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Unaudited interim results for six months ended 30 September 2012

24 December 2012

 

Unaudited interim results for six months ended 30 September 2012

The Directors of West African Minerals Corporation (AIM WAFM) are pleased to announce its unaudited interim consolidated financial statements for the six months ended 30 September 2012.

Operational Highlights

  • Acquisition of remaining 5% minority interest in CMC Cameroon now provides full ownership and operational control of the Company’s major asset in Cameroon;
  • Post period drilling results at Binga has confirmed the geophysical interpretation and intersected zones of enriched iron mineralization;
  • Total Assets increased from £26.4 million to £30.6 million;
  • Following placements, cash still remains over £12.9 million;
  • Operational expenses rigorously controlled at all levels; and
  • Awarded the Best Performing Share at the AIM Awards 2012

Stephen Dattels, Executive Co-Chairman & CEO of WAFM, said:

“WAFM has had a highly successful year to date – both on the AIM market and in Cameroon. The Directors remain excited by the significant potential of the licences in Cameroon and believe further shareholder value can be created in both the short and long-term.”

The interim consolidated financial statements will shortly be available on the Company's web site, http://westafricanminerals.com/content/investor-centre/annual-interim-filings

 

For further information contact:                 

West African Minerals Corporation

Anton Mauve

Managing Director

 

Donna Yoshimatsu

Investor Relations and Corporate Secretary

 

+44 (0) 1624 639396

 

 

+1 (416) 722-2456

Beaumont Cornish Limited (Nominated Adviser)

Roland Cornish

Michael Cornish

 

+44 (0)20 7628 3396

Investec Bank PLC (Broker)

Neil Elliot

Mark Wellesley-Wood

 

+44 (0)20 7597 5970

GTH Communications

Toby Hall

Suzanne Johnson Walsh

+44 (0) 207 822 7493 / 7492