Member Info for mcadder

Yes good RNS this morning. Sign of things to come so can't see it staying at this price for long....

Director/PDMR Shareholding
Mon, 20th Jul 2020 17:07

RNS Number : 5409T
Great Western Mining Corp. plc
20 July 2020

Decent director buy just out from Andrew Hay - 10M. This is starting to look very interesting now

"Now they should go full throttle for the early Gold production in Q4 from the heaps at Olympic, Mineral Jackpot and Huntoon and its game on, one word of this and it will take off. All they need to do is execute some good news flow & pr around this, theres no better time with Gold, Copper and Silver flying."

Tradedesk....I would certainly agree there!

There are definitely pros and cons to Great Western and for obvious reasons I'm relatively optimistic.

In relation to your point you made.... "theses areas have been explored before so its unlikely to be a massive undiscovered find here IMO)"
I would disagree there as they have confirmed there are large unexplored areas that the company are targeting.....

RH GROUP SOIL SAMPLING RESULTS
survey has clearly identified three separate highly-prospective zones of mineralisation, which will be followed up as soon as possible with further exploration work. The three zones identified are designated:
· Eastern Shear Zone
· Southern Alteration Zone
· Northern Slate Zone

Brian Hall....."Unlike the Mineral Jackpot area, in the Black Mountain Group to the west, for which soil sampling also produced positive results for precious metals, the RH group has never previously been mined and its potential was initially identified through very clear satellite imagery, now supported and verified by sampling on the ground. The terrain at the RH Group is easily accessible which will make further exploration work relatively straightforward to accomplish"

OLYMPIC - "Surface exploration in the project area has identified at least four main gold-silver, drill-ready targets, some of which have not been drill-tested in the past. The OMCO mine shaft area itself has only been partially tested and has further potential for gold discovery."

"to conserve as much cash as possible, it has introduced a range of cost saving initiatives including agreements with Directors and staff to defer 30% of their salaries"

The admin costs since Nov are likely to be quite a bit lower since Brian took over hence my reckoning of around 900k

"16 Jul they raised £450,000 gross
27 May they raised £217,500 gross
Cash in the bank as of 31 Dec 19= £306,675"

Slight error there Mr G..... Here goes....

Cash in the bank as of 31st Dec 19 - £306,675
Raised £320,000 gross 20th Feb
Followed by £217,000 gross 27th May and
Finally raised £450,000 gross 16th July

= Max poss £1.29M

Which explains why the company said they were in a strong cash position only a couple of months ago.
Which also explains my reckoning of around £900k. It may even be slightly higher than that as since Nov they have not had to pay David Fraser's salary due to him stepping down along with Melvin Quiller who retired at the same time.
Plus this from 23rd April RNS....
"to conserve as much cash as possible, it has introduced a range of cost saving initiatives including agreements with Directors and staff to defer 30% of their salaries. The Company remains in a good cash position".
Cash burn is likely to be less now than what many think imo.

So Greenspan this statement.....
"What’s clear is that without the placing this week they would have been totally skint, no wonder they had to raise cash" IS NOT TRUE.
Sorry to burst your bubble there.

Agreed, I can't think of any other listed company with such a low mcap, decent amount of cash in the bank and potentially on the verge of generating decent revenue from the off especially given the price of gold currently.

Tradedesk.... with the Olympic site it indeed could be potentially 3 sites where we could be looking at early production of not just gold but silver too.

"We have a busy programme for 2020, including trenching and drilling as well as leaching historic spoil heaps for gold and silver."

The Olympic Mine project encompasses a large volcanic-hosted epithermal precious-metal (Au-Ag) system that includes both high-grade quartz-adularia veins and disseminated/stockwork-type
mineralization. Historic (1917-1942) production from the shallow underground Olympic mine totals approximately 40,000 ounces gold, from 45,000 tonnes of ore averaging 30.0 g/t gold and 30.0 g/t silver.

(Taken from -
a contributions to economic geology 1921 paper)....

"the Olympic mine has produced more than $700,000 from ore of good grade $16 to $20 a ton in gold and silver"

The Olympic mine project is favorably located in the central part of the Walker Lane Mineral Trend of western Nevada. The property displays similar geologic characteristics of many other major volcanic-hosted gold deposits in the Walker
Lane belt (Paradise Peak-1.45M ozs Au, Rawhide-3.0M ozs Au, Tonopah-1.8M ozs Au).

Outlook: The Olympic Mine project exhibits similar hydrothermal alteration, host rocks, styles of mineralization and structural setting of major volcanic-hosted gold deposits in the region (Paradise Peak, Rawhide, and Tonopah). The project has only seen limited exploration drilling
(total 47 drill holes) over a large area, and several quality gold targets remain untested.

"Several quality gold targets remain untested"

No wonder they are looking to accelerate work at the Olympic site!

The revenue generation from the gold will be a game changer for the company and may remove the need for further placings for a while so with this in mind and now around £900k in the bank activity should start to ramp up on all fronts including the Olympic site.
My guess is they will use boots on the ground over in the states to make this happen in the mean time.

Just give it a rest hey Greenspan, there are many people including myself that use this chat board to talk about the company who are genuinely invested and no one is at all interested in your continued spamming of this board and numerous others. No one is interested in who said what to who frankly so kindly go and vent your frustration elsewhere.

Getting back to business here following the attempt at a personal attack on me, I can see a positive few months ahead of us.
Gold stayed above $1,800 closing at $1,810 and we now have several assets where work can commence to complete the mineralisation and drilling program with production of first gold expected Q4 2020 as per company's presentation.
Should see an increase in PR from the company soon as things progress....

You really are looking silly mate. Think you've lost the plot I suggest you go get some help.

Company had plenty of cash before this placing and now they have even more cash to accelerate operations and be able to get more done plus they are cashed up to 2021.

Company a couple of months ago even confirmed they are in a good cash position.

Everything I've written is true so deal with it or move on. I actually feel sorry for you haha

I never said you posted on Nuog - so where's the abuse? Think someone's had a few too many sherberts fella

Thanks for taking the time to go back through my posts....shall I go back through the tripe you write? Naaa did that a couple of months ago and showed you up then so I won't humiliate you again.

Incidentally you brought up the fact I was a Nuog TR1 holder back then so nothing new. You tried to twist things about me back then like now. Sorry fella I'm too thick skinned to care what you think or say about me.
Was a long term holder there for 8 months prior to realising the company was about to run out of funds and had failed to secure a deal. That's not the case here and I stand by what I said about funds for gwmo. Company now has around 900k in the bank which means they can do even more work out in the field at RH, MJ and now Olympic.
So they had enough money before and they have enough to progress numerous assets and have enough cash into 2021.
Anyone can read my posts and see that they are fair, reasonable and not in any way misleading.
So grow up fella if your even capable of doing so ;)

Ding dong and the prize for the loser of the week goes to.....you guessed it....Greenspan.

If you want to play that game Greenspan of just posting sells well here's all the trades for last 40mins of trading yesterday....all buys

16:33:00 0.103 717,716
16:32:25 0.10 10,000,000
16:26:44 0.097 5,148,453
16:00:32 0.097 1,541,288
15:59:01 0.0973 470,900
15:56:13 0.0975 1,015,435
15:56:03 0.097 3,000,000
15:54:35 0.097 198,447

Cash in bank likely to be between 900k-£1M now so good thing is the company have sufficient funds to progress work on not just the MJ and RH areas but the Olympic too hopefully utilizing personnel in the states.
So potential for news on two fronts short term now in relation to first production of gold.

There's plenty more funds if this drops any further so don't worry your pretty little head Greenspan. Ready and waiting....

They're not they're just a long term troller/trader so I wouldn't have too much sympathy.

I've already had my waffles for today thanks just before I bought a few more at 0.097 just below placing price