REG - Great Western Mining - Placing and Appointment of Joint Broker

Great Western MiningAnnouncement

17/01/2023 07:00

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RNS Number : 9565M  Great Western Mining Corp. plc  17 January 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 and Appointment of Joint Broker

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 an
oversubscribed placing to raise gross proceeds (before expenses) of £800,000
through the issue of 1,000,000,000 new Ordinary Shares of €0.0001 each (the
"Placing Shares") at a price of 0.08 pence each (the "Placing"). SP Angel
Corporate Finance LLP acted as Broker in respect of the Placing. The net
proceeds will primarily be used to accelerate construction of a mill for
production of gold and silver concentrates, as well as the next phase of
exploration and appraisal of gold and silver prospects. The Placing is
conditional on Admission.

APPOINTMENT OF JOINT BROKER

The Company is pleased to announce the appointment of SP Angel Corporate
Finance LLP as its joint broker with immediate effect.

DIRECTOR PARTICIPATION

Brian Hall, Robert O'Connell and Max Williams, directors of the Company, will
participate in the above share issue as follows:

 Director          Ordinary Shares to be issued  Resultant holding of Ordinary Shares  Resultant percentage holding (of enlarged issued share capital)
 Brian Hall        62,500,000                    172,500,000                           3.77%
 Max Williams      12,500,000                    62,500,000                            1.37%
 Robert O'Connell  12,500,000                    34,170,490                            0.75%

 

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 20
January 2023 (or such later date as may be agreed between the Company and the
Broker, but no later than 8.00 a.m. on 23 January 2023).

 Great Western Chairman Brian Hall commented:  "The net proceeds from the
Placing will allow the Company to commit to constructing the mill which will
process gold and silver concentrates in anticipation of first revenues. These
funds will also accelerate the next phase of exploration, including the
drilling of pre-permitted shallow follow-up holes at Mineral Jackpot and for
further work at the OMCO Mine to appraise significant intercepts encountered
in 2022. We look forward to building on the successes of our last two drilling
seasons and would like to welcome SP Angel as we look ahead to the rest of
2023."

For further information:

 Great Western Mining Corporation PLC
 Brian Hall,                                                                                                              +44 207 933 8780
 Chairman
 Max Williams, Finance                                                                                                    +44 207 933 8780
 Director

 Davy (NOMAD, Euronext Growth Listing Sponsor & Joint Broker)

 Brian Garrahy                                                                                                            +353 1 679 6363

 Novum Securities (Joint Broker)

 Jon Belliss                                                                                                              +44 207 399 9400

 SP Angel Corporate Finance LLP (Joint Broker)

 Ewan Leggat/Harry Davies-Ball                                                                                                            +44 203 470 0470

 Walbrook PR (PR advisers)

 Nick Rome/Joe                                                                                                            +44 207 933 8783
 Walker

 

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.

Furthermore, through extensive drilling over a five-year period, GWM has
established a Mineral Resource on its first target area known as M2, of 4.3
million tonnes at 0.45% copper, for 19,000 tonnes of contained copper metal.
This resource has been independently reported in accordance with JORC
guidelines.

 

 

 

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 Amendment              INITIAL NOTIFICATION

 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 of the financial  instrument,   ORDINARY SHARES OF €0.0001 EACH

     type  of

     instrument

     Identification code                         ISIN: IE00B1FR8863

 b)  Nature of the transaction

                                                 SUBSCRIPTION FOR SHARES

 c)  Price(s) and volume(s)

Price(s)    Volume(s)
                                                 0.08 PENCE  62,500,000

 

 d)  Aggregated information

     - Aggregated volume

     - Price                                     NOT APPLICABLE

 e)  Date of the transaction                     20 JANUARY 2023

 f)  Place of the transaction                    OUTSIDE A TRADING VENUE

 g)  Additional Information                      N/A

 

 

d)

Aggregated information

- Aggregated volume

- Price

 

 

NOT APPLICABLE

 

 

e)

Date of the transaction

20 JANUARY 2023

 

 

f)

Place of the transaction

OUTSIDE A TRADING VENUE

 

 

 

 

 

g)

Additional Information

N/A

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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                                        ROBERT O'CONNELL

     Reason for the notification

 a)  Position/status                             DIRECTOR

 b)  Initial Notification Amendment              INITIAL NOTIFICATION

 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 of the financial  instrument,   ORDINARY SHARES OF €0.0001 EACH

     type  of

     instrument

     Identification code                         ISIN: IE00B1FR8863

 b)  Nature of the transaction

                                                 SUBSCRIPTION FOR SHARES

 c)  Price(s) and volume(s)

Price(s)    Volume(s)
                                                 0.08 PENCE  12,500,000

 

 d)  Aggregated information

     - Aggregated volume

     - Price                                     NOT APPLICABLE

 e)  Date of the transaction                     20 JANUARY 2023

 f)  Place of the transaction                    OUTSIDE A TRADING VENUE

 g)  Additional Information                      N/A

 

 

d)

Aggregated information

- Aggregated volume

- Price

 

 

NOT APPLICABLE

 

 

e)

Date of the transaction

20 JANUARY 2023

 

 

f)

Place of the transaction

OUTSIDE A TRADING VENUE

 

 

 

 

 

g)

Additional Information

N/A

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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 Amendment              INITIAL NOTIFICATION

 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 of the financial  instrument,   ORDINARY SHARES OF €0.0001 EACH

     type  of

     instrument

     Identification code                         ISIN: IE00B1FR8863

 b)  Nature of the transaction

                                                 SUBSCRIPTION FOR SHARES

 c)  Price(s) and volume(s)

Price(s)    Volume(s)
                                                 0.08 PENCE  12,500,000

 

 d)  Aggregated information

     - Aggregated volume

     - Price                                     NOT APPLICABLE

 e)  Date of the transaction                     20 JANUARY 2023

 f)  Place of the transaction                    OUTSIDE A TRADING VENUE

 g)  Additional Information                      N/A

 

 

d)

Aggregated information

- Aggregated volume

- Price

 

 

NOT APPLICABLE

 

 

e)

Date of the transaction

20 JANUARY 2023

 

 

f)

Place of the transaction

OUTSIDE A TRADING VENUE

 

 

 

 

 

g)

Additional Information

N/A

 

 

 

 

 

 

 

 

 

 

 

 

 

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