Fund Ltd. (CIF) provides us with the necessary financial resources to enable the completion of our initial NI43-101 Technical Report."


About the Company:

West African Iron Ore Corporation is dedicated to the sustainable development of its mineral resources in the Forécariah provinces of the Republic of Guinea . We nurture a harmonious working relationship with the local community and the Guinean authorities. We advocate the minimization of environmental impact and the promotion of economic opportunity for all our stakeholders.

ON BEHALF OF THE BOARD
Guy Duport
CEO


Contact:

Guy Duport
CEO
[e-mail]
Tel: [phone]

Investor Relations
Vanguard Shareholder Solutions
Tel: [phone]
Toll Free: 1-866-638-0824
[e-mail] "

[BeerisGood]

Antwort auf Beitrag Nr.: 45.386.961 von Popeye82 am 04.09.13 20:41:28

Gut Ding(43-101) braucht hier gehörig Weile.

Aber Matysek gegen einen Multimillionär zu tauschen, der nicht nur den Job nicht nötig hat sondern auch für eine Investmentfirma arbeitet, die in Infrastrukturprojekte investiert, halte ich für keine schlechte Nachricht.
http://instrata.com/en/investment-infrastructure

[Popeye82]

Zitat von Popeye82/Resource Opportunities, 1.10.2011: We can expect to see an initial 43-101 out by late Q4 or early Q1.

nach gefühlten 200 Jahren später, es "sollte" 'demnächst' tatsächlich soweit sein. Na ma schaun, bis dato bin ich noch skeptisch betreffend "early mine development". Aber das sich andeutende Wondima Deposit sieht erstmal schon gut aus. SCheinen auch mit Bellzone 'anbändeln' zu wollen, beziehungsweise sich selber, nicht im Übernahmesinne, etwas "als Braut rauszuputzen":

Initial resource report for West Africa iron-ore prospect expected this quarter - MW - Oct 25, 2013

- Chantelle Kotze -
http://gallery.mailchimp.com/ac554aa2779b66851749b7dc0/files…

"West-Africa-focused iron-ore exploration company West African Iron Ore expects to release the initial 43-101 resource report for its flagship Wondima target in the fourth quarter of this year, once comprehensive resource estimation and metallurgical testing have been completed.

The scope of the report covers the Wondima target in the com- pany’s Forécariah tenements, in the West African country of Guinea. The report is expected to provide a mineral resource estimate compliant with NI43-101, a full metallurgy report on iron and other associated minerals, as well as initial estimates for capital expenditure and operating expenditure.

West African Iron Ore CEO Guy Duport tells Mining Weekly that the company is focusing its efforts on the Wondima target, which is an extensive iron-bearing layered orebody prospect that has been identified along the northern extension of the Sambalama-Kaliadi magnetic anomaly, located south-east of the Wondima target.

The central part of the target, where drilling has been concentrated, comprises 33 km2 out of a 64 km2 geophysical target of raised plateau, which has a flat and hard iron-rich cap. Iron mineralisation starts from surface to a maximum depth of 26 m.


Drilling

Drilling results undertaken from May to September 2012 on the Wondima target show consistency in grade and thickness.

Of a completed 449 drilled holes and about 11 000 m of drilling, which include 384 holes that entailed 9 955 m of reverse-circulation drilling and 65 holes that entailed 1 088 m of diamond drilling, assays of 326 holes, averaging 30% iron for 8.5 m at surface on a 400 m × 400 m area, have been released.

The mineralisation has a thickness of about 8.5 m, starting from surface

After the release of the com- pany’s technical report, it is considering undertaking a prefeasibility study on the Wondima deposit for potential mine development and mine exploitation by 2015.

“We will continue extending our resources through further drilling and analysis of our Awa prospect, which is similar to the Womdima deposit. The Awa prospect is located at the south-eastern end of the Forécariah tenements, on the Sierra Leone border,” says Duport.

Meanwhile, the company’s Sambalama-Kaliadi prospect is an additional target for magnetite ore and supergene higher-grade iron oxide ore at surface.


Prospects

“Iron deposits in these two prospects have the potential for an easy upgrading to marketable product and we are considering the possibility of developing these iron oxide ore prospects as a means to generate early cash flow, which will be used to fund further exploration and development at additional targets on the Forécariah tenements,” says Duport.

In the near term, after the maiden technical resource report has been released, West African Iron Ore aims to complete a preliminary economic assessment and bankable feasibility studies for potential early mine development of its Wondima deposit.

“The results of these will be extremely intriguing, with the current potential for simple, shallow, surface mining operations with low capital and operating expenditure,” says Duport.

“We are in continual discussions with several potential partners, some major mining companies and other parties interested in investing in an undervalued iron-ore project with great potential for growth.

“We are in talks with China International Fund (CIF), which is in a joint venture (JV) with junior iron-ore miner Bellzone Mining,” says Duport.

Bellzone Mining is a neighbour, with its operation located to the east of the Foré-cariah tene- ment, and has an already operational barging port within the boundaries of West African Iron Ore’s tenements in Forécariah.

It would be beneficial for the Bellzone Mining-CIF JV and West African Iron Ore to have a supporting partnership through their respective Forécariah projects, as it provides the opportunity to share infrastructure costs, generate better asset use and increase higher overall rates of return for both parties.

Bellzone’s producing Foré-cariah mine has infrastructure, an export facility with power and staff quarters, as well as a 76 km haul road, which connects the Yomboyeli pit to the port at Konta.

The facilities are capable of increasing production, which will assist in the development of West African Iron Ore’s project and lower everyone’s capital expenditure.

“The first commercially produced iron-ore from Guinea since 1966 was exported on December 27, 2012, from the operations at Forécariah,” Duport concludes. "