RE:RE:RE:LMAO at how bad the sentiment here is Valuations and metrics mean very little with a track record like this. You could have defined a 10m oz resourse but if the market knows you have no means of extracting it you're pretty well a sitting duck until bankrupsy.
Its nice that they paid off creditors with the most illiquid equity on the market, but when theres little hope of recovering anything, you'll take anything.
Putting a nice spin on it is one thing, but the reality is that they sold half the company to baisically keep the resource on care and maintenance for the last few years.
So yes, nice for future investors to jump in at this point (though theres zero interest even at 17 cents, which is a premium compared to the 25 cents they just retired that debt at). We did a reverse split because you cant raise money below a certain threshhold and we're now painfully re-approaching those levels.
Its nice that they cleaned the balance sheet up, but their still pennyless with no source of income. So wheres this magical capital going to come from? An equity raise? After diluting 50%?
If you give me a dollar I'll give you a dime and tell you its a good trade right?
At best we'll have little to no debt, 10m in the bank, and be back to 300m shares outstanding.
Welcome back to 2017, only this time you have 1/10th of the shares and they're worth less than they we're. Oh... And you missed the goldrush again. So... This is awkward, but the metrics dont reflect reality here.
Yes im glad the 'do-nothing, self-serving' management team is gone, I just hope it isnt too little too late.
checkmate28 wrote: TM Yes!! I had been very negative until now. looking at current situation and looking forward, I am putting a positive spin on this. They took $18Million in debt off the books and cleared the path to progress after they replaced Management. You should be positive here ?
Obviously you think the deal was negative?
Lets hear your thoughts on how this deal was negative?
Lets hear your thoughts on a better way for GWA to move forward?
Heres how I see it. It comes down to current and future valuations.
Currently I see 154M OS at .175 or $27Million valuation post conversion. The insiders converted at nearly a $40Million valuation post conversion. There underwater now.
Gowest assets for valuation:
$1.2 million oz high grade 6gpt+ gold resource in Timmins ON
500k Oz gold Reserve
many other partially drilled targets on 16 contigous KM of rock.
Positive feasibility study showing sub $900 AISC Thats $900 positive dollars per OZ mined!
$10Million dollars of underground development
Fully permitted mine for production.
completed tailing pond
Ore sorter on site
Mine in late development with Bulk sample started
6 months to revenue once production is financed.
Toweringmars You tell me. ? Are You just bashing because the price in not up? or do you really feel the valuation they set is high? If you made that statement you should be able to back it up with valuations metrics.