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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

Bullboard Posts
Comment by Pete57on Oct 18, 2019 9:22pm
163 Views
Post# 30246294

RE:Any idea what's going on?

RE:Any idea what's going on?Massive dilution. There was 56 million shares at december 31, 2015. Now there's almost 300 millions. EMR get paid 12% annual interest in shares each 3 months on its multiple loans. They have no interest in keeping the price of shares high. They get more shares that way. Last may, they bought 40 millions shares + 20 millions warrants. Compare that to the amount in 2015.
I don't know how CPM will be able to finance that mine without emitting hundreds of millions of new shares.
Bullboard Posts