Westhaven Gold Corp. Announces Executive Update and Future Plans
Corporate Changes at Westhaven Gold Corp.
Westhaven Gold Corp. (TSXV: WHN) has recently announced a significant corporate update regarding its executive team. The company confirmed the departure of Sean Thompson from his role as Vice President of Corporate Development and Investor Relations. This transition marks a notable change in the leadership structure of the organization.
Message from the Board
Gareth Thomas, a Director of Westhaven, expressed gratitude for Sean's contributions over his six and a half years with the company. He sincerely wished Sean the best in his future endeavors, emphasizing the importance of his role during his tenure.
Clarification on Financing
In addition to the leadership changes, Westhaven has provided clarity regarding its recently closed private placement financing. The company disclosed that broker warrants totaling 250,000, which were associated with this financing, have been returned to the company for cancellation. This means no broker warrants will be issued in connection with the financing, a crucial detail that upholds the integrity of the terms of the deal.
About Westhaven Gold Corp.
Westhaven Gold Corp. is committed to exploring and developing high-grade, low-sulphidation epithermal gold mineralization within the Spences Bridge Gold Belt located in southern British Columbia. The company proudly holds approximately 61,512 hectares of land across four significant gold properties in this underexplored region.
Shovelnose Gold Project Insights
The Shovelnose Gold project stands out as Westhaven's most advanced property. Recently, the company completed a Preliminary Economic Assessment (PEA) that outlines its potential as a robust underground mining opportunity. This assessment predicts an average annual gold production of about 56,000 ounces over 11 years with an after-tax NPV of Cdn$454 million, based on base case parameters including US$2,400 per ounce gold and a significant internal rate of return of 43.2%.
Looking Ahead
Westhaven is projecting initial capital costs at approximately Cdn$184 million, with an optimistic payback period estimated at 2.1 years. The strategic location of the Shovelnose project, supported by its proximity to major highways, power sources, and mining infrastructure, is expected to significantly reduce exploration and development costs.
Compliance and Responsiveness
According to Ken Armstrong, President and CEO of Westhaven Gold Corp., this news release aligns with the company’s commitment to transparency. Ken is available for inquiries at the company's office, ensuring stakeholders have access to relevant information regarding the company’s ongoing projects and future recourse.
Frequently Asked Questions
What recent change has Westhaven Gold Corp. made in its executive team?
Sean Thompson has departed from his position as Vice President of Corporate Development and Investor Relations.
What did Gareth Thomas say about Sean Thompson’s departure?
Gareth Thomas acknowledged Sean's valuable contributions to the company and wished him well in his future endeavors.
What clarification did Westhaven provide about its recent financing?
Westhaven clarified that 250,000 broker warrants associated with its financing were returned for cancellation, with no broker warrants being issued.
What is the focus of Westhaven Gold Corp.?
Westhaven focuses on exploring and developing high-grade gold mineralization within the Spences Bridge Gold Belt in southern British Columbia.
What is the Shovelnose Gold project?
The Shovelnose Gold project is Westhaven's most advanced property, with a recently completed PEA highlighting its potential for significant gold production and profitability.
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