The Record Ridge asset has one of the largest and highest-grade magnesium deposits in North America, and globally. The company’s resource estimate shows 43 million tonnes of ore at 24.6 percent magnesium, which implies it is a world-class asset containing 10.6 million tonnes of magnesium. In addition, West High Yield’s pre-feasibility study indicates strong economics with an after-tax NPV of 5 percent of $872 million, an internal rate of return (IRR) of 72 percent over a 172-year mine life, and payback in 1.5 years.
Additionally, the company has developed a green mining and refinement process to minimize carbon emissions during production. This green process utilizes over 90 percent of the ore extraction not only magnesium but saleable quantities of silica, nickel and iron. Magnesium is widely used in renewable energy technologies, so maintaining a strong ESG rating is essential for downstream manufacturing.
An experienced management team with expertise throughout the mining industry leads the company towards fully capitalizing on its promising asset. Experts in geology, corporate administration, and engineering create confidence in the team’s ability to reach its goals.
Frank Marasco Jr. - Founder, President, CEO and Director
Frank Marasco is the founder of West High Yield Resources. Marasco is also president and director of Big Mountain Development Corp. Over the course of 45 years, Marasco has built and sold 47 successful businesses, including hotels, motels, rental units, RV and mobile home parks, apartments, retail liquor stores, pubs, nightclubs and a retail mall. At the age of 47, he retired, later going into business in the oil and mining sectors. He had purchased 81 oil and gas development sections in S.E. Saskatchewan in the Bakken, as well as gold mines in Rossland, BC. After briefly exploring for and finding gold on the project, Marasco and his team then discovered what is now a world-class, 2,000-acre, high-grade, low cost, critical mineral magnesium deposit known as Record Ridge.
Barry Baim - Director and Corporate Secretary
Barry Baim brings over 35 years activating and inspiring teams to achieve profitable revenue growth. His senior leadership experience is diverse having held executive positions with both private and public companies including Tier one CPG and in the natural resource sector mining site development projects in oil sands, 3d seismic, logistics, remote lodging and other service-related entities in energy, oil and gas. Baim is currently a director for SGV Canada and a past board member with Millennium Seismic, Paradigm Chemical Technologies and Siksika Resource Developments Ltd.
Patricia L. Nelson - Director
Patricia Nelson was controller for Sabre Petroleum's, Petroterra Natural Resources and manager of Financial Control for Suncor. She is the vice-chair and director of the In Situ Oil Sands Alliance, director of Altalink, and director of Optiom Inc.. Nelson served 15 years as an elected Member of the Legislature of Alberta. She was appointed and served as Minister of Energy, Minister of Economic Development and Tourism, Minister of Government Services and finally, was appointed Minister of Finance. She served 12 years as a member of the Treasury Board and the Agenda and Priorities Committee of the Government. An active member in the community, she supports charitable organizations such as the Kidney Foundation, the Cancer Foundation, Heart and Stroke and Juvenile Diabetes.
Maria Marasco - Director
Maria Marasco is an independent business woman who has provided services in corporate restructuring finance, acquisitions, and strategic planning. She is also responsible for overseeing management information systems, human resource strategies, and property management systems.
Shelina Hirji - Chief Financial Officer
Shelina Hirji is a designated accountant with over 38 years of experience in infrastructure construction, oil and gas exploration, and mining. Hirji has been engaged in the oil and gas industry since early 1990, starting with various senior accounting and management roles in both public and private companies with extensive participation in growth opportunities. She has been a key member of the executive management team, assuming a strategic role in the overall management of the company. Hirji's experience in financial management including financial reporting, corporate accounting, budgeting and forecasting, as well as stewardship of internal controls. Hirji is a member of the Chartered Professional Accountants of Alberta and the advisory committee for TSX Venture Exchange.
Fouad Kamaleddine - Advisor
Dr. Fouad Kamaleddine is the founder/principal of AIS Inc., an integrated mining consulting partnership that provides technical services to mining companies including processing and metallurgy, project development and engineering studies. He has been an officer and director of many public and private mining companies. Kamaleddine has over 20 years of academic and industry experience with demonstrated success in conducting challenging industrial research leading to several inventions and multiple achievement awards.
James Gregory (Greg) Davison - Senior Geologist, Technical Advisor and Qualified Person
Greg Davison is a professional consulting exploration geologist, technical advisor, qualified person, project generator and manager, and ore mineralogist (exploration and metallurgy). Davison is currently licensed in British Columbia (EGBC) and has over forty-four years of practical field, laboratory and management experience in diverse geological settings. He completed his B.Sc. (honors geology) at Dalhousie University, Nova Scotia (1974-1979) and his M.Sc. (geology) at Brock University, Ontario (1981-1984), and is on the board of directors of TSX-V-listed Silver Spruce Resources and Playfair Mining. Davison provides extensive management, operational and applied skills for mineral exploration, including technical analysis of process mineralogy, petrography and ore geology, at all project levels from grassroots through advanced development and mining.
Rick Walker - P. Geologist, P. Engineer
Rick Walker has over 25 years of geological and structural mapping experience in the mineral exploration industry. Walker has a strong background, ranging from structurally complex areas to advanced exploration property definition. In addition, he has worked on a wide variety of deposit types, including porphyries, sedimentary exhalative, volcanogenic massive sulphides, low tonnage vein-type, industrial minerals; gold, silver, base metals, rare to strategic metals and diamonds. Walker has delivered significant geological value throughout his career for companies, ranging from junior to major resource companies, both nationally and internationally. He has also served as a volunteer for industry-related organizations, serving for 12 years as president of the East Kootenay Chamber of Mines, five years as a director of the BC and Yukon Chamber of Mines (now the Association of Mineral Exploration for BC), on the committee that developed the initial Mineral Exploration Code for BC and as an industry representative in the Commission on Resources and Environment (CORE) process resulting in the East Kootenay Land Use Plan.
Corey Peck - Junior Geologist
Corey Peck is a junior geologist who came to West High Yield Resources in the spring of 2007. He studied at the University of Calgary, where he received a B.Sc. in geology, with a minor in earth science. He has extensive training in both the field and lab settings. His skill set encompasses all aspects of geology, geophysics and geography, with particular emphasis on geotechnical logging, mineralogy and mapping. He currently resides full time in Rossland, BC.