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West High Yield (W.H.Y) Resources Ltd V.WHY

Alternate Symbol(s):  WHYRF

West High Yield (WHY) Resources Ltd is a Canada-based junior mining exploration and development company. The Company is focused on the acquisition, exploration, and development of mineral resource properties in Canada with a primary objective to develop its Record Ridge magnesium, silica, and nickel deposit using green processing techniques to minimize waste and CO2 emissions. Its Record Ridge magnesium deposit is situated approximately 10 kilometers (kms) southwest of Rossland, British Columbia and has approximately 10.6 million tons of contained magnesium. The Company retains 100% of the mineral rights to the Record Ridge Property, which consists of 29 contiguous mineral claims, eight crown-granted claims, and one privately owned claim totaling 8,972 hectares.


TSXV:WHY - Post by User

Comment by Scot126on Mar 02, 2021 2:50am
108 Views
Post# 32692575

RE:RE:RE:RE:Private Placement

RE:RE:RE:RE:Private Placement Mining - it's simple is WHY goes bust Big Mountain ( Marascos private co ) has first charge over the asset . Trouble is he still would have no money to develop the asset and as a private company he would have no chance of raising any whatsoever. The whole reason the company went public in the first place was so he could raise money from the market. He has shown that he has not really able to do this to any great extent so as a private concern he would have no chance.
 
The other issue is just What is the " asset " anyway ? This simply seems to be the mineral rights on the property. Remember the company does not own the land. It would appear that these mineral rights expire in 2023 if you read the PEA this is what it says -I can't find anything out there which says these have been extended.
 
The company's year-end figures are due and are almost definitely going to be completely dire.
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