Business
Audited Final Results for the year ended 31 Dec...
Audited Final Results for the year ended 31 Dec....
About this update from Great Western Mining Corp. Plc
[{"type":"text","content":"\n \n\n 26 May 2009\n IEOOBIFR8863/GBP/PLUS-exn\n\n GREAT WESTERN MINING CORPORATION PLC\n\n Audited Final Results for the year ended 31st December 2008\n\nChairman's Statement\n\nThe year 2008 witnessed exceptional progress by your company, Great Western Mining Corporation Public\nLimited Company (\"GWMC\"). From a standing start as a public company admitted to trading on the PLUS-Quoted\nMarket in London in October 2006 following a share placing at 3.5 pence sterling, the price rose steadily\nto a high of 33 pence sterling before softening to 16 pence in late 2008. Your Company received the LION\nCapital Limited \"Best Resource Stock of 2008\" on the Plus Market at an award ceremony in London.\n\nThis was not a simple case of happenstance. The years 2007 and 2008 were marked by a series of developments\nwhich have caught the attention of both the marketplace and sections of the mining industry itself.\n\nOriginally intended as a pure Gold and Silver play based on old claim data from the files of a deceased\nprospector, the venture soon morphed into a potentially viable Uranium play with associated metal values of\nGold, Silver and even minor Platinum group Mineralisation. The area under claim rapidly rose from 21\nindividual claims, to, at the last count, 139 claims covering an area of some 12 square kilometres.\nCanadian and American exploration companies were drawn into the immediate area adjacent to our claims.\n\nIn addition to the precious and energy metals, a new and some might say, original interpretation of the\ngeological formulation of the area has raised the prospect of a major porphyry copper deposit underlying\nmuch of the immediate area.\n\nIt is for this reason that the Competent Persons Report (\"CPR\") begun last autumn, has been delayed and\nexpanded to take in the increased flow of information, including three bulk sample leaching tests and\nnumerous samples taken from the existing adits, trenches and pits both new and old. It is expected that the\nCPR will be completed before the Annual General Meeting and relevant excerpts will be posted on our\nCompany's website.\n\nDiscovery was never easy. Were it otherwise the market values placed on minerals of all kinds would be far\nless, and many of us prospectors might be selling shoes in some basement haberdashery. In that regard I\nwould like to thank my colleag...