Summer is traditionally a weak time for equity markets and 2013 has proved a very weak period indeed for mining equities. Majors, mid-caps, juniors - no matter the size, they've all been affected by tumbling commodity prices, low trading volumes, and falling risk appetite among investors.
Fledgling iron ore explorer West African Minerals (WAFM) is certainly no exception. Its share price has utterly collapsed this year, despite winning the 'Best Performing Share' award from the Alternative Investment Market in 2012. (Shares in the company climbed nearly eight-fold during the first nine months of the year.) But these gains were all but reversed in 2013 as the company repeatedly failed to deliver on promises it would discover massive new deposits of high-grade iron ore in Cameroon.
