Business
Interim Results
Interim Results.
About this update from Great Western Mining Corp. Plc
[{"type":"text","content":"\n \nRNS Number : 9709R Great Western Mining Corp. plc 18 September 2014 \n \n\nGreat Western Mining Corporation PLC\n\n(\"Great Western Mining\", \"GWM\" or the \"Company\")\n \n Interim Results for the six months ended 30 June 2014\n \nGreat Western Mining, the AIM (AIM: GWMO) and ESM quoted mineral exploration company with 73 sq.kilometresof mineral claims in south-west Nevada USA, is pleased to report its Interim Results for the six months to 30 June 2014.\nHighlights: \n· Pre Tax Loss €258,730 (€211,833 in H1 2013)\n· Basic and Diluted loss per share (cent) 0.11 (0.33 in H1 2014)\n· Successful placings raising £2,300,000 (gross) well supported by new and existing shareholders\n· 14000 feet Phase 2 Drilling Programme at M2-Smith completed \n· Target 4 Phase 1 Drilling Programme permit application submitted\n· Initial Field Programme EM Group, JS Group TUN Group completed\n· M1 geochemical soil sampling programme planned\nDavid Fraser, Chief Executive of GWM commented: \n\"We are greatly enthused by the results received thus far from this year's exploration activities, and we look forward to progressing ongoing works towards further results, across our extensive claim area. The Board remains committed to driving shareholder value, and we are confident the next six months will see us report substantial developments.\"\nChairman and Chief Executive's Statement\nThe Company is focused on exploration and currently has no operating income, consequently incurring a loss in the reporting period of €258,730 (€211,833 H1 2013). GWM finished the period ending 30 June 2014 with a cash balance of €2,175,640 (€278,475 in H1 2013).\nDuring the first half of 2014 the Company was able to successfully complete two institutional placings, raising total gross proceeds of €2,803,700 (£2,300,000). This enabled GWM to progress two of the Company's major prospects held on a 100% working interest basis in the Marietta District, Mineral County, Nevada. \nGWM announced, in August, the completion of a 14,000 feet drilling progamme on the first prospect, M2-Smith, and is awaiting completion of a JORC compliant report, which the Company expects will enable it to ...