Waiting for an update on West High Yield

Trading in West High Yield (TSXV:WHY) was halted before the open on Friday.  It appears that IIROC is seeking "clarification of company affairs."
Bloomberg is doing some good work on this, with an update on WHY on Friday afternoon.  In a nutshell, the Alberta Securities Commission is looking into the purported transaction, the purchaser has a checkered past, and the purchaser's counsel (Baker McKenzie) is not aware that they are acting for them or any connection to the deal.

I'm waiting with bated breath to see what happens next with WHY and how quickly the deal unravels.  I've seen a lot of scams and frauds in my career, but this seems like the most obvious of the bunch.


Popular posts from this blog

Hammer time! Friday's bullish market reversal

Image
Prior to being a junior mining IR consultant and blogger, I used to be in equities research and trading.  Back in those days, I studied the markets intensely looking for buying opportunities.  I used a variety of technical indicators, technical analysis, fundamentals, and intuition to guide my decisions.  As discussed in this post, I think there is a good chance that we saw a market reversal on Friday.  That sets up what could be a significant buying opportunity.

The equities market is constantly evolving and changing.  This bull market is quite different from the last, as there is a lot more computer-based trading, a lot more passive investing (i.e., investors buying ETFs instead of actively managed funds), and a remarkable lack of volatility.  Most investors have become accustomed to the low volatility, making the recent market pullback seem shocking when, in fact, it is quite normal (historical charts here). 

My belief is that we are in the latter stages of a bull market and that t…
Read more

What did I learn at PDAC?

Image
The annual Prospectors & Developers Association of Canada, or PDAC, convention in Toronto has ended.  I was there, as were 25,000 other people.  While I actually didn't attend the convention much, here are a few things I learned and observed at this PDAC:

Some people can never have enough free pens or squishy toys.  I'd like to see a concerted effort by the mining industry to eliminate all the free junk that is given away at conferences like PDAC.  When you feed a pigeon, you'll get more and more pigeons that suddenly show up.  Ask yourself if you really want to attract pigeons pen collectors.  People who covet free trinkets are not who we want to attract to an investment conference.  On a side note, thanks to Lundin Mining (LUN.TO) for providing small chocolate bars that I gave to my kids so they would still love me after PDAC. Copper exploration is hot.  There are a lot of big mining companies looking for large scale copper projects. Since there are not a lot of those…
Read more

Tin - no longer a boring metal!?!

Image
Tin is a boring metal.  It is used predominantly for solder (yawn!), and for applying a thin, corrosion resistant layer on metal (a.k.a. tin-plating) (double yawn!).  Or, so at least I thought.

Recently, Rio Tinto Ventures hired MIT to study which metals would be most impacted by new technologies such as autonomous and electric vehicles, renewable energy, energy storage, and advanced computing and IT.  Never in my wildest dreams would I have expected tin to come out at the top of that list, edging out lithium and cobalt.


We've all heard lots of hype about lithium, cobalt, nickel, and even vanadium being the hot metals associated with electric vehicles and batteries.  Lithium has lost some of its luster due to Tesla's struggles as well as potential that SQM could flood the lithium market.  I still like cobalt due to the supply concentration from the DRC, a hellhole of a country that, ironically, has amazing mineral endowment.  But, this is the first time I've seen or heard …
Read more