West Point Gold (WPG.V) recently confirmed it received approximately C$4.1M in proceeds from the exercise of warrants. As the expiration date of the remaining 1.72M warrants with an exercise price of C$0.40 is just days away, we can reasonably expect WPG has received another C$0.7M since the previous update. The table below shows all relevant warrant expiration dates. The next important one is the June 10, 2027 expiration date for the 6.6M remaining warrants with a exercise price of C$0.55. This would add an additional C$3.6M to the treasury.
The additional cash inflow will obviously be helpful to fund the upcoming 30,000 meter drill program on the company’s flagship Gold Chain project in Arizona. We expect to see a maiden resource estimate on the project within the next few weeks, and hopefully that will provide a good starting point for future exploration programs to not only expand, but also increase the confidence in the upcoming maiden resource estimate.
Disclosure: The author has a long position in West Point Gold. West Point Gold is a sponsor of the website. This post is for educational purposes only; be mindful investing in junior mining stocks is risky and you may lose your entire investment if things go wrong. Please read the disclaimer.
