Member Info for Setanta1

@Sanboy. Interesting figures you reproduced. In effect the recovered value for gold and silver from the spoil heaps with cyanide leaching would be circa £2.5M and with gravity seperation circa £1M in a best case scenario. And those figures don't take account ofany capital or processing costs.
Even the gross figures wouldn't do much to turn GWMO into anything remotely like a serious gold producer. Nor would they allow for the construction of a cyanide leaching processing plant which GWMO does not yet possess.The only hope is for a major discovery and a subsequent JV.
Despite my sell I am still well invested here but I must confess that my confidence is waning. I'd like to be proved wrong but I doubt that I will be.

@aprogerson. Very interesting post, especially the second paragraph. But I'm afraid my confidence in the management of GWMO is at a low ebb. I suspect that what will be announced from the tailings will not be impressive, and the activity carried through this year , together with the pace of the activity, is not impressive either. I know we're in Covid times but that may well prevail for a long time yet. Meanwhile GWMO is dependent upon work being carried out by local contractors who don't seem too fast off the blocks.
Anyway I still have a decent number of shares here so I'll leave those where they are for now to see how your possible prognosis works out. They're the only part of my GWMO investment where I'm showing a loss.
By the way I still feel that GGP has a long way to go !! Go well.

Good posts MM and B-I, and everything you say about GGP is true. But you didn't mention that not so long ago GGP made an amazing discovery in Havieron in a very opportune place,( as B-I mentions ), and that fact has created one of the most amazing companies. I doubt that GWMO will ever create such behemoth. I also doubt that they expect to do so.
Gold mining is mega capital intensive and the route that the BOD of GWMO are proposing to travel would,(if successful), take them very very many years and huge amount of capital. And this is AIM. Shareholder don't wait for years to see a decent return on their investment.
As a matter of interest I sold 20M of my GWMO holding today but the transaction still hasn't appeared. But the money in in my trading account.
Today Iv'e read here of two investors who sold all, or some, of their GGP investment. A pity because GGP gives all the signs that it's only getting into gear.

I've just sold a sizeable quantity with the help of my good broker. The trade will ,no doubt, appear after hours this evening. I still hold a decent chunk, but I''ll wait for the RNS,( next week, hopefully) ,to decide what to do with those.My rationale for the sale is that I now don't see GWMO getting very far as a miner. But they have just done a placing which will provide good salaries for the management team for another six months or so.
@aprogerson. I'm sorry you had the misfortune to sell GGP to put money in here. Even GGP is not a miner and where they are today is an unlikely point of arrival for GWMO.
So far GWMO have taken material from spoil heaps, and done some magnetometer survey work which,on the face of it, may look promising but that is a million miles away from meaningful drilling in a manner that might attract a JV partner who would put in the kind of money that Newcrest have put into GGP. And,as yet, GWMO haven't even mentioned the possibility of attracting a JV partner!

The value of the RNS is reflected in the illiquidity of the share. One can't buy or sell more than 1M.Is that what good news does?
What we've had this morning is a repetition of the news about the spoil heap minerals and the magnetometer surveys,(already presented), and a declaration that the magnetometer work will continue when " the worst of the winter" is over.
Meanwhile the MM's are hardly even making a market. Success?

The first post here for almost two days. And looking like the last post!! Try to sell some online. Just like visiting a graveyard!

somebody on our overweight,(in terms of numbers), and underworked management/ Bod got the finger out and gave us some news. They're probably not too bothered now that they've got the circa £1m available to pay their salaries for the next six months. Wakey, wakey guys you do have shareholders y'know.

Can anyone tell me why GWMO has set aside it's impressive Jorc compliant copper resource as for just "desk work"? There is a growing worldwide shortage of copper and of areas containing promising copper resources. GWMO clearly has enough staff to seek a JV for their copper. So why is it (apparently) being abandoned?

@Foolsand horses. The Walbrook PR item isn't very impressive. It presents a couple of pieces of information that were already well known . It isn't dated, and it could have been presented by any member of the underoccupied management team. And we're paying for that sort of pap.
But thank you for posting it. The intention was clearly good.

On closer examination the management of the company doesn't look too impressive. One geologist in the senior management and at least three directors whose background is finance,(two Chartered Accountants). Not a good balance for an aspiring gold miner gold miner In just over a year they have raised over £2.5m by way of placings and warrants. That is impressive and it would be interesting to know how much of that has been spent on salaries. Not a great deal has gone on the exploration side. It would also be good to know how many of the seven person senior management have spent time on the ground in Nevadaa this year!
I understand the rationale for the placings. A company can't be developed without cash, but the amount of the cash raised and spent should favour productive purposes rarher than executive salaries.
The Company is a poor communicator and that may be because they have nothing to say which may be of consequence. But silence on AIM is,usually, not golden. So the upcoming news on the spoil heaps needs to be very positive.

apr, they've already said that the £1.1m will be used " to accelerate the Company's drilling activity" at RH, MJ, OMCO, Trafalgar Hills. You're never going to find out how those activities will add value vs cost vs risk because you will never be given any precise cost information.
Also the declared intention is to use part of the funds for the evaluation of new opportunities. Now that really troubles me. When a mining company which has made poor progress to date is looking at new opportunitie rather than looking to progress it's current opportunities it is usually shorthand , (on AIM ), for " feather our nests for another year". What the BOD needs to do is to give a positive update in relation to the spoil heaps production, which is the only binding promise it has made, and then provide us with a detailed plan for 2021.

There isn't very much progress to update. The only material matter relates to the gold production from the spoil heaps. The only other activity has been related to magnetometer surveys which are much less than crucial. Nobody from the GWMO Board has visited Nevada in the past nine months so they will be relying on updates from local contractors.
I am much more interested in hearing the rationale and the proposed use of the recent £1.1m placing.
Those predicting a ten bagger are totally unresearched here, or just amusing themselves. And vauch, if I were showing a mere £4k deficit for GWMO I'd just sell up.

As I reassess my previous research I am having some difficulty in understanding the rationale for the last placing. GWMO received £500k from the warrants attached to the penultimate placing. They haven't been able to send anyone to Nevada for the past nine months and I would have thought that the £500k would have been more than enough to satisfy the cost of the spoil heap processing. So where is the justification for raising £1.1m in a placing when there is no current drilling taking place. Executive salaries? Wake up BH. Lets know the truth.

We're still waiting. There will not be any news of drilling simply because there hasn't been any drilling. The only substantial news we await relates to the spoil heaps processing which may,at least, indicate the presence of decent amounts of gold. The 25T of material removed during October was given to a local contractor for processing. 130 kg of the material was sent to a Uk lab for testing. We should have had results on those activities by now.
The alleged purpose of the £ 1.1m placing was to "accelerate the company's drilling activity". There is,as of now, no drilling activity!
I didn't find the last BH podcast very convincing. He came across as someone who spends most of his time sitting in a UK office , occasionally dealing with the contractors and the few employees on the ground in Nevada. That won't produce the results we need. As I pointed out in my previous post a few low cost magnetometer surveys shouldn't be expensive or ultra time consuming.
But I'm still invested here because there are signs of life,(the spoil heaps), and because the GWMO holdings are in a mineral rich area. My problem lies in my perception of the BOD at this time. I won't be surprised to see a RNS regretting our inability to process the spoil heap material for lack of a suitable contractor. I'd like to be proved wrong.

What we need to see now from the BOD is a clear statement indicating the success of the spoil heap gold production which has been indicated. That will give investors something to cheer about and it should enliven the SP.
There is no mention of negotiating a JV for copper. The activities at OG, TH and RH is solely related to magnetometer surveying which, in effect, entails a man walking the terrain with a magnetometer on a pole. Not particularly expensive work and hardly justifying the raising of £1M . The next stage should be drilling the most promising part of the tenements. No mention of when just yet!
MJ requires drilling but due to the difficulty of the terrain that can only begin with a small drill and , yet again, there is no indication of when that may begin.
We still have no idea who subscribed the £1M for the recent placing. That in itself might give an idea of prevailing confidence.
Looking back over the past few months the BOD hasn't come up with any fresh or invigorating news. That is what's badly needed here!

The answer, for anyone prepared to read the placing RNS , is not very much really apart from the promise to produce gold and silver on a "trial basis" before the end of the year. So the SP, in the near future will depend upon that event. Depending upon the success of that trial venture the SP will prosper or stagnate.
The only real route to success for GWMO will be found by producing results which in the short term will attract a JV partner. That might happen after the MJ results are announced, but up until now there hasn't been any suggestion that the BOD are even looking for a partner. Nor has the BOD indicated whether it ultimately wants to try to be a miner or an explorer. That's whats lacking in their communications.
What gives me a lot of hope is that there are several investors heavily invested here,and I assume that they have been given information by the company which smaller punters have not been given. So far they are holding strong!
Also I would like to know who bought the 550M placing shares. I think we may get to know something of that next week, providing the possibility that the SP may pass .3p in the short term.

The RNS related to the placing gives the impression of a busy BOD who know where they are trying to go, and I feel that that it is a good augury for the future. The gold recovery from the spoil heaps is still marked in albeit a warning is given that it may not be for a vast quantity. And all the other projects are stated as being accelerated by the new placing. Even new projects are accorded honourable mention.
Which PI loves a placing ? None that I know, but cash is necessary to take businesses forward. Not a few months ago this share had a .1p value and now the company can raise finance at .2p. Moreeover the warrants price has,(mostly), been set at .3p All encouraging signs which make me think about going again when the new shares are added.
Just a final point. it would be good if all those who are using this board to insult each other would stop doing so. It achieves absolutely nothing because they rarely make any worthwhile commentary on the progress of the conpany. Mostly all they do, (apart from gratuitiously insult each other), is to slaughter the Queens English to such an extent that it is difficult ,at times, to understand what they are trying to say. No one can be prohibited from posting for illiteracy,(it seems), but try to remember that other posters are trying to comprehend what you are writing!!

is generally a foolish activity. Especially on AIM. One is certain to get guesses which range from the sublime to the utterly ridiculous as we've seen today. It's best to devolve ones own realistic guesstimate,( being the price one would be prepared to sell at), and then keep it to onesself.
But should I wish to be guided on this board I'd look no further than aprogerson.
You know I'm very tempted to go again as I watch the current trading development, but I'm fairly close to a declaration and I don't want to do that.
I really do think we're close to some tasty news. That's just my guess, of course !

to show some form now ! News ought to be very close, and that will tell the tale.And ,GW, the Pfizer vaccine is a reality. If you can't believe in that then don't take the risk that buying GWMO would entail. I believe in both and I'm very happy with my holding here. And I expect an imminent leap up! And a vaccination in the next few months!

I,ve just bought another 8M so I'm very close to a TR1.