Westhaven Gold Secures Venture Approval for Talisker Claims
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Westhaven Gold Gains TSX Venture Approval
VANCOUVER, British Columbia — Westhaven Gold Corp. (TSX-V:WHN) is thrilled to announce that it has successfully obtained approval from the TSX Venture Exchange for acquiring a claim package from Talisker Resources Ltd. This significant move was made evident in a recent announcement regarding the transaction details.
The Acquisition Details
As part of this collaborative agreement, Westhaven has allocated $20,000 in cash and issued 1,500,000 common shares to Talisker. It’s important to note that these shares will be subject to statutory resale restrictions that will lift on January 6, 2025. Additionally, there are contractual restrictions with phased releases scheduled for future dates in 2025.
Understanding the Royalty Terms
Another noteworthy aspect of this agreement is the 1% Net Smelter Royalty (NSR) on the claims. Westhaven holds the flexibility to repurchase the NSR at any time for a price of $1,000,000, providing strategic options for the company's financial planning and operational focus.
Westhaven's Strategic Position
Westhaven Gold Corp. is primarily focused on gold exploration and making impactful discoveries within the Spences Bridge Gold Belt, recognized as Canada's newest gold district. The company boasts ownership of approximately 60,950 hectares (roughly 609.5 square kilometers) across four gold properties, a significant portfolio in this relatively underexplored region.
Shovelnose Project Highlights
The Shovelnose project stands out due to its convenient location near major transportation infrastructure, including highways and power lines, along with proximity to large-scale mining operations. Its location near Merritt facilitates low-cost exploration, which is essential for sustaining and expanding Westhaven’s gold ambitions.
Conclusion
This acquisition underscores Westhaven Gold's commitment to enhancing its portfolio within a promising mining district. With a dedicated team and a clear vision, the company is positioned well to capitalize on future gold exploration opportunities.
For further inquiries, please contact: 604-681-5558.
Frequently Asked Questions
What is the latest development for Westhaven Gold?
Westhaven Gold Corp. has received TSX Venture approval for acquiring a claim package from Talisker Resources.
What are the financial terms of the acquisition?
The company has paid $20,000 in cash and issued 1,500,000 common shares to Talisker.
What is the significance of the 1% NSR mentioned?
The Net Smelter Royalty allows Westhaven the future option to buy back a portion of the royalty at $1,000,000, providing flexibility in financial planning.
Where is Westhaven’s Shovelnose project located?
The Shovelnose project is situated within the Spences Bridge Gold Belt, an emerging gold district in Canada.
How can I learn more about Westhaven Gold?
For more information, you can contact the company directly or visit their official website.
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