Northwire Canada EditionSunday, November 1, 2026
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Gold 3,898.90 −3.3% Silver 49.28 −5.9% Copper 6.48 −1.8% Oil 104.12 +2.1% Palladium 987.70 −1.7% HCH 1.25 −3.9% CRD 0.040 −20.0% ENEV 0.005 +0.0% MOON 5.23 −7.9% ORE 2.56 −4.8% ASE 0.620 −14.5% LKY 0.005 + SOI 0.165 −5.7% ECR 0.190 −5.0% OZ 0.240 −9.4% ELEC 0.110 +4.8% WHY 0.260 −3.7% PHD 0.030 −33.3% OMI 0.220 −10.2% EML 0.105 +0.0% TECT 1.37 −2.8% Gold 3,898.90 −3.3% Silver 49.28 −5.9% Copper 6.48 −1.8% Oil 104.12 +2.1% Palladium 987.70 −1.7% HCH 1.25 −3.9% CRD 0.040 −20.0% ENEV 0.005 +0.0% MOON 5.23 −7.9% ORE 2.56 −4.8% ASE 0.620 −14.5% LKY 0.005 + SOI 0.165 −5.7% ECR 0.190 −5.0% OZ 0.240 −9.4% ELEC 0.110 +4.8% WHY 0.260 −3.7% PHD 0.030 −33.3% OMI 0.220 −10.2% EML 0.105 +0.0% TECT 1.37 −2.8%
Regulatory Routine +

West High Yield Resources Receives Occupant Licence to Cut and Remove, Marking Another Major Regulatory Milestone at Record Ridge Magnesium Project

West High Yield’s Record Ridge magnesium project has cleared its final forestry permit, paving the way for construction to begin at the site.

Executive Summary

West High Yield (W.H.Y.) Resources Ltd. has received an Occupant Licence to Cut and Remove (OLTC) from the BC Ministry of Forests. The licence authorizes timber clearing and site preparation on a 50.062-hectare area for the Record Ridge Industrial Mineral Mine Project (RRIMM). This development follows the BC Mines Act permit issued in October 2025 and the Ministry of Transportation and Transit access permit granted in June 2026. Pre-requisites for the licence include posting the balance of required reclamation security before clearing begins.

The company is currently advancing pre-construction planning, detailed engineering, metallurgical pilot testing, and project financing. The deposit contains a Measured and Indicated resource of 43.0 million tonnes at 24.61% Mg grade.

Material Impact

West High Yield (W.H.Y.) Resources Ltd. received the Operating License to Commence (OLTC), a standard regulatory milestone for mining development in British Columbia. This approval de-risks site preparation but does not materially alter the company’s financial outlook, capital requirements, or construction timeline. The development aligns with previous management guidance and historical permitting progress. No new capital was raised, and there were no changes announced to the offtake agreement with Galaxy Trade.

WHY · Price
Company Overview

West High Yield (W.H.Y.) Resources Ltd. is a Canadian mining development company focused on the Record Ridge Industrial Mineral Mine (RRIMM) near Rossland, British Columbia. Its flagship project, the Record Ridge Magnesium Project, targets critical minerals including magnesium, silica, and nickel.

According to a 2013 NI 43-101 Preliminary Economic Assessment (PEA), the company’s resource base consists of 43.0 million tonnes at a 24.61% magnesium grade, containing approximately 10.6 million metric tonnes of magnesium.

The company’s business model involves an initial phase of selling raw magnesium-rich serpentine ore to a U.S. buyer, Galaxy Trade, to generate early cash flow. Long-term plans include developing a domestic magnesium refining and processing facility. The project is currently in advanced permitting and pre-construction stages, with no on-site chemical processing or tailings planned for the initial phase.

Read the original news release →

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