Shares in iron ore explorer West African Minerals (WAFM) crashed through a technical support level at around 50p after another round of drill results disappointed investors. This is the third batch of assays that have failed to find valuable 'direct shipping ore', or high-grade haematite iron ore mineralisation, at the company's early-stage exploration permits in Cameroon.
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Shortly thereafter, founding director Gualtiero Giori sold his entire shareholding in the company for £10.7m in cash and non-cash considerations.
