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West High Yield (W.H.Y.) Resources Ltd. is a publicly traded junior mining exploration and development company based in Calgary, Alberta, Canada. The company focuses on acquiring, exploring, and developing mineral resource properties, with a primary objective to develop its Record Ridge magnesium, silica, and nickel deposits using green processing techniques to reduce waste and CO2 emissions. The company recently announced a non-brokered private placement offering, engaged Outside The Box Capital Inc. for marketing services, and obtained an extension for a private placement offering. Additionally, the company signed a Letter of Intent with Skemxist Solutions for road construction, site preparation, and mining operations at the Record Ridge Industrial Mineral Mine near Rossland, British Columbia.
West High Yield (W.H.Y.) Resources (TSXV: WHY) has announced an extension for its previously announced private placement offering. The TSX Venture Exchange (TSXV) has granted an extension for the final acceptance date of the offering. The new deadline for closing and filing acceptance of all final documentation has been extended from October 14, 2024, to November 13, 2024.
The terms of the offering and the units will remain unchanged up to and including the extension date. The offering continues to be subject to certain conditions, including regulatory and other approvals, with final TSXV approval required by the new extension date.
West High Yield Resources (TSXV: WHY) has received updated work plan timelines from the British Columbia Ministry of Energy, Mines and Low Carbon Innovation regarding its Record Ridge Industrial Minerals Mine (RRIMM) permit process. The company is optimistic about a potential permit issuance by early December, 2024, although dates may be subject to adjustments.
West High Yield remains committed to addressing any further requests or comments from the British Columbia Mine Development Review Committee (MDRC) review of its latest amended permit submission. The company continues to work closely with Project stakeholders and regulatory authorities to ensure efficient progress.
The revised Project does not trigger the British Columbia Environmental Assessment Act Reviewable Project Regulations, eliminating the need for an environmental assessment prior to obtaining construction and operation permits for the RRIMM.
West High Yield (W.H.Y.) Resources (TSXV: WHY) has announced the closing of a second tranche of its private placement offering, issuing 1,125,000 Units at CAD$0.20 per Unit for gross proceeds of CAD$225,000. Each Unit consists of one Common Share and one Warrant, with the Warrant allowing the purchase of an additional Common Share at CAD$0.30 within 12 months.
The company has also entered into debt settlement agreements with four creditors to convert CAD$320,000 of outstanding consulting fees into Common Shares at a deemed price of CAD$0.20 per share. The proceeds from the offering will be used for permitting processes, essential operations, working capital, and a planned drilling program for water monitoring holes at the Record Ridge magnesium deposit.
West High Yield (W.H.Y.) Resources (TSXV: WHY) has announced the first tranche closing of its private placement offering. The company issued 905,000 Units at $0.20 per Unit, raising gross proceeds of $181,000. Each Unit consists of one Common Share and one Warrant, with the Warrant allowing the holder to acquire an additional Common Share at $0.30 within 12 months of closing.
The proceeds will be used for:
- Concluding the permitting process
- Covering essential operations
- General working capital purposes
- Supporting the planned drilling program for water monitoring holes at the Record Ridge magnesium deposit
All securities issued are subject to a four-month plus one day trading hold period.
West High Yield Resources (TSXV: WHY) announced an amended permit application for its Record Ridge Industrial Mineral Mine (RRIMM) project in British Columbia. The company had a productive meeting with the BC Ministry of Energy, Mines and Low Carbon Innovation on September 4, 2024, where it outlined its revised approach. The key change is reducing the proposed annual tonnage to 63,500 metric tonnes, falling below the 75,000-tonne threshold set by the BC Environmental Assessment Office for reviewable mineral mine projects.
The amended application was submitted on September 17, 2024, and includes responses to previous comments from the BC Mine Development Review Committee (MDRC). The company is now awaiting MDRC review and feedback on the next steps in the permit process for the RRIMM project.
West High Yield Resources (TSXV: WHY) provides updates on its Record Ridge Industrial Mineral Mine (RRIMM) project and announces a private placement offering. Key points include:
Mine Permit Update: The company met with the Ministry of Energy, Mines and Low Carbon Innovation (EMLI) to discuss permit options for a reduced throughput mining operation. A follow-up meeting is scheduled for September 4, 2024.
Corporate Updates: Ongoing communication with interested customers, including APG Galaxy Trade and Technology and ACS Moschner & Co GmbH.
Private Placement Offering: Non-brokered offering of up to 3,750,000 units at CAD$0.20 per unit, for gross proceeds of up to CAD$750,000. Each unit includes one common share and one warrant.
Proceeds will be used for permitting, operations, working capital, and a planned drilling program for water monitoring holes at the Record Ridge magnesium deposit.
West High Yield (W.H.Y.) Resources (TSXV: WHY) has announced the closing of its private placement offering, raising CAD$143,575.05 through the issuance of 435,076 Units. Each Unit comprises one Common Share and half of one Common Share purchase warrant. The warrants allow holders to acquire additional shares at CAD$0.45 within 18 months of the closing date. This corrects a previous announcement that mistakenly stated each Unit included a full warrant.
The company plans to use the proceeds for concluding its mining permitting process, covering essential operations, and general working capital purposes. The offering is subject to closing conditions, including approval from the TSX Venture Exchange.
West High Yield Resources (TSXV: WHY) announces a setback in the mining permit process for its Record Ridge Magnesium Project. The British Columbia Environmental Assessment Office (EAO) has determined that the project is subject to environmental assessment thresholds for mineral mines, not industrial mineral projects as previously understood. This decision requires the company to reduce operations to under 75,000 tonnes of ore production per year to avoid triggering an environmental assessment.
CEO Frank Marasco Jr. expressed surprise and concern over this late-stage change, stating the company is consulting legal counsel to explore options. The company is also considering the EAO's offer to facilitate discussions on permitting a smaller-scale project. Despite this setback, West High Yield remains committed to the project and its partnership with the Osoyoos Indian band.
West High Yield (W.H.Y.) Resources (TSXV: WHY) has closed the first tranche of its previously announced private placement offering on August 9, 2024. The closing consisted of 435,076 Units issued at $0.33 per Unit, raising gross proceeds of $143,575.05. Each Unit comprises one Common Share and one Warrant, with each Warrant allowing the holder to acquire an additional Common Share at $0.45 within 18 months of the closing date.
The proceeds will be used to support the Company's planned drilling program for water monitoring holes at its Record Ridge magnesium deposit, complete the permitting process, cover essential operations, and for general working capital purposes. All securities issued are subject to a four-month plus one day trading hold period.
West High Yield (WHY) Resources has announced a non-brokered private placement offering to raise up to CAD$1.5 million by selling 4,545,454 units at CAD$0.33 per unit. Each unit includes one common share and a half common share purchase warrant. Full warrants can be exchanged for an additional share at CAD$0.45 within 18 months. The proceeds will fund the company's drilling program at the Record Ridge magnesium deposit, finalize permitting, cover essential operations, and for general working capital. The offering is subject to closing conditions, including TSX Venture Exchange approval.
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