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Westhaven Gold Corp V.WHN

Alternate Symbol(s):  WTHVF

Westhaven Gold Corp. is a Canada-based gold-focused exploration company advancing the high-grade discovery on the Shovelnose project in Canada's newest gold district, the Spences Bridge Gold Belt. The Company controls approximately 60,950 hectares with four gold properties spread along this underexplored belt. Its projects include Shovelnose Gold, Prospect Valley Gold, Skoonka Creek Gold and Skoonka North. The Shovelnose gold property consists of approximately 45 contiguous mineral claims encompassing 41,623 hectares (ha). The Prospect Valley (PV) Gold Property is located roughly 30 kilometers to the west of Merritt, British Columbia and is situated in the Spences Bridge Gold Belt (SBGB) and covers approximately 10,927 ha. The Company owns a 100% interest in the Skoonka Creek project, which is situated near the northern end of the SBGB. The Skoonka North Property consists of three contiguous mineral claims encompassing approximately 6,167 hectares wholly owned by the Company.


TSXV:WHN - Post by User

Bullboard Posts
Post by MudCreekeron Dec 21, 2018 2:13pm
142 Views
Post# 29147565

Financing Options

Financing Options

The fact that WHN doesn't seem interested in going to the market for money in a pp seems puzzling to some. I've been mulling over a possibility...

From the E&G article: "Westhaven Chairman and largest shareholder Gren Thomas is a wealthy man and the company has no shortage of financing options." The author of that article is being paid by WHN, so he might be biased, but he has direct access to them, and I think there might be a hint for us in that sentence.

On Nov. 14, They announced grants of options.  2.8 million options at $1.20 each, a good sized chunk of which went to Gren and Gareth Thomas.  So they have no need to do a pp, which involves paying broker fees and finder fees, and giving out warrants, and getting exchange approval. They can just exercise their $3.2 million options. And since it's a rolling 10% option plan, they can then issue more options.  Lather, rinse repeat.  

Just pure speculation on my part. 

Bullboard Posts