RE:GOWEST GOLD ANNOUNCES DEBT CONVERSIONWhile this should have been done long ago, the news is good.
With the new shares, This leaves about 154M shares outstanding.
The .25 conversion price x the 154M OS leaves a valuation of $38.5M for Gowest
Thats over double the current market cap. Share price should be going up today.
The cleaned up balance sheet was necessary to get the financing for the mine plan and crews underground. Near sure they have this financing worked out and was contingent on cleaning up the balance sheet.
I think theres a good chance the mill gets rolled into Gowest in the near future. This could be debt or equity. The mill in its current state, with tuning has the capacity to process between 150 and 180 thousand ounces of gold.
This deal wouldn't have happened if they weren't planning on pushing forward.
We may have a lot more good news soon.