Great Western Mining Share Discussion Threads

[mayflower6] 27/11/2024 14:03

I do accept and agree Brian wouldn't have bought in August if he had not been confident.

It does suggest he was let down by others closer to the ground who either didn't know what they were doing or misinformed Brian.

[mayflower6] 27/11/2024 14:00

Fair comment flyhi. Yes credit where it's due I agree.

[flyhi1] 27/11/2024 13:59

There’s plenty of AIM companies CEO, Chairman don’t buy in with private shareholders.

So bear in mind Brian has so it’s as much in his interest in seeing the share price rise as it is ours.

Also his salary is not high compared to a lot of senior directors in other AIM companies.

[flyhi1] 27/11/2024 13:53

Remember Brian was buying on the open market in August at a much higher price.

So he clearly wasn’t expecting it to take this long to get production underway.

Was he misled by those in charge of the mill on the ground, valid question.

You could argue he should have been on top of it. Made sure he’d asked the right questions of the on site manager.

Remember Brian is down more than most any of us. So he’s felling the pain in his investment as much as we are.

[flyhi1] 27/11/2024 13:49

Quite possibly.

On the other hand if gold production being underway hits in days and it includes bullish information then the share price could rise rapidly.

[mayflower6] 27/11/2024 13:40

I see a lower share price in the coming weeks. I'll decide at such a time whether i invest further or not.

[mayflower6] 27/11/2024 13:39

I'm not expecting to see December production. I think they would have held off this placing if they possibly could if production and revenue was imminent.

[flyhi1] 27/11/2024 12:58

Failure to achieve December gold production will be a massive failure by the management. Whether whoever is responsible should fall on their sword is debatable. We don’t have all the facts to know whether that would be the right call.

[flyhi1] 27/11/2024 12:53

If gold production doesn’t happen in the near term now then we may well see a further fall in the share price

[flyhi1] 27/11/2024 12:51

Understandable Mayflower. As I say I’m not inclined to in fact very unlikely to.

[mayflower6] 27/11/2024 12:49

I'm definitely not taking up any of the retail offer.

My reasoning is we probably won't see December production and it will slip into January or later as flyhi has suggested.

[flyhi1] 27/11/2024 12:46

On the other side of the coin, if they announce gold production in the next week or so and give confidence of a high output the interest from buyers will change very quickly.

AIM and in particular explorers like GWNO interest from investors can change very quickly. One day no one is interested and then a good RNS and buyers are all over it and the share price rises rapidly.

Yesterday’s news was undoubtedly a low for us. That doesn’t mean tomorrow (whenever tomorrow is) a good RNS and the interest in GWMO will all change.

[flyhi1] 27/11/2024 12:40

With the retail offer closing today I’m not inclined to take any.

[mindthegapup] 27/11/2024 12:03

Sorry but the placing has been done and I am still not tempted to add anymore because the bod have not met any deadlines, and the prospect of further raises seems a certainty now.
My initial £30k investment is now worth about 7k

[mayflower6] 27/11/2024 12:01

Agreed I don't see December production happening flyhi.

[flyhi1] 27/11/2024 12:00

My fear is gold production may well slip into January and possibly later with winter weather arriving.

I was optimistic about early December but yesterday’s placing has undermined my confidence.

[flyhi1] 27/11/2024 11:58

I’m invested for the copper resources which if proven to be as big as expected then the company will be transformed but still to be proven of course.

If gold production does get underway in the coming weeks then that will have a positive impact on the share price

Fortunes of companies can change very quickly and all the trolls that dive in when there’s a heavily discounted placing have a habit of changing their tune on good news and a rising share price

[flyhi1] 27/11/2024 11:31

I can’t argue with any of that. At the end of the day the buck stops with Brian you are right Mayflower.

[mayflower6] 27/11/2024 11:29

I consider the management have failed dismally. The mill has been complete disaster in my mind and a basic gravity feed mill to process from spoil heaps is surely not a big deal. It's not as if they had to worry about mining the stuff all they had to do with was construct and commission a mill to produce gold from spoil heaps.

It might not be Brian's fault he may well have been let down by people closer to the task but he should have been on top of it and it appears he wasn't.

[mayflower6] 27/11/2024 11:22

I'll keep an eye on it but there is nothing I can see that tempts me into taking up any of the shares available for shareholders in the retail offer.

[flyhi1] 27/11/2024 11:20

You were Mayflower. Well done sir, a wise decision.

[mayflower6] 27/11/2024 11:17

You have summed it up flyhi. Regardless of the copper which may be a game changer they have failed to achieve the gold production in a required to time frame to avoid the need to resort to another placing for running the company.

I was right to keep my powder dry flyhi.

[flyhi1] 27/11/2024 11:12

We know the copper has the potential to be the company making that we are waiting for further development but failure to achieve the income from gold production to "run' the company has led to this latest placing.

[flyhi1] 27/11/2024 11:09

They may of course meet their early December timeline after leading us to believe they the mill was just awaiting the permit which turned out to be not the case.