THIS IS ONE BONUS !!!!!rocket !!!! gwgo sold yaba silver and gold to nmgl for restricted shares in nmgl which were common shares and the restriction was lifted in 1 year those divvies worked before so here we go its real and we are soon rich !!!! Great West Gold, Inc. - Acquisition of the Yaba Gold and Silver Deposits.
Publication: Business Wire
Date: Friday, March 3 2006
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NEW YORK -- Great West Gold, Inc. (OTCBB:GWGO) confirms that it has acquired the "Yaba" Gold Mining Project in Yavapai County, Arizona.
The Company has managed, through this acquisition to add to its Gold interests, for the benefit of its shareholders. The focus of the Company will be to exploit the huge surge in the price and demand for Copper in the last year and to focus its attention on the further exploration and possible production of the substantial Copper Mining Projects acquired today.
This "Yaba" Gold Mining project will be "on sold" to a New Company which will be quoted on an OTC Market in the United Kingdom and on the OTC Pink Sheet Market and the shares in this Company distributed to Great West Gold, Inc. shareholders as further Stock Dividends.
BRIEF SYNOPSIS OF PROJECTS:
This is a high grade gold and silver deposit. Underground samples have ranged up to 35 oz / T silver and .6 oz/T gold. Average silver grade is of economic interest at over 9 oz/T. Base metals values are also significant (Cu up to 1.7%; Pb up to 4.6% and Zn up to 2.5%). There are a number of 3' plus veins on the property. Mineralization is reminiscent of the "gold stope" at the United Verde Extension, and there is potential to discover a significant VMS base metals deposit under volcanic cover to the east.
This Project consists of the Monstro Verde placer claims and the Gold Dot and Tri-Metals lode claims in an area of 480 acres.
These Projects consist of two Lode and three Placer claims.
The Company will be filing a very detailed Form 8-K in respect of this acquisition with all geological data and work carried out on this Project to date.
A detailed Report of this Project is being prepared by Geologists and will be available for download from the Great West Gold, Inc. web site in and during next week.
COST AND FUNDING OF THIS ACQUISITION:
The Company has announced today that it has raised and additional US$1,500,000 in funding through the issue of Convertible Loan Notes. The amount of US$1,500,000 was raised from an Investment Group. The Convertible Loan Notes bear interest at the rate at the rate of 6% per annum and are convertible into Restricted Common Stock of Great West Gold, Inc. in whole or in part at any time at the discretion of the Loan Note Holders. The Loan Note Holders have undertaken that upon any conversion of the loans into restricted Common Stock of the Company, they will accept restricted stock under Regulation 144 and that the Company will not file a Registration Statement to create "free trading" Stock. These Loan Note Holders are committed to the long term growth of the Company and will not be in a position to dispose of any Restricted Common Stock of Great West Gold, Inc. (should
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