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Bullboard - Stock Discussion Forum Great Western Minerals Group Ltd GWMGF

Great Western Minerals Group Ltd is a Canadian-based exploration and development company, which is engaged in the exploration and development of its rare earth elements (REE) property, and the manufacturing and marketing of products containing REE. The company operates as an integrated rare earth processor which manufactures specialty alloys used in the magnet, battery, defense and aerospace... see more

GREY:GWMGF - Post Discussion

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Post by Wallstr62 on Feb 24, 2021 3:33pm

gwmgf assets

Long time ago I believed in this story, mine to market.
Unfortunally it didn't play out. There are no assets left; see below. 
2 factories sold, Steenkampskraal SA gone, on Hoidas Lake however I am not sure. Star minerals had some 25% claim on it but I do not know what happened with the property in the SISP proces.

"As previously announced, the Company has entered into a support agreement dated April 29,
2015 with holders (the "Supporting Bondholders") of approximately 65.3% of its US$90 million
8.00 percent Secured Convertible Bonds due 2017 (the "Convertible Bonds") pursuant to which
the Company, with the support of the Supporting Bondholders, will pursue an orderly process for
the solicitation of interests in the Company's business, property and assets pursuant to a sale and
investor solicitation process (the "SISP") to be implemented pursuant to proceedings commenced
by the Company under the Companies' Creditors Arrangement Act (Canada) ("CCAA").
PricewaterhouseCoopers Inc. has been appointed Monitor in the CCAA proceedings and is
supervising the SISP. "

Great Western Minerals Group Ltd. | PwC Canada
Comment by ginosailling on Feb 24, 2021 7:23pm
looking at the stock now its been making higher highs and higher lows since first week of january I still got my shares to reminds me this total f()ckup i did , still got 300k shares in my accounts , and every days its worth more pennies
Comment by ClockKing11 on Feb 25, 2021 11:35am
This small awakening is a curiosity Gino. It's almost like there is some is some kind of an asset of value that has been detected.
Comment by rockrollkid on Feb 26, 2021 10:41am
yep, this is kind of weird alright...i still have have my stock also...which for the last week or so is up 10% above cost...
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