West High is Making Waves: $WHY.V

Investors are wondering what the heck, what’s up with $WHY? The stock remains halted after a blockbuster US$750 million deal was announced Oct 5th with Gryphon Enterprises.

WHYWest High Yield Resources Ltd ($WHY.V) has signed a definitive arm’s-length purchase and sale agreement to sell 100 per cent of its right, title and interest in its Record Ridge South, Midnight and O.K. mineral properties to Gryphon Enterprises LLC, a company based in Maryland, United States, for a purchase price of US$750-million. The magnesium rich land entails 7,891 acres near Trail and Rossland, and according to the CEO of West High, “If you calculate the three sections of the land, there is about 3,000 years of supply” of magnesium that can potentially be extracted from the property.

Wow. For real?

The agreement includes representations and warranties to each party customary in a transaction of this nature and is subject to a number of conditions. But is the deal the real thing or not?

West High Yield will call a special shareholders meeting to seek approval for the deal in December. Gryphon Enterprises is quiet.

Financial Post had this to say:

“According to a company filing, the Toronto offices of law firm Baker McKenzie represents the purchaser Gryphon. Greg McNab, a partner at the firm who is also its global head of mining practice, was unaware of the transaction.

‘We’re not aware of any role in it,’ McNab said by phone Thursday.”

Magnesium is coming up in conversation a lot these days.

Hmmmm. Where will $WHY’s share price settle or spike once the halt is off?

West High Yield

This is not in any way investment advice nor any sort of stock recommendation. Please do your own due diligence and talk to a qualified investment advisor.

The contents of this article are for informational purposes only.  Nothing in this article, in any way whatsoever, should be considered implicit or explicit investment advice. Nothing contained herein is a recommendation or solicitation to buy, hold or sell any security. Note the inherent risks when investing in microcap stocks. Prior to making any investment decision, we recommend that you seek outside advice from a qualified and registered investment advisor.

West High Yield is not a client nor an advertiser. None of the Stock Syndicate owners own shares in West High Yield.

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