West High Yield employees exercise 173,334 options

Jul 9, 2013

Mr. Frank Marasco reports

WEST HIGH YIELD ANNOUNCES CORPORATE DEVELOPMENTS

On June 30, 2013, 2.7 million of West High Yield (WHY) Resources Ltd.’s common share purchase warrants expired unexercised with an exercise price of 75 cents. These warrants were issued as part of private placement completed in June, 2011.

In June, 2013, certain officers, directors and consultants of the company exercised 173,334 stock options with an average exercise price of 36 cents for gross proceeds of $62,000.20. As a result, the issued and outstanding common shares of the company increased to 47,571,228.

On June 4, 2013, the company announced the release of the results of a preliminary economic assessment on its 100-per-cent-owned Record Ridge project. The Record Ridge property is an intermediate advanced-exploration-stage magnesium project located in Southern British Columbia, Canada. The preliminary economic assessment was prepared by SRK Consulting (U.S.) Inc. of Lakewood, Colo., and has been filed on the company’s SEDAR profile and is also available on the company’s website.

The preliminary economic assessment presumes a conventional open-pit mine, a novel hydrometallurgical processing plant, a calcined magnesia intermediate product plant, along with a fused magnesia production plant, with pretax net present value of $1,339-million (U.S.) using a 5-per-cent discount rate and internal rate of return of 21 per cent, and an after-tax net present value of $830-million (U.S.) using a 5-per-cent discount and after-tax internal rate of return of 17 per cent.

We seek Safe Harbor.

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