Member Info for mcadder

A few plus points for the company....

Under new management since Nov 2019 marking the departure of Mr Fraser and appointment of Mr Hall as chairman who has been involved with GWMO since 2012. (Look up BH's history, pretty impressive)

Strict financial controls in place allowing low cash burn. Fully funded for 2020 leaching/drilling programme.

Recent acquisition of Olympic gold project through Ely gold Royalties.

Impressive sampling results from earlier this year from MJ and RH areaa with huge potential for other areas too.

Management holding 10% + shares with BH holding 71 million.

News due on several fronts....

Thoroughbred....like it

Big re-rate is on the cards here and long overdue, just a bit of patience is all that's required.
Imagine selling a couple of million of these at 0.096 and then a couple of weeks later finding out you could have sold them for 3/4 times the price. That's how shortsighted some are here.

On another note the price of gold tonight is $1,796. Should continue a bull run over next few months.

Same here took another 588k this morning...

TRAVEL Published 51 mins ago
Pompeo: Working out EU-US travel restrictions key for economy
Pompeo says the United states is in "close conversations" with the EU to reopen and encourage international travel

By Lucas ManfrediFOXBusiness

The technology certainly exists to re-work the spoil heaps from years gone by with a far higher degree of success in recovering more gold from them. Let's say for arguments sake (guesstimate) that there is roughly 500 tonnes of spoil left over from previous mining. We know that sampling over their licence areas has provided results of anything from around 20 grams per tonne to 95 grams per tonne of gold.
So if we go with a low figure of 20 grams per tonne that would be.....

20 grams X 500 tonnes = 10,000 grams

10,000 grams = 400 ounces

400 ounces X $1,772 an ounce (closing price Fri)

= $708,800. Conclusion....definitely worth doing

Under-the-Radar Reasons Mining Industry Could Experience a 'Golden Year'
NetworkNewsWire Editorial Coverage

NEWS PROVIDED BY

NetworkNewsWire
23 Jun, 2020, 13:30 BST

NEW YORK, June 23, 2020 /PRNewswire/ -- Whoever has the gold, makes the rules—this expression seems apt for 2020, as a confluence of factors has analysts predicting a "golden year" for the mining industry. Three decades of dwindling gold mine discoveries combined with increased industrial demand for gold across numerous industries has put a serious floor under the recent rise of the gold price.

Gold price up 18.4 percent in 2019 and up about 44 percent since 2018 lows
Many analysts see gold going to $3,000 and as high as $10,000 per ounce.
COVID-19 impact and global market of near zero interest rates paints very bullish picture for gold prices, as well as safe haven demand.
Three decades of underinvestment and over-regulation has resulted in a shortage of new economic discoveries, even as demand from new sources begins to inexorably devour more of finite global production.

Anyone miss the RNS tonight for Great Western? I know I did, just seen it now....

RNS Number : 5684Q
Great Western Mining Corp. plc
19 June 2020

GREAT WESTERN MINING CORPORATION PLC
("Great Western", "GWM" or the "Company")

ANNUAL GENERAL MEETING
APPOINTMENT OF TWO NON-EXECUTIVE DIRECTORS
NOTICE OF ANNUAL GENERAL MEETING

This bit is very interesting....

Andrew Hay

"Andrew Hay has had a long career in banking and is currently non-executive chairman of LGB Corporate Finance, the advisory business of LGB & Co Ltd., which advises growth companies across the capital spectrum. He has held senior positions at Schroders and ING Barings, in debt and equity capital markets and international M&A. More recently he was a statutory director of Edmond de Rothschild Securities in London where he built the corporate finance team and led it for over ten years. He has previously served as senior non-executive director of both Aminex PLC and Independent Oil & Gas PLC and is currently a non-executive director of the holding company of Lloyd George Advisory. "


Alastair Ford

"Alastair Ford has spent most of his career as a mining specialist. He began his mining career as a journalist on the Investors' Chronicle and was subsequently editor of The Minesite.com for six years. From 2007 - 2013 he served as Chief Investment Officer at Mineral & Financial Investments PLC and he is currently a Mining Affairs Consultant for ProactiveInvestors.com."

Olympic must be a good proposition for Ely Gold to be involved. Good for Great Western to be involved with them...

Ely Gold Royalties Inc. (TSXV: ELY) (OTCQX: ELYGF) ("Ely Gold" or the "Company") is pleased to announce that Nevada Select Royalties Inc., a subsidiary of Ely Gold, has entered into an Option to Purchase Agreement (the "Option Agreement") with Great Western Mining Corporation.
Ely Gold retains a three (3.0%) Net Smelter Returns Royalty on any future production at the Olympic Gold Project.

https://www.streetwisereports.com/article/2020/06/18/junior-royalty-company-wants-to-be-a-major.html

Ely Gold has caught the attention of industry analysts. Noble Capital Markets analyst Mark Reichman awards Ely Gold an Outperform rating and wrote on June 16, "In 2020, the company has announced the purchase of 8 producing or near-term producing royalties and option/sale agreements on several properties, including OLYMPIC and White Rock. We believe potential exists for the company to announce additional royalty purchases this year and also increase the
company's exposure to projects in which the company already holds royalty interests."

"We do not buy longer term exploration royalties with no real net asset value. We generate those as either development or exploration assets in our portfolio. All our 21 development assets are at or near producing mines and of our 33 exploration assets, eight of them are currently being drilled. Most were generated internally through property sales. This allows us to focus on purchasing royalties with a clear net asset value by buying royalties that are at or near production."

Analyst Jay Taylor wrote in Hotline on May 8, "I think there is a lot more upside for Ely Gold given their pipeline of near-term producing projects as well as a LARGE NUMBER OF ATTRACTIVE EXPLORATION PROJECTS LOCATED MOSTLY IN NEVADA".

https://www.miningweekly.com/article/interest-in-junior-mining-finally-picking-up-says-american-pacific-ceo-2020-06-15

Interest in junior mining finally picking up, says American Pacific CEO
17th June 2020 BY: MARIAAN WEBB
CREAMER MEDIA SENIOR RESEARCHER AND DEPUTY EDITOR ONLINE
It has been a tough ten years for junior miners since the last gold bull market ended in 2011, but as the uncertainty of Covid-19 reignited an interest in metals, a new level of excitement has returned to the mining industry.

Gold exploration company American Pacific Mining (APM) CEO Warwick Smith sees “some form” of a gold bull run finally returning and says it is trickling down to the junior miners.

“It’s been ten years of challenges and trying to create interest in junior mining . . . to see it coming is fantastic,” he says in an interview with Mining Weekly, adding that now is the time for junior companies to perform".

Tbf if they pull this off 1p will be a bargain even with the current shares in play. Andrew obviously has faith in his large investment and the potential here especially with the new management in place.
Nice 6 million buy just shown up at 0.111p from 16:07..

Did I forget to mention company are now fully funded for 2020 and are in an extremely strong cash position especially for a small sub £5M company. Current Mcap below £2M!

Webley's position is a clear buy signal in my book. Even without it just look at the company's progress since Nov....
• New management team in place
• Focus on early gold production
• Potential for JV partner on Copper
• In one of best licence addresses in Nevada
• 100% ownership of licences and NO debt
• No Riverfort or YA death spiral financing....

The list goes on. A strong buy imo especially at current price.

Just noticed these tweets from Great Western, one from yesterday and one from this morning.....

Great Western Mining
@mining_great
23h
"On the road towards Mineral Jackpot prospect, with Boundary Peak on the horizon marking the California-Nevada border.
Mineral Jackpot hosts high grade gold & silver +/- copper lead uranium low sulphidation epithermal sheeted vein sets recently found to extend >2km strike length"

Great Western Mining
@mining_great
2h
"In 2019 Great Western carried out a detailed mapping and sampling programme at the TUN Group, identifying multiple gold copper bearing quartz veins and encountering further previously unreported historic workings along a 2km strike corridor..."

Recent Share Trades for Great Western

05-Jun-20 10:15:51 0.105 500,000 Sell*

05-Jun-20 10:13:36 0.12 4,166,271 Buy*

05-Jun-20 10:12:52 0.11 4,224,600 Sell*

05-Jun-20 08:07:56 0.115 168,739 Buy*

Definitely some games being played with this share. We have a 4.22M sell followed by a 4.16M buy only 44 secs apart. Looking at the spread of the 2 trades doesn't look to be a bed and isa. But even if it is simply one sell and one buy the MM's have marked this down 2.2% on just one 500k sell haha.
Do they think we are stupid or something? We all know where this is heading in the very short term price wise. Company cashed up for 2020, expecting to commence work on the ground out in Nevada any week now, lots of newsflow expected but not limited to just potential copper JV and first gold production for this year. Lots of potential catalysts to send this much much higher back to where it should be.

We're all fine thanks and thanks for asking lol. Ask us again in another year and we'll tell you how rich we all are

I wouldn't say so Numptybuyer.

Greenspan has been on here for the last few days stating their opinion that the company is running out of cash and that a raise is inevitable in a few months time. They then said they wouldn't be surprised if one came soon which it did today but not because of having no cash, it is to guarantee the company being fully funded for 2020 and to take their assets forward so it was a complete fluke on Greenspans part that it happened today.
Greenspan would have just kept mentioning a placing for each and every day until one was actually announced that's all. Not exactly rocket science that eventually we would need a further raise however by getting it out the way now puts us in a great position.
The company didn't need to raise money right now. They have imo nearly £500k to play with and said only at the end of April that the company is in a good cash position.
So with a further smaller placing out the way we can move forward knowing that for the rest of this year no further placings should be required.
We will hopefully be entering a news rich period soon and therefore there is now considerable upside with the share price.
There is also the potential for £600k worth of warrants at 0.16p to be exercised further down the line. In the current climate with a micro cap such as Great Western we are in a very very good position. It's just that Greenspan would like to make it sound to people on this board that the lights are about to go here and that there is no hope for any extraction or production of gold.
It's all there in the company's recent presentation for Immediate priorities....
Q4 Mineral Jackpot area....
First gold from spoil heap leaching
Q4 Huntoon valley....
First gold from spoil heap leaching

Plus this from the newly acquired Olympic Gold project.... "The OMCO mine shaft area itself has only been partially tested and has further potential for gold discovery." As we know historically the shallow underground mine produced 30K ounces of gold and 35K ounces of silver from only 35K tonnes of material which is pretty impressive.

ROFL is what Greenspan uses regularly so we can have a good long laugh at the entertainment they provide on the numerous chat boards that they frequent including this one. We very much appreciate it haha

Please share with us what ramptastic posts these are then? If it balances out the drivel you post then that's certainly no bad thing.

See you all at 1p+.

Whoops perhaps that's a bit rampy for Greenspan but ok for everyone else haha

Take Cheemap's advice and move along now haha.

None of us long term holders want to sell much to your annoyance Greenspan so we'll just let this one play out thanks

No you haven't you've just proved over the last few days how misleading YOU'VE been which is why you went quiet over the weekend after you lost the argument over the current cash position of the company.