Stock Track | West African Resources Soars 7.19% as BlackRock Becomes Substantial Holder

Stock Track

04/01

West African Resources Ltd (ASX:WAF) saw its shares surge 7.19% during intraday trading on Wednesday.

The sharp rise follows a filing with the Australian bourse revealing that BlackRock Group and its subsidiaries have become a substantial holder in the company. BlackRock now owns 60.9 million shares, representing a 5.33% total voting power.

The acquisition of a significant stake by a major global investment manager like BlackRock signals strong institutional confidence in West African Resources, prompting increased investor interest and buying activity.

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