West African Resources suspended from ASX due to disclosure delay
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The news: West African Resources has been suspended from quotation after a trading halt expired before the gold miner had made an announcement regarding the acquisition of a stake in its subsidiary.
The context: The gold miner was suspended from trading on 28 August pending an announcement relating to a request from the Burkina Faso government to acquire “for valuable paid consideration” another 35% interest in West African’s subsidiary Kiaka SA on top of its existing 10% stake.
West African shares were meant to resume trading on 1 September but the ASX has suspended trading until “it is satisfied that [West African] is in compliance” with continuous disclosure obligations.
