Traderfan Re GWA.v GWSAF Gowest Gold Ignor last post
Been a failure for me to date, but I think the worst is in the past. Development ore on surface. If all goes well, they should run the Bulk Sample Q3. On site Ore sorter should net 10GPT, and their expecting their mining license any week now
All year, Company has been guiding these milestones for Q3. Covid is slowing progress but Guidance still the same. Last I checked its still early Q3.
Its real simple over there. 1.2 M oz resource 6+gpt .5M reserve 4.5gpt.
Several million in underground mine development, ore sorter set up. Development ore on surface is worth about 4 Million today. Feasibility study showing $895 AISC at 50K oz per year production is still accurate.
The failure was due to the failure of the milling contract during the bottom of the market at which point there was a sustained low price for gold and minimal financing for the sector. This was the equivalent of a car going through an intersection and being broad sided. It cost them 2 years in time, a call on the loan and even worse, Dilution.
They pulled through and are on the home stretch now. The final permit and the mill are nearly ready. The recent $10 Million from the insiders should tell you something. They are developing as we speak. I think the final financing is ready. $10M should get the bulk sample run. Then GWA gets revenue on that and with the mining license should keep running.
Ill agree with shareholders they should be talking and promoting more as opposed to stretching out news.
Now on the potential? GWA currently sits at a $25M MC.
Sprott values insitu at $100 per ounce of resource $120 M
that coincides with what we saw for insitu during last gold bull.
On site development value? Several Million
with $1800 - $2000 gold and 50K production, 895 AISC GWA will cash flow
between 4 & 5 Million per MONTH! From there they have the milling and resource capacity to ratchet to 100K fairy easy with a few CAPEX dollars. 100K ox producers were going for 1 Billion MC all day long in the last bull.
Interest? I think GWA is unknown, mgt has some dents, is unproven. The big guys are waiting for the last boxes to be checked.
On the pattern? My account looks good. Im happy with most of my pics even the losers as I had good reasons to be there. You dont win them all, esp the sub producer catagories. Other astute investers here have posted about the losers during the long tough bear. As to GWA, while things were moving forward nicely I posted positive. When GWA got broad sided I posted GWA was in trouble and put them on the shelf for a couple years. I went away and came back when things looked positive. I suggest you do your own DD and take responsibility.
Its a speculation. They do it or they dont. Place your bets or dont.
Since its better to chase producers now I dont post much on my speculations.
Checkmate28
