Franco-Nevada (FNV) a US$22.64 billion market cap gold company purchased 2.5 million Westhaven Gold (TSXV: WHN) shares in October 2022 at $0.40 per share!
WHN currently has only 140.59 million shares outstanding vs. 139.49 million shares outstanding one year ago. WHN's shares outstanding have increased by only 0.79% from one year ago, all from insiders exercising in-the-money stock options prior to expiration at an average exercise price of $0.14 per share. All remaining 8.575 million options held by insiders have exercise prices ranging from $0.35 per share up to $0.95 per share with an average exercise price of $0.566 per share.
In October 2018, when WHN gained as much as 458.33% in a single month from $0.24 per share up to a high of $1.34 per share after discovering bonanza gold grades, WHN needed to trade total volume of 28.89 million shares because it had many millions of in-the-money warrants, which created a lot of resistance. Today, WHN has no remaining warrants!
As of September 27th, WHN CEO Gareth Thomas said that their drilling rig had been moved back to the Franz Zone to follow up on their most recent discovery of bonanza gold grades! Drilling results will start being announced as soon as they begin arriving back from the lab! We will be checking every morning prior to the open for press releases from WHN!
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This message is not a solicitation or recommendation to buy, sell, or hold securities. NIA has received compensation from WHN of US$50,000 cash for a six-month marketing contract. This message is meant for informational and educational purposes only and does not provide investment advice.
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