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

West African Resources Limited (OTCMKTS:WFRSF – Get Rating) was the recipient of a significant increase in short interest during the month of May. As of May 15th, there was short interest totalling 338,000 shares, an increase of 79.9% from the April 30th total of 187,900 shares. Based on an average daily volume of 16,400 shares, the short-interest ratio is presently 20.6 days.

Shares of WFRSF opened at $0.88 on Friday. West African Resources has a 1-year low of $0.65 and a 1-year high of $1.15. The firm has a 50-day simple moving average of $0.94 and a two-hundred day simple moving average of $0.92.

About West African Resources (Get Rating)

West African Resources Limited engages in the acquisition, exploration, and development of gold projects in West Africa. The company has 90% interests in the Sanbrado Gold Project covering an area of 116 square kilometers located in Burkina Faso; and Kiaka gold project located in Burkina Faso. It also holds 100% exploration license in the Toega Gold Project located in Burkina Faso.

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