GWA.v Gowest Gold +%50 today and +%100 for the week. Anyone read my post? Potentially, from the PEA, they could be processing 95,000 oz/yr from a $60 mil CAPEX.
Gowest has aligned world class partners and their at the table listening to the Gowest pitch. That alone is a jumbo accomplishment most developers would dream of. Gowest needs only to pull out the bulk sample to prove to big guys that what they say they have, they really do have. Grades need to be there and metallurgy needs to work. Gowest is underground now working on the feasibility requirements and progress will be forth coming.
Xstrata Glencore & United Commodities AG have much to gain by tolling for Gowest as Gowest deposit is large enough to supply a large stream of ore allowing the 2 companies, at their own costs, to set up the processing lines. Xstrata has 2 open lines at the Timmins Kidd mine that just need to be re tuned for the Gowest orr. Xstrata recently spent $120 million to upgrade these lines. They are exhausting the current mine and cant use the 4 current lines. They want Gowest and likewise for the city of Timmins, that wants to keep the 1600 citizens employed.
Gowests resource is 1.5 million oz at over 4 gpt with a 3gpt cutoff. The Bradshaw strike of 1350m and still open is one of the largest strike lengths ever in the history of the Timmins mining camp plus its open on strike and at depth. Thats very high grade and Glencore is probably interested in the upside here. More on this later.
Gowests Experienced on board Mine Development Team , stacked with 20 yr vetrans is more than most developers would dream of and a factor in providing confidence for Xtrata Glencore.
Darrin Konnigen former VP-Operations and VP-Engineering for Castle Gold Corp along with Garth Wilcox designed, built and commissioned two operating gold mines. These mines paved the sale of Castle Gold to Argonaut Gold for $140 million, or $1.29/shr at the end of 2009 after trading at $0.20 at the beginning of 2009. Still a highly profitable mine.
Director: Larry Phillips one of the original founders of IAMGOLD.
John Frostiak, PEng, Director Corporate Project Manager for Barrick Gold Corporation brings the refractory experience Gowest needs. At the Cambell mine in Canada, he managed the process selection, engineering, design, and construction of the autoclave and other modernization projects.
Checkmate28
