What excites me is that the Great Western resources was announced 7 years ago in 2008 when the US gold price was less than US$1,000. The resources was also done by CSA Global Pty Ltd who I think are generally conservative and also reliable.
You can see a summary of the mine plan done on the resource further below but the cash surplus was ~$15.6M (open $1.5M and underground $14.1M combined).
Now I’m no rocket scientist but 7 years later, with a gold price far higher, and a toll treatment option as opposed to development, I would expect would generate significant returns for shareholders. Further, if drilling outside the current resource (in progress now) increases the resource as well as an upgraded resource in 2015 (higher gold price means higher resource), well then I would expect even more for shareholders!
TMX has a market cap of $2M and cash of almost $1M and in my eyes I would think those at RMS, BLK, SAR or SBM may be interested in purchasing some cheap ore. I would be very interested to hear from such shareholders as I think there can be a win for all.
Obviously all in my opinion but I would love to hear input from those on RMS, BLK, SAR or SBM threads.
TMX Price at posting:
0.6¢ Sentiment: Buy Disclosure: Held
