West African Resources (ASX: WAF) is preparing to announce a corporate transaction involving an acquisition, with the ASX granting the company additional time in the form of a trading halt. WAF shares are now in pre-open.
WAF is currently focused on the Boulsa Project in Burkina Faso, which covers an extensive 6,370 square kilometres, including 200 kilometres of strike length of early Proterozoic Birimian greenstone belts.
These belts are highly prospective for gold mineralisation.
WAF is targeting copper-gold, and helping exploration is the fact that the company owns and operates a fleet of six drill rigs that are working continuously on Boulsa.
The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Thursday 1st August 2013.
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