Business
Open Offer to Shareholders
Open Offer to Shareholders.
About this update from Great Western Mining Corp. Plc
[{"type":"text","content":"\n \n\n Great Western Mining Corporation plc\n (the \"Company\")\n\n Open Offer to Shareholders\n\nThe Company posted the following letter and application form to shareholders on 29 August 2009.\n\n CHAIRMAN'S LETTER.\n\nDear Shareholder,\n\nAs you would be aware from the recent annual report for 2008 sent to shareholders, and from the subsequent well\nattended annual general meeting, much progress has been made in raising the exploration profile of Great\nWestern Mining Corporation's mineral leases in Mineral County, Nevada.\n\nOn receipt of a Competent Person's Report, your Directors have decided to move forward with the next phase of\nstrategic lease acquisition, geophysical testing, mapping and a limited core drilling programme, with the near\nterm objective of establishing a low cost heap leach operation from the high grade copper skarn deposits.\n\nTo finance this expanded exploration programme, the company is making an open offer to shareholders of\n15,000,000 new shares at STG 14 pence per share to raise a maximum of £2,100,000 before expenses. Terms and\nconditions of the open offer are contained in the attached memorandum.\n\nAs in all exploration, this is a speculative venture and only those who can afford the risk involved should\nconsider further investment.\n\nYour Directors believe our company has promising prospect with considerable upside potential and scope. World\ndemand for industrial and precious metals as well as uranium continues to grow even in a difficult business\nclimate. Deposits of such in politically secure regions of the world should attract premium prices.\n\nI look forward to corresponding with you again with an update before year end.\n\nWith best regards,\n\nSincerely,\n\nEmmett O'Connell\nChairman.\n\n GREAT WESTERN MINING CORPORATION PLC\n (\"the Company\")\n Registered Office: 6 Northbrook Road, Dublin 6\n\n APPLICATION FORM\n\nTHIS APPLICATION FORM IS PERSONAL TO THE INDIVIDUAL NAMED ON THE ENVELOPE IN WHICH IT IS ENCLOSED. IT MAY NOT\nBE ASSIGNED OR TRANSFERRED. IT IS NOT A NEGOTIABLE DOCUMENT AND CANNOT BE TRADED. IT DOES NOT COMPRISE AN\nOFFER OR INVITATION TO THE PUBLIC TO SUBSCRIBE FOR SHARES. APPLICATION FORMS ARE ONLY BEING SENT TO EXISTING\nSHAREHOLDERS AND IN THE CASE OF ALL OF THE SHARES OFFERED NOT BEING SUBSCRIBED FOR BY EXISTING SHAREHOLDERS, TO\nA LIMITED NUMBER OF PERSONS KNO...