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West High Yield Resources ( (TSE:WHY) ) has shared an announcement.
West High Yield Resources has closed a single tranche of its conditionally approved non-brokered private placement, issuing 1,000,000 units at $0.50 per unit for gross proceeds of $500,000, with each unit comprising one common share and a warrant exercisable at $0.65 for 12 months. The securities are subject to a four-month-plus-one-day hold period, and the funds raised are earmarked for essential operations and general working capital, while the company has completed the offering in full and is now seeking final approval from the TSX Venture Exchange, a step that supports ongoing development of its Record Ridge critical mineral project and reinforces its capital position as a junior mining player.
The most recent analyst rating on (TSE:WHY) stock is a Hold with a C$0.38 price target. To see the full list of analyst forecasts on West High Yield Resources stock, see the TSE:WHY Stock Forecast page.
Spark’s Take on TSE:WHY Stock
According to Spark, TipRanks’ AI Analyst, TSE:WHY is a Neutral.
The score is held down primarily by very weak financial performance (no revenue, ongoing losses, negative cash flow, and negative equity with rising debt). Technicals are weak-to-neutral and valuation signals are limited by losses. Offsetting these risks, corporate events are positive, with permitting milestones and incremental financing supporting project advancement.
To see Spark’s full report on TSE:WHY stock, click here.
More about West High Yield Resources
West High Yield (W.H.Y.) Resources Ltd. is a publicly traded junior mining exploration and development company focused on acquiring, exploring and developing mineral resource properties in Canada. Its core asset is the Record Ridge critical mineral deposit near Rossland, British Columbia, which contains magnesium, silica and nickel and is being advanced with an emphasis on green processing technologies to reduce waste and CO2 emissions. The Record Ridge project hosts an estimated 10.6 million tonnes of contained magnesium, as outlined in an independent NI 43-101 Preliminary Economic Assessment.
Average Trading Volume: 92,428
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$49.91M
Learn more about WHY stock on TipRanks’ Stock Analysis page.