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Great Western Minerals Group, Ltd. Message Board

  • shamanhbc shamanhbc Nov 12, 2013 8:25 AM Flag


    Upgrade of resources. Finally.

    Sentiment: Strong Buy

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    • Oh my God!!!

      "....By the end of 2013, the Company estimates that its cash balance will be approximately $23 million....."

      GWG is insolvent in less than 12 months.

    • It's nice to see long suffering longs get a penny or so back, here and there, as they've been in a LONG, prolonged, stair step down, for a couple years now, being a cellar dweller. The increase in resources is good, however, imo, it pales in comparison of claims that wwwater made in the past, while making excuses for lack of progress about "Oh, can't put the (fill in the blank) plant here, nope, can't put it there, too many ree's below". :/

      Again, the good news imo is, that they have more ree's (but again, most people expected for that to be the case with all the $ spent drilling), the bad news, they are NOT fully funded, and do NOT appear to have the fund$ at this time, to build out the mine to market vision. Jimbo, no longer in limbo, as well as wwwater et al, babbled about "modular" facilities, and how they had what they needed to make it happen, or darn close. Even Poncho speculated that he thought that they had within 10-20M of what was needed to make the whole project "A go!". At present, from what I see, they are getting low on $$$, revenues have been far less than stellar, and the price tag for what it'll take to build the entire vision, looks to be quite a bit more than what we'd heard about in the past.

      Some over at SH, ramble on about how folks are likely "lining up" to fund this thing. I'll believe it when or if I see it. Right now, Marc hasn't been saying too much imo, and it reminds me more of the movie, Oliver Twist. NOT bashing, merely calling it as I honestly see it. That could change, if the FACTS change in an objectively positive way. As for this pr, not impressed, but, we'll see...

    • Another brick in the wall. I am fully prepared for this company to go into BK. Timing, market conditions, management, funds, etc all contribute to the drama. But this is how the river runs--just hope we have a good pilot this time. If management is good, then all the passengers should be safe. Cheers.

      Sentiment: Strong Buy

      • 1 Reply to shamanhbc
      • shaman- Until this report, I was also thinking 6 months survival max. But when you can issue a compliant report that pretty much triples the definitive resources at the mine and probably comes close to tripling the life of the mine, I would think that either the shares should experience a slow but steady climb or a suiter might come knocking. the problem is the offering price would need to be close to $.75 to make many of us the least bit pleased.

    • Don't get your hope up, Shaman. So what if there is more ore under surface? GWM has not demonstrated that they know how to get it. Even if they do get it, what they do with it?

      Is the separation plant built? What happen to our Chinese partner? What happen to Gary Billingsly? What happen to Jim Engdahl? What happen to Jack Lifton?

      If that African mine is so valuable, Do suggest that GWM sell it. That right, sell it to a company which know what it is doing. Divide the proceed among shareholder.

      Do realize that you invested lots of money here. You were fooled just like the rest of us. Canadian make a habit of the "mining scam". Management change company every few year. It not investing, Shaman, it gambling. Don't get your hope too high.

      • 2 Replies to do_lo_smith
      • No scam, just high failure rate. Mining is very speculative investing. Learned that at boot camp.

        Sentiment: Strong Buy

      • Don't get Do wrong. Do like Canadian. They very nice people. They have one problem...they live in Canada. Not much to do in Canada. Especially Saskatoon. Watch ice hockey game. Hunt for moose. That about it.

        Canadian have lot time on their hand. They dream up scheme how to make money. They like the "mining scam". It work all the time. It go like this:

        1.) Buy piece of land.
        2.) Have survey done. (by brother-in-law).
        3.) Have a few beer as results are being examined.
        4.) Announce the "unbelievable results" as determined by metalurgist..also brother-in-law.
        5.) Hire a stock advisory company. (you guessed it...another brother-in-law)
        6.) Have few more beer until word is spread.
        7.) Contact MINING MAGAZINE. Offer editor some share to write good story. (That where Lifton come in.)
        8.) Sell million share of stock @ $10. per share.
        9.) Issue stock option to all insider.
        10.) Issue company credit card. Drink more beer. Order pizza. (all on the shareholder dime.)
        11.) Have PEA done.
        12.) Wait for result with more pizza party.
        13.) Release new finding.

        As time go on, the shareholder become anxious. Pizz-off. CEO resign. Go to another mining company. New CEO is hired. This guy have incredible resume. He going to lead us to "promised land". First thing he do is request new survey. Then drink beer. Then repeat steps 4 and after.

        As word to old song go....."and the beat go on. And the beat go on".

        This is life in Canada.

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