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west melville metals inc (WMM) Snapshot

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west melville metals inc (WMM) Details

West Melville Metals Inc., an exploration stage company, engages in the acquisition, exploration, and development of mineral properties in Canada and Greenland. It explores for iron ore and specialty metals. The company holds an option to acquire up to a 70% undivided interest in the Fraser Bay Iron property covering 3,228 acres located near the west coast of the Melville Peninsula in Nunavut Territory, Canada. It also has an agreement to acquire a 100% undivided interest in the Greenland property covering a total of 34,494.64 hectares in south Greenland. The company was formerly known as West Melville Iron Company Ltd. and changed its name to West Melville Metals Inc. in January 2012. West Melville Metals Inc. was incorporated in 2011 and is based in Vancouver, Canada.

Founded in 2011

west melville metals inc (WMM) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: C$175.4K
Chief Financial Officer
Total Annual Compensation: --
Compensation as of Fiscal Year 2013.

west melville metals inc (WMM) Key Developments

West Melville Metals Inc. Completes Purchase of the Isortoq Project in Greenland; Announces Resignation of Bruce Counts as Director

West Melville Metals Inc. announced that the vendors of the Isortoq Project have elected to waive the final $1.4 million payment due on the Isortoq Property and an amending deed to the purchase agreement to this affect has been executed. The ‘royalty agreement’ covering non-ferrous metals has also been cancelled. This secures the exclusive right to a 100% unencumbered interest in the Project for West Melville and Hunter will now file an application to the Greenland authorities to transfer title to the Isortoq Exploration Licenses over to West Melville. In view of this exciting development, the Board of Directors has unanimously decided to focus all of the company's resources on the Isortoq Project, and as a consequence it has elected not to exercise its option to purchase the Alex Project in Mexico. The option on the Fraser Bay Project is secure until December 2014 and efforts continue to find a suitable partner for the project. Mr. Bruce Counts has resigned as a director of West Melville in order to pursue other opportunities.

West Melville Metals Inc., Annual General Meeting, Aug 20, 2014

West Melville Metals Inc., Annual General Meeting, Aug 20, 2014., at 10:00 Pacific Standard Time. Location: 1020 - 800 West Pender Street. Agenda: To fix the number of directors at five; to elect directors of the Company for the ensuing year; to appoint KPMG LLP, Chartered Accountants, as auditor of the Company for the ensuing year and authorize the Directors to fix their remuneration; to approve and ratify the Company's stock option plan as more particularly described in the company's information circular; to confirm and approve the company's advance notice policy as more particularly; to described in the company's information circular; and to transact such further or other business as may properly come before the meeting and any adjournments thereof.

West Melville Metals Inc. Auditor Raises 'Going Concern' Doubt

West Melville Metals Inc. filed its Annual on Apr 24, 2014 for the period ending Dec 31, 2013. In this report its auditor, KPMG LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.


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