REG - Great Western Mining - Placing of New Ordinary Shares

Great Western MiningAnnouncement

26/07/2023 07:00

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RNS Number : 1770H  Great Western Mining Corp. plc  26 July 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

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 a placing
to raise gross proceeds (before expenses) of £500,000 through the issue of
909,090,914 new Ordinary Shares of €0.0001 each (the "Placing Shares") at a
price of 0.055 pence each (the "Placing").  SP Angel Corporate Finance LLP
acted as Broker in respect of the Placing. The net proceeds will be used for
completion, commissioning and start-up working capital at the Company's
Western Milling LLC, joint venture in Nevada, which is constructing a mill for
production of gold and silver concentrates.  Funds will also be used to
continue the Company's active ongoing exploration programme for gold and
silver and at the M2 copper prospect. The Placing is conditional on Admission.

DIRECTOR PARTICIPATION

Brian Hall, Max Williams, Gemma Cryan, Alastair Ford and Andrew Hay, 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     47,272,729                    219,772,729                           4.01%
 Max Williams   12,727,273                    75,227,273                            1.37%
 Gemma Cryan    9,090,909                     9,090,909                             0.17%
 Alastair Ford  3,636,363                     3,636,363                             0.07%
 Andrew Hay     18,181,818                    31,881,818                            0.58%

 

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 2
August 2023 (or such later date as may be agreed between the Company and the
Broker, but no later than 8.00 a.m. on 16 August 2023).

 

Great Western Chairman Brian Hall commented:  "At an exciting time in the
Company's development, our priority is to complete, commission and test the
process mill, leading to production and sale of gold and silver concentrates
as soon as possible.  We have an active exploration programme and are
currently drilling at Mineral Jackpot close to a highly promising shallow
silver intercept achieved in 2022.  This Placing will enable us to achieve
our objectives.  We also expect to continue work on the M2 prospect where we
have already established a JORC-compliant resource of copper, partly indicated
and partly inferred.  We will keep shareholders informed on progress."

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

 SP Angel Corporate Finance LLP (Joint Broker)

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

 Walbrook PR (PR advisers)

 Nick Rome/Nicholas                                                                                                       +44 207 933 8783
 Johnson

 

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.

 

 

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)
                                                 0.055 PENCE  47,272,729

 

 d)  Aggregated information

     - Aggregated volume

     - Price                                     NOT APPLICABLE

 e)  Date of the transaction                     25 JULY 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

25 JULY 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)
                                                 0.055 PENCE  12,727,273

 

 d)  Aggregated information

     - Aggregated volume

     - Price                                     NOT APPLICABLE

 e)  Date of the transaction                     25 JULY 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

25 JULY 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                                        GEMMA CRYAN

     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)
                                                 0.055 PENCE  9,090,909

 

 d)  Aggregated information

     - Aggregated volume

     - Price                                     NOT APPLICABLE

 e)  Date of the transaction                     25 JULY 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

25 JULY 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                                        ALASTAIR FORD

     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)
                                                 0.055 PENCE  3,636,363

 

 d)  Aggregated information

     - Aggregated volume

     - Price                                     NOT APPLICABLE

 e)  Date of the transaction                     25 JULY 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

25 JULY 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                                        ANDREW HAY

     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)
                                                 0.055 PENCE  18,181,818

 

 d)  Aggregated information

     - Aggregated volume

     - Price                                     NOT APPLICABLE

 e)  Date of the transaction                     25 JULY 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

25 JULY 2023

 

 

f)

Place of the transaction

OUTSIDE A TRADING VENUE

 

 

 

 

 

g)

Additional Information

N/A

 

 

 

 

 

 

 

 

 

 

 

 

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