GWA First operationally on site, things were going great. Two shifts, nice drill results, new high grade zones and 30,000 tonnes of ore on surface ready for the mill. Thats worth something and GWA has something to offer here. There are other truckable places to process the ore. Certainly dont think GWA is sitting on their hands and isnt checking options out. The ore sorter wil help minimize the volume shipped but no reason to push that with no mill deal. Also factoring is GWA was in a binding agreement and is not now.
Its also been no secret, there are holdups from mining officials getting things officially finalized with the mill. Link back, Ive warned this a couple times. Should GWA shoulder the blame here?
Short term PP. Thats a killer thinking about that now. Remembering GWA insiders hold more shares then us all combined, Im sure they were not planning a low price financing all along or that they knew this deal would not finalize? Keep in mind, a short term tolling agreement with Northern Sun at the RedStone Mill makes the most sense and could come before or after the possible PP. No other miner/developer near Timmins can consistently provide volume that Gowest can. Remember this is contingent on the MM and Environment requirements. Again GWA is at their mercy, but some near term election political/local gov pressure could open things up.
Bottom line, These are good people running the company. They are operating in their guidelines and given time parameters. Its clear to me, Gowest was pushing ahead and due to obstacles, just didn't get over the finish line fast enough. Then in full disclosure, gave us this update, stepped back for a minute and will progress with the best available deal.
I think most of this was priced in as investors exited due to delays.
.07 will prove to be a buying opp bargain (there he is pumping again) and GWA will take its best option and move forward towards processing its bulk sample and commercial production.
Checkmate28 s 2 cents
