West African Resources Limited (OTCMKTS:WFRSF) Sees Large Increase in Short Interest

West African Resources Limited (OTCMKTS:WFRSF) was the target of a large increase in short interest in the month of July. As of July 31st, there was short interest totalling 1,195,900 shares, an increase of 98.5% from the July 15th total of 602,500 shares. Based on an average daily volume of 6,500 shares, the days-to-cover ratio is presently 184.0 days.

West African Resources Price Performance

Shares of OTCMKTS WFRSF remained flat at $0.77 during mid-day trading on Tuesday. The company’s 50-day simple moving average is $0.90 and its two-hundred day simple moving average is $0.79. West African Resources has a 52-week low of $0.40 and a 52-week high of $1.09.

West African Resources Company Profile

West African Resources Limited engages in the mining, mineral processing, acquisition, exploration, and project development of gold projects in West Africa. The company has 90% interests in the Sanbrado Gold Project located in Burkina Faso; and Kiaka gold project located in Burkina Faso. It also holds 100% owned exploration license in the Toega Gold Project located in Burkina Faso.