West African Resources Says JPMorgan Chase Becomes Substantial Holder

West African Resources (ASX:WAF) received notice that JPMorgan Chase and its affiliates became a substantial holder of the company on July 1, according to a Monday filing with the Australian bourse. JPMorgan Chase now owns 57.3 million shares in the company, representing 5.01% of the issued shares, the filing said. The company's shares fell 1% in recent Monday trade.