RE: Gold grades in perspective.17 Dec 2019 05:54
Damocles - there's probably no better time to be invested in GWMO than right now.
Your point about the company 3yrs ago having potential with £3M in the bank doesn't really stack up nor does your point about the abandoned mines theory.
It's taken a good portion of that money as well as a great deal of time (weather permitting) to try and prove up some of the more interesting prospects the company have on the acreage they have the licence for.
And without the valuable data the company have acquired they would have found it impossible to attract a partner or indeed sell it on for a decent profit.
Regarding the abandoned mines they were worked based on a more primitive 19th/20th century understanding of what was potentially down there all those years ago. This is another factor that makes this an exciting prospect - being able to use 21st century data as well as much advanced mining techniques compared to the last century. So in a way I look at it in a similar way to an oil well drilled in the 70s that was plugged and abandoned but then looked at again 40yrs later by a major that have been able to gain a better understanding of what is down there and unlock the potential resource in an economic way.
Then look at recent developments that fill investor's with hope and a degree of confidence -
Recent bod changes
Better PR
Directors taking part in latest placing
Mr Hall forfeiting his salary for rest of 2019
Mr Hall also buying shares on the open market
Obtaining samples on schedule just as promised.
Much to be positive about along with this.....
"it has now established an inferred and independently-reported copper resource of 4.3 million tonnes of 0.45% Cu. The Company is targeting a deeply-buried zone within the host diorite rock, anticipated to be the source of the widespread copper and gold mineralisation found at and near surface at M2. The Company is reviewing financing and partnership options to fast-track progress and will keep shareholders updated."
"it believes modern technology can be used to rework abandoned gold mines, of which there are several on its properties."
"Gold (>0.1 g/t Au) was encountered in the samples taken, including a grade of 95.6 g/t Au and 773 g/t Ag, as well as further samples of 19.1 g/t Au and 15.2 g/t Au. Mineralisation appears to be present across an area of at least 2 km2, making M3 a large and highly prospective target."
Also the recent recovery in gold and copper prices is a big plus when getting a partner onboard.
So imo don't expect the price to stay in the 0.1s for much longer as this is going much higher short term.
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