West African Minerals (AIM: WAFM)
West African Minerals is an iron ore mining and exploration group with interests in Cameroon. Through its 100 per cent owned subsidiary Compagnie Minière du Cameroun SA, the Company retains four exploration permits in Cameroon covering approximately 384 sq km, where it is actively engaged in advancing its high value iron ore resources. Over the last two years the Company has announced maiden mineral resource estimates on its South Djadom prospect located adjacent to the Mbarga deposit in southeast Cameroon, and at its near-coastal leases of Binga and Sanaga. The latter being in close proximity to existing rail, port and power and therefore ideally positioned for potential early cashflow through low capital cost access to shipping and a gateway to the district. The company is currently active in seeking new advanced staged projects for acquisition and developing the regional steel industry potential in West Africa.