Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities,
Use of Proceeds, and Issuer Purchases of Equity Securities
None.
Item 3. Defaults Upon Senior Securities
None.
Item 4. Mine Safety Disclosures
For Western, safety is a core value, and we strive
for superior performance. Our health and safety management system, which includes detailed standards and procedures for safe production,
addresses topics such as employee training, risk management, workplace inspection, emergency response, accident investigation, and program
auditing. In addition to strong leadership and involvement from all levels of the organization, these programs and procedures form the
cornerstone of safety at Western, ensuring that employees are provided a safe and healthy environment and are intended to reduce workplace
accidents, incidents and losses, comply with all mining-related regulations and provide support for both regulators and the industry to
improve mine safety.
The operation of our U.S. based mine is subject
to regulation by the Federal Mine Safety and Health Administration (“MSHA”) under the Federal Mine Safety and Health Act of
1977 (the “Mine Act”). MSHA inspects our mine on a regular basis and issues various citations and orders when it believes
a violation has occurred under the Mine Act Following passage of The Mine Improvement and New Emergency Response Act of 2006, MSHA significantly
increased the number of citations and orders charged against mining operations. The dollar penalties assessed for citations issued has
also increased in recent years.
Pursuant to Section 1503(a) of the Dodd-Frank
Wall Street Reform and Consumer Protection Act of 2010 (the “Dodd-Frank Act”), issuers that are operators, or that have a
subsidiary that is an operator, of a coal or other mine in the United States, and that is subject to regulation by the Federal Mine Safety
and Health Administration under the Mine Safety and Health Act of 1977 (“Mine Safety Act”), are required to disclose in their
periodic reports filed with the SEC information regarding specified health and safety violations, orders and citations, related assessments
and legal actions, and mining-related fatalities. Western went into active mining operations at the Sunday Mine Complex during 2021. During
the quarter ended March 31. 2025, Mine Safety and Health Administration (MSHA) mine inspections have not yielded any disclosures required
by Section 1503(a) of the Dodd-Frank Act.
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