TIDMGWMO
RNS Number : 1770H
Great Western Mining Corp. plc
26 July 2023
This announcement contains inside information for the purposes
of article 7 of the Market Abuse Regulation (EU) 596/2014.
GREAT WESTERN MINING CORPORATION PLC
("Great Western", "GWM" or the "Company")
Placing of New Ordinary Shares
Great Western Mining Corporation PLC (AIM - GWMO, Euronext
Growth - 8GW), which is exploring and developing gold, silver and
copper targets in Mineral County, Nevada, is pleased to announce
the successful completion of a placing to raise gross proceeds
(before expenses) of GBP500,000 through the issue of 909,090,914
new Ordinary Shares of EUR0.0001 each (the "Placing Shares") at a
price of 0.055 pence each (the "Placing"). SP Angel Corporate
Finance LLP acted as Broker in respect of the Placing. The net
proceeds will be used for completion, commissioning and start-up
working capital at the Company's Western Milling LLC, joint venture
in Nevada, which is constructing a mill for production of gold and
silver concentrates. Funds will also be used to continue the
Company's active ongoing exploration programme for gold and silver
and at the M2 copper prospect. The Placing is conditional on
Admission.
DIRECTOR PARTICIPATION
Brian Hall, Max Williams, Gemma Cryan, Alastair Ford and Andrew
Hay, directors of the Company, will participate in the above share
issue as follows:
Director Ordinary Shares Resultant holding Resultant percentage
to be issued of Ordinary Shares holding (of enlarged
issued share
capital)
Brian Hall 47,272,729 219,772,729 4.01%
Max Williams 12,727,273 75,227,273 1.37%
Gemma Cryan 9,090,909 9,090,909 0.17%
Alastair Ford 3,636,363 3,636,363 0.07%
Andrew Hay 18,181,818 31,881,818 0.58%
SETTLEMENT AND ADMISSION
Application will be made to the London Stock Exchange and
Euronext Dublin for admission of the Placing Shares to trading on
the AIM and Euronext Growth markets respectively ("Admission"). The
Placing Shares will rank pari passu with the Company's existing
issued Ordinary Shares, to be admitted to trading. It is expected
that admission will become effective and dealings in the Placing
Shares will commence on AIM and Euronext Growth at 8.00 a.m. on 2
August 2023 (or such later date as may be agreed between the
Company and the Broker, but no later than 8.00 a.m. on 16 August
2023).
Great Western Chairman Brian Hall commented : "At an exciting
time in the Company's development, our priority is to complete,
commission and test the process mill, leading to production and
sale of gold and silver concentrates as soon as possible. We have
an active exploration programme and are currently drilling at
Mineral Jackpot close to a highly promising shallow silver
intercept achieved in 2022. This Placing will enable us to achieve
our objectives. We also expect to continue work on the M2 prospect
where we have already established a JORC-compliant resource of
copper, partly indicated and partly inferred. We will keep
shareholders informed on progress."
For further information:
Great Western Mining Corporation PLC
Brian Hall, Chairman +44 207 933 8780
-------------------
Max Williams, Finance Director +44 207 933 8780
-------------------
Davy (NOMAD, Euronext Growth Listing
Sponsor & Joint Broker)
Brian Garrahy +353 1 679 6363
-------------------
SP Angel Corporate Finance LLP (Joint
Broker)
Ewan Leggat/Harry Davies-Ball +44 203 470 0470
-------------------
Walbrook PR (PR advisers)
Nick Rome/Nicholas Johnson +44 207 933 8783
-------------------
Notes to Editors
The Company has a large tract of acreage in Mineral County,
Nevada. The area consists partly of rugged, mountainous terrain,
which means that large parts of it remain under-explored. Mineral
potential is hosted by the regional Walker Lane Structural Belt,
the largest structural and metallogenic belt in Nevada, yet one of
the least explored in recent times, with gold, silver and copper
currently produced in Mineral County. Great Western has seven
distinct concession areas which offer the potential for exploiting
(1) short term gold and silver deposits and (2) long-term,
world-class copper deposits.
Six of the Company's properties are in the west of Mineral
County and are 100% owned and operated. The Company has an option
to acquire a seventh property, the Olympic Gold Project, in the
east of the county. Great Western's small exploration team is
supported by locally based consultants and contractors.
The state of Nevada is generally considered to be one of the
world's most mining friendly jurisdictions. While tightly regulated
and environmentally conscious, Nevada welcomes the mining industry.
Great Western takes care to ensure that its claims are maintained
in good standing and all regulations observed.
There are numerous gold and silver prospects on the Company's
acreage, including extensive historic mine workings which offer the
opportunity for secondary recovery. The Company is party to a 50-50
joint venture known as Western Milling LLC which is constructing a
mill to process pre-mined material for secondary recovery of gold
and silver.
GWM has established an Inferred Resource Estimate of 31,000
tonnes grading 1.6 g/t gold and 3.0 g/t silver in tailings at the
OMOC Mine at the Olympic Gold Project. It has also established
Exploration targets. In addition, the Company has reported an
Exploration Target as follows:
-- 3,400 - 6,400 tonnes grading between 0.5 and 1.2 g/t Au and
1.2 and 2.1 g/t Ag in the substrate beneath the tailings volume at
the Olympic Mine.
-- 9,000 - 12,000 tonnes grading between 0.9 and 2.4 g/t Au and
2.0 and 5.1 g/t Ag in a coarse stockpile at Olympic Mine.
-- 4,200 - 7,700 tonnes grading between 40 and 140 g/t Ag and
0.3 and 0.3 g/t Au in spoil heaps at Mineral Jackpot.
Notification of Transactions by Persons Discharging Managerial
Responsibilities and Persons Closely Associated with them
[This form is required for disclosure of transactions under
Article 19 of Regulation (EU) No 596/2014 of the European
Parliament and of the Council of 16 April 2014 on market abuse
(Market Abuse Regulation)]
1 Details of the person discharging managerial responsibilities/person
closely associated
=== =======================================================================
a) Name BRIAN HALL
========================= ============================================
Reason for the notification
=======================================================================
a) Position/status DIRECTOR
========================= ============================================
b) Initial Notification INITIAL NOTIFICATION
Amendment
========================= ============================================
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
=======================================================================
a) Name GREAT WESTERN MINING CORPORATION PLC
========================= ============================================
b) LEI 635400NZ1RTHSGDVNQ43
========================= ============================================
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
=======================================================================
a) Description ORDINARY SHARES OF EUR0.0001 EACH
of the financial
instrument,
type of ISIN: IE00B1FR8863
instrument
Identification
code
========================= ============================================
b) Nature of
the transaction SUBSCRIPTION FOR SHARES
========================= ============================================
c) Price(s) and Price(s) Volume(s)
volume(s) 0.055 PENCE 47,272,729
===========
========================= ============================================
d) Aggregated NOT APPLICABLE
information
- Aggregated
volume
- Price
========================= ============================================
e) Date of the 25 JULY 2023
transaction
========================= ============================================
f) Place of the OUTSIDE A TRADING VENUE
transaction
========================= ============================================
g) Additional N/A
Information
========================= ============================================
Notification of Transactions by Persons Discharging Managerial
Responsibilities and Persons Closely Associated with them
[This form is required for disclosure of transactions under
Article 19 of Regulation (EU) No 596/2014 of the European
Parliament and of the Council of 16 April 2014 on market abuse
(Market Abuse Regulation)]
1 Details of the person discharging managerial responsibilities/person
closely associated
=== =======================================================================
a) Name MAX WILLIAMS
========================= ============================================
Reason for the notification
=======================================================================
a) Position/status DIRECTOR
========================= ============================================
b) Initial Notification INITIAL NOTIFICATION
Amendment
========================= ============================================
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
=======================================================================
a) Name GREAT WESTERN MINING CORPORATION PLC
========================= ============================================
b) LEI 635400NZ1RTHSGDVNQ43
========================= ============================================
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
=======================================================================
a) Description ORDINARY SHARES OF EUR0.0001 EACH
of the financial
instrument,
type of ISIN: IE00B1FR8863
instrument
Identification
code
========================= ============================================
b) Nature of
the transaction SUBSCRIPTION FOR SHARES
========================= ============================================
c) Price(s) and Price(s) Volume(s)
volume(s) 0.055 PENCE 12,727,273
===========
========================= ============================================
d) Aggregated NOT APPLICABLE
information
- Aggregated
volume
- Price
========================= ============================================
e) Date of the 25 JULY 2023
transaction
========================= ============================================
f) Place of the OUTSIDE A TRADING VENUE
transaction
========================= ============================================
g) Additional N/A
Information
========================= ============================================
Notification of Transactions by Persons Discharging Managerial
Responsibilities and Persons Closely Associated with them
[This form is required for disclosure of transactions under
Article 19 of Regulation (EU) No 596/2014 of the European
Parliament and of the Council of 16 April 2014 on market abuse
(Market Abuse Regulation)]
1 Details of the person discharging managerial responsibilities/person
closely associated
=== =======================================================================
a) Name GEMMA CRYAN
========================= ============================================
Reason for the notification
=======================================================================
a) Position/status DIRECTOR
========================= ============================================
b) Initial Notification INITIAL NOTIFICATION
Amendment
========================= ============================================
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
=======================================================================
a) Name GREAT WESTERN MINING CORPORATION PLC
========================= ============================================
b) LEI 635400NZ1RTHSGDVNQ43
========================= ============================================
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
=======================================================================
a) Description ORDINARY SHARES OF EUR0.0001 EACH
of the financial
instrument,
type of ISIN: IE00B1FR8863
instrument
Identification
code
========================= ============================================
b) Nature of
the transaction SUBSCRIPTION FOR SHARES
========================= ============================================
c) Price(s) and Price(s) Volume(s)
volume(s) 0.055 PENCE 9,090,909
==========
========================= ============================================
d) Aggregated NOT APPLICABLE
information
- Aggregated
volume
- Price
========================= ============================================
e) Date of the 25 JULY 2023
transaction
========================= ============================================
f) Place of the OUTSIDE A TRADING VENUE
transaction
========================= ============================================
g) Additional N/A
Information
========================= ============================================
Notification of Transactions by Persons Discharging Managerial
Responsibilities and Persons Closely Associated with them
[This form is required for disclosure of transactions under
Article 19 of Regulation (EU) No 596/2014 of the European
Parliament and of the Council of 16 April 2014 on market abuse
(Market Abuse Regulation)]
1 Details of the person discharging managerial responsibilities/person
closely associated
=== =======================================================================
a) Name ALASTAIR FORD
========================= ============================================
Reason for the notification
=======================================================================
a) Position/status DIRECTOR
========================= ============================================
b) Initial Notification INITIAL NOTIFICATION
Amendment
========================= ============================================
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
=======================================================================
a) Name GREAT WESTERN MINING CORPORATION PLC
========================= ============================================
b) LEI 635400NZ1RTHSGDVNQ43
========================= ============================================
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
=======================================================================
a) Description ORDINARY SHARES OF EUR0.0001 EACH
of the financial
instrument,
type of ISIN: IE00B1FR8863
instrument
Identification
code
========================= ============================================
b) Nature of
the transaction SUBSCRIPTION FOR SHARES
========================= ============================================
c) Price(s) and Price(s) Volume(s)
volume(s) 0.055 PENCE 3,636,363
==========
========================= ============================================
d) Aggregated NOT APPLICABLE
information
- Aggregated
volume
- Price
========================= ============================================
e) Date of the 25 JULY 2023
transaction
========================= ============================================
f) Place of the OUTSIDE A TRADING VENUE
transaction
========================= ============================================
g) Additional N/A
Information
========================= ============================================
Notification of Transactions by Persons Discharging Managerial
Responsibilities and Persons Closely Associated with them
[This form is required for disclosure of transactions under
Article 19 of Regulation (EU) No 596/2014 of the European
Parliament and of the Council of 16 April 2014 on market abuse
(Market Abuse Regulation)]
1 Details of the person discharging managerial responsibilities/person
closely associated
=== =======================================================================
a) Name ANDREW HAY
========================= ============================================
Reason for the notification
=======================================================================
a) Position/status DIRECTOR
========================= ============================================
b) Initial Notification INITIAL NOTIFICATION
Amendment
========================= ============================================
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
=======================================================================
a) Name GREAT WESTERN MINING CORPORATION PLC
========================= ============================================
b) LEI 635400NZ1RTHSGDVNQ43
========================= ============================================
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
=======================================================================
a) Description ORDINARY SHARES OF EUR0.0001 EACH
of the financial
instrument,
type of ISIN: IE00B1FR8863
instrument
Identification
code
========================= ============================================
b) Nature of
the transaction SUBSCRIPTION FOR SHARES
========================= ============================================
c) Price(s) and Price(s) Volume(s)
volume(s) 0.055 PENCE 18,181,818
===========
========================= ============================================
d) Aggregated NOT APPLICABLE
information
- Aggregated
volume
- Price
========================= ============================================
e) Date of the 25 JULY 2023
transaction
========================= ============================================
f) Place of the OUTSIDE A TRADING VENUE
transaction
========================= ============================================
g) Additional N/A
Information
========================= ============================================
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END
MSCRAMMTMTITTAJ
(END) Dow Jones Newswires
July 26, 2023 02:00 ET (06:00 GMT)
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