Last checked at 13 Jun 2023 12:00
GREAT WESTERN MINING CORPORATION PLC
("Great Western", "GWM" or the "Company")
Result of Annual General Meeting
Great Western Mining Corporation PLC (AIM - GWMO, Euronext Growth - 8GW) which is exploring and developing early-stage gold, silver and copper targets in Nevada, announces that at its Annual General Meeting held today, all resolutions were duly passed.
There were five resolutions of which four were passed as Ordinary Resolutions and one as a Special resolution. Voting on all resolutions at the Annual General Meeting was conducted by poll and the results are as follows:
Resolution | For | % | Against | % | Vote Total | Vote Total as % of Issued Share Capital | Withheld* |
1. To receive and adopt the accounts of the Company for the year ended 31 December 2022 | 414,834,122 | 100.00 | - | - | 414,834,122 | 9.06 | - |
2. To authorise the Directors to appoint the auditor and fix remuneration | 414,834,122 | 100.00 | - | - | 414,834,122 | 9.06 | - |
3. To re-elect Alastair Ford as Director | 406,802,733 | 100.00 | 4,389 | - | 406,807,122 | 8.89 | 8,027,000 |
4. To re-elect Max Williams as Director | 406,802,733 | 100.00 | 4,389 | - | 406,807,122 | 8.89 | 8,027,000 |
5. To increase the share capital of the Company | 405,741,733 | 97.81 | 9,082,389 | 2.19 | 414,824,122 | 9.06 | 10,000 |
* A vote withheld is not a vote in law and is not counted in the calculation of the proportion of votes "For" or "Against" a resolution.
For further information:
Great Western Mining Corporation PLC | |
Brian Hall, Chairman | +44 207 933 8780 |
Max Williams, Finance Director | +44 207 933 8780 |
Davy (NOMAD, Euronext Growth Listing Sponsor & Joint Broker) Brian Garrahy |
+353 1 679 6363 |
SP Angel Corporate Finance LLP (Joint Broker) Ewan Leggat/Harry Davies-Ball |
+44 203 470 0470 |
Walbrook PR (PR advisers) Nick Rome |
+44 207 933 8783 |
Notes to Editors
The Company has a large tract of acreage in Mineral County, Nevada. The area consists of rugged, mountainous terrain, which means that large parts of it remain under-explored. Mineral potential is hosted by the regional Walker Lane Structural Belt, the largest structural and metallogenic belt in Nevada, yet one of the least explored in recent times, with gold, silver and copper currently produced in Mineral County. Great Western has seven distinct concession areas which offer the potential for exploiting (1) short term gold and silver deposits and (2) long-term, world-class copper deposits.
Six of the Company's properties are in the west of Mineral County and are 100% owned and operated. The Company has an option to acquire a seventh property, the Olympic Gold Project, in the east of the county. Great Western's small exploration team is supported by locally based consultants and contractors.
The state of Nevada is generally considered to be one of the world's most mining friendly jurisdictions. While tightly regulated and environmentally conscious, Nevada welcomes the mining industry. Great Western takes care to ensure that its claims are maintained in good standing and all regulations observed.
There are numerous gold and silver prospects on the Company's acreage, including extensive historic mine workings which offer the opportunity for secondary recovery. The Company is party to a 50-50 joint venture known as Western Milling LLC which is constructing a mill to process pre-mined material for secondary recovery of gold and silver.
Furthermore, through extensive drilling over a five-year period, GWM has established a Mineral Resource on its first target area known as M2, of 4.3 million tonnes at 0.45% copper, for 19,000 tonnes of contained copper metal. This resource has been independently reported in accordance with JORC guidelines.
GWM has established an Inferred Resource Estimate of 31,000 tonnes grading 1.6 g/t gold and 3.0 g/t silver in tailings for the OMCO Mine at the Olympic Gold Project. It has also established Exploration targets. In addition, the Company has reported an Exploration Target as follows:
· 3,400 - 6,400 tonnes grading between 0.5 and 1.2 g/t Au and 1.2 and 2.1 g/t Ag in the substrate beneath the tailings volume at the Olympic Mine.
· 9,000 - 12,000 tonnes grading between 0.9 and 2.4 g/t Au and 2.0 and 5.1 g/t Ag in a coarse stockpile at Olympic Mine.
· 4,200 - 7,700 tonnes grading between 40 and 140 g/t Ag and 0.3 and 0.3 g/t Au in spoil heaps at Mineral Jackpot.