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Western Exploration Inc V.WEX

Alternate Symbol(s):  WEXPF

Western Exploration Inc. is focused on gold and silver discoveries in Northern Nevada. The Company is engaged in the business of exploration, acquisition, development, and mining of precious metals and other mineral deposits in the State of Nevada. The Company's principal asset is the 100% owned Aura gold-silver project, located approximately 120 kilometers/75 miles north of the city of Elko, Nevada, and including three gold and silver deposits: Doby George, Gravel Creek, and Wood Gulch. The Aura project consists of 709 unpatented lode mining claims, totaling 12,848 acres, and mineral leases on 2,296 acres of fee land in nine different parcels. Doby George is a near-surface oxide deposit. The deposit is located approximately 130 kilometers north of Elko, a top mining jurisdiction in the world. Gravel Creek is a high-grade underground sulphide deposit. Wood Gulch is a past-producing, near-surface, oxide deposit.


TSXV:WEX - Post by User

Post by fearlessggg1962on Aug 22, 2020 4:06am
235 Views
Post# 31441172

Oh! Boy!

Oh! Boy!Oh! Boy! This is not the kind of news, I was expecting..... I can't remember exactly which EMR entity owns what? So more reading required. I think EMR will be taking this privately now. Which I believe they will have to offer something for the outstanding shares but this is me dreaming now. Feel free to comments. I don't think Bankruptcy would be considered simply because a receiver would have to be appointed which EMR in that case would lose control of the company. So I think they have to buy the minority shareholders in order to go private and I don't think foreclosing on themselves would be wise but who knows what they have planned. One thing for sure is that EMR has enough capital to take that company and turn it privately and invest back into the company to proceed with the mine. So this is pure speculation from me at this time but to me this news release is the least favorable. Regards Fearlessgg
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