West African Resources Limited (OTCMKTS:WFRSF – Get Free Report) was the recipient of a large drop in short interest in October. As of October 30th, there was short interest totaling 26,778 shares, a drop of 70.3% from the October 15th total of 90,112 shares. Based on an average daily volume of 2,342 shares, the days-to-cover ratio is currently 11.4 days.
West African Resources Stock Performance
OTCMKTS WFRSF remained flat at $3.17 during mid-day trading on Friday. West African Resources has a 52 week low of $0.75 and a 52 week high of $3.46. The company’s fifty day simple moving average is $2.59 and its two-hundred day simple moving average is $2.25.
About West African Resources
West African Resources Ltd. is a gold exploration, development and production company headquartered in Perth, Australia. The company focuses on acquiring, developing and operating gold projects in West Africa, with its activities centered in Burkina Faso. West African Resources operates the Sanbrado Gold Operation in Burkina Faso, which produces gold from open-pit and underground mining operations supported by an on-site processing facility. The company also owns and operates the Kiaka Gold Mine, another major Burkina Faso project intended to expand its regional gold production platform.
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