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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 acquiring, exploring, and developing mineral resource properties in Canada. Its primary objective is to develop its Record Ridge critical mineral (magnesium, silica, and nickel) deposit using green processing techniques to minimize waste and CO2 emissions. The Company’s Record Ridge critical mineral deposit located 10 kilometers southwest of Rossland, British Columbia has approximately 10.6 million tonnes 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. The known magnesium mineralization is located within two of the mineral claims. The infrastructure for the proposed development of the Record Ridge Property is located on mineral tenures controlled by the Company.


TSXV:WHY - Post by User

Comment by BCBullon Jul 30, 2020 5:16am
260 Views
Post# 31341826

RE:Frankie and his sister...

RE:Frankie and his sister...Such a pity with a potential resource like this. Took a look at the accounts the other day and dug into the notes. The real horror story is the loan from the Marasco family to the company against which all the assets are secured. Effectively, they are the bank to the company. Given that they only own 37% of the company, it is in their interest to bankrupt it, then they would end up with 100% for no extra cash.

Having said this. It is also true to say that they could have done this a few years ago or last month and they did not. So I would give them the benefit of the doubt honesty wise. If they were total crooks they would have reposessed the asset already and screwed the minorities. However, any white knight with cash to burn will want to get rid of this clause for sure.
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