Business
First Day of Dealings on AIM
First Day of Dealings on AIM.
About this update from Great Western Mining Corp. Plc
[{"type":"text","content":"\n \nRNS Number : 5621M Great Western Mining Corp. plc 18 August 2011 \n \n\n18 August 2011\n \nGreat Western Mining Corporation PLC\nFirst Day of Dealings on AIM\nSignificant Gold, Silver and Copper Play in Nevada\n \nGreat Western Mining Corporation PLC (the \"Company\" or \"GWM\") announces its move from PLUS to AIM. This follows a successful fund raising with net proceeds of £979,195 which will be used to fund the start of a drilling programme.\nDealings in GWM's shares will start trading on AIM at the start of business today.\nSince the Company's incorporation in 2004 and following a total estimated investment of €2 million, GWM has surveyed and staked 896 claims covering 7,305 hectares and has conducted extensive exploratory work. This includes sampling, aero magnetic, magnetic and IP ground geophysical, ASTER image studies and metallurgical testing. \nThe recently published Competent Persons Report highlights the extensive mineralisation on the property with surface outcrops of gold and uranium in addition to significant copper and silver targets.\nPlacing Statistics\nPlacing Price per Ordinary Share: 11p\nNumber of New Ordinary shares placed: 8,901,773\nGross Proceeds: £979,195\nMarket Capitalisation on admission to AIM: £6.4 million \nNumber of shares in issue following admission: 46,389,201\nBusiness Summary\n \nGWM's operations are based in Mineral County, Nevada and all of its claims are located on the Walker Lane trend and Golconda Thrust Fault, in the Excelsior Mountain range which hosted a number of the 19th Century \"bonanza\" mines. The Company is incorporated and headquartered in Ireland with the Chief Executive, Melvyn Quiller based in offices in Colchester, England. \n \nEmmett O'Connell, Chairman, GWM, Commented:\n\"We are delighted with the continuing investment support and belief in the value we intend to deliver to our shareholders via the remaining two year stage of this long term project. We were very encouraged by the conclusions of our Competent Person who published potential target possibilities of 25 million tonnes of Disseminated Silver, grading 102.9g/t; 25 million tonnes of Disseminated Oxide Copper, grading 0.6% and 3 million tonnes of Epithermal Silver Vein, grading 514.3g/t.\" \n18 August 2011\nEnquiries:\n\n\n\n\nGWM\nEmmett O'Connell, Chairman\nMelvyn Quiller, Chief...