GWMGF Great Western Minerals Group Ltd featured news, full reports, and detailed charts
Great Western Minerals Group Ltd (GWMGF/GWMGF.PK) Wrap Up:
Great Western Minerals Group, Ltd. operates in the rare earth elements (REE) sector in North America. The company is developing rare earth properties to mine REE as a source of supply for its downstream business of manufacturing specialized alloys and REE products for a range of industries. It holds interests primarily in four exploration projects focused on REE, which include the Hoidas Lake project in northern Saskatchewan; the Deep Sands project in Utah; the Misty project in Manitoba; and the Douglas River property in Saskatchewan. Great Western Minerals Group also owns a 100% interest in Less Common Metals, Ltd. that manufactures and supplies rare-earth-based alloys and other specialized...www.greatwesterngold.com
50 Employees
Founded in 1983
Great Western Minerals Group Ltd (GWMGF:OTC)
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Market Cap
49.7M
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Total Revenue
12.6M
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EBITDA
3.8M
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DILUTED EPS TTM
-0.03
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P/E
--
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P/S
3.3x
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Return On Asset
-8.76
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Return On Equity
-28.45
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| K = Thousands M = Millions B = Billions | ||
GWMGF Top Compensated Officers
Mr. James B. Engdahl
Chief Executive Officer, President, Director ...
Total Annual Compensation: C$154.4K
Mr. Gary Billingsley C.A., P.Eng., P.Geo.
Executive Chairman and Member of Safety, Heal...
Age: 58
Total Annual Compensation: C$156.7K
Ms. Audrey McMillan CA
Chief Financial Officer and Secretary
Total Annual Compensation: C$137.0K
Mr. John G. Pearson
Vice President of Exploration
Age: 59
Total Annual Compensation: --
Executives, Board Directors
Compensation as of Fiscal Year 2008.
Key developments for Great Western Minerals Group Ltd (GWMGF)
Great Western Minerals Group Ltd. Appoints Honourable Bill McKnight as Director
11/2/2009
Great Western Minerals Group Ltd. announced that the Honourable Bill McKnight has joined the board of directors of the Company. Mr. McKnight served Canada as a Member of Parliament for fourteen years, nine of those as a senior Member of Cabinet.
Great Western Minerals Group Ltd. Continues Work at Benjamin River
10/29/2009
Great Western Minerals Group Ltd. announced that the next phase of exploration work is now in progress at its Benjamin River rare earth project in New Brunswick, Canada. Fugro Airborne Surveys Corp. completed a 1,712 line-km helicopter-borne magnetic and radiometric survey over the project area. The goal of the survey is to further delineate and extend the zone of known rare earth mineralization and identify new areas of potential rare earth mineralization. The data is now being compiled and interpreted. A stream-sediment sampling program over the property has also been initiated. Based on the ground work completed to date, initial drill hole locations have been selected, and Major Drilling has been awarded the contract to complete a minimum of 2,000m of core drilling before year end. The scope of the drill program may be significantly expanded once the results of the airborne geophysics and stream-sediment geochemistry have been analyzed. The budget for the current program is estimated at approximately $750,000. Funding of these programs is also being provided by the New Brunswick Junior Mining Assistance Program.
Black Range Minerals Ltd. Enters Agreement with Great Western Minerals Ltd
10/15/2009
Black Range Minerals Ltd. has entered an agreement with Great Western Minerals Group Ltd. whereby Great Western has the right to earn an interest in the Koonenberry Base Metal Project in New South Wales by managing and funding further exploration at the project. The agreement concerns Black Range's exploration licences EL6400 and EL6464 in NSW, covering 600 sq km. Great Western has the right to earn a 51% interest in the tenements by expenditure of $1 million over a two-year period. Thereafter, subject to the right of Black Range to elect to maintain a continuing 49% participating interest, Great Western may elect to increase its interest to 75% by spending $1 million over another two-year period.
GWMGF Competitors
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Industry Analysis
| Valuation | GWMGF | Industry Range |
| Price/Earnings | NM | Not Meaningful |
| Price/Sales | 3.3x |
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| Price/Book | 2.2x |
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| Price/Cash Flow | NM | Not Meaningful |
| TEV/Sales | 4.0x |
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GWMGF |
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GWMGF transactions
| Type Date |
Target |
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Private Placement
October 15, 2009 |
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Private Placement
August 25, 2009 |
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More Recent News About Great Western Minerals Group Ltd
More news for GWMGF
Great Western Minerals Group Grants Options
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Great Western Minerals Group Announces the Appointment of the Honourable Bill McKnight as Director
SASKATOON, SASKATCHEWAN--(Marketwire - 11/02/09) - Great Western Minerals Group Ltd. (TSX-V:GWG - News) (PINK SHEETS:GWMGF - News) ("GWMG" or the "Company") is pleased to announce that the Honourable Bill McKnight has joined the board of directors of the Company, subject to approval by the TSX Venture Exchange. Mr. McKnight served Canada as a Member of Parliament for fourteen years, nine of those as a senior Member of Cabinet. During those nine years, Mr. McKnight held seven portfolios, including Labour, Canada Mortgage and Housing, Indian Affairs and Northern Development, National Defence, Agriculture and Energy, Mines and Resources.As a successful private businessman and a Senior Minister and Member of the Inner Cabinet, Mr. McKnight developed a unique strategic planning ability that is important in today's global business environment. Mr McKnight continues to consult for companies doing business in Asia where his network and connections are extensive.Mr. McKnight holds board positions with several public and private organizations. He is currently Chairman of McKnight & Associates; Chairman and Director, Cline Mining Corporation; Director, Diadem Resources Ltd.; Director, Golden Opportunities Fu...Click here to read the whole Article (external link)
Great Western Minerals Group Continues Work at Benjamin River
SASKATOON, SASKATCHEWAN--(Marketwire - 10/29/09) - Great Western Minerals Group Ltd. (TSX-V:GWG - News)(PINK SHEETS:GWMGF - News) ("GWMG" or the "Company") is pleased to announce that the next phase of exploration work is now in progress at its Benjamin River rare earth project in New Brunswick, Canada. Fugro Airborne Surveys Corp. completed a 1712 line-km helicopter-borne magnetic and radiometric survey over the project area. The goal of the survey is to further delineate and extend the zone of known rare earth mineralization and identify new areas of potential rare earth mineralization. The data is now being compiled and interpreted. A stream-sediment sampling program over the property has also been initiated.As announced in a news release of June 1, 2009, the Company completed ground geophysics over the known exposures of a rare earth-bearing apatite-diopside-magnetite vein system. This survey outlined a geophysical anomaly approximately 1,200m long with widths up to 200m. Previous trenches within the anomaly have been cleaned out with a backhoe and geological mapping and sampling of the trenches is underway.Based on the ground work completed to date, initial drill hole locations have been sele...Click here to read the whole Article (external link)
Great Western Minerals Group Engages Barr Engineering to Update Hoidas Lake Technical Report
SASKATOON, SASKATCHEWAN--(Marketwire - 10/22/09) - Great Western Minerals Group Ltd. ("GWMG" or the "Company") (TSX-V:GWG - News) (PINK SHEETS:GWMGF - News) is pleased to announce it has engaged Barr Engineering Company ("Barr") of Minneapolis Minnesota to update the 43-101 Technical Report for the Company's Hoidas Lake Project. Barr is an employee-owned engineering and environmental consulting company involved with the development, management, and restoration of natural resources. With more than 40 years of experience Barr has been involved in solving a wide range of challenges faced by the mining and mineral processing industry, primarily in North and South America.Under the scope of this contract, Barr will update the resource estimate for the Company's Hoidas Lake project, incorporating the results of the Company's drilling program which was completed in the spring of 2008 on the JAK Zone.A total of 6,836 m was drilled in 32 holes to depths of 300 metres. The JAK Zone Vein System has been extended by 250 m to 1,000 metres and remains open along strike and at depth. The drilling also extended the zone to a depth of 300 m; previously, this zone had been tested only to a depth of 150 m. Prelimina...Click here to read the whole Article (external link)
Great Western Minerals Group Verifies Heavy Rare Earth Grades at Douglas River
SASKATOON, SASKATCHEWAN--(Marketwire - 10/09/09) - Great Western Minerals Group Ltd. ("GWMG" or the "Company") (TSX-V:GWG - News) (PINK SHEETS:GWMGF - News) is pleased to announce the results of a recent trench sampling program at its 100%-owned Douglas River project in northern Saskatchewan. The work program focused on locating the original trenches on the property excavated by Saskatchewan Mining Development Corporation ("SMDC") in 1984, following up on mineralization discovered by Marline Oil Corporation ("Marline") between 1977 and 1982. Marline results obtained from semi-quantitative analysis yielded values of up to 10% total rare earth oxide ("TREO") with dysprosium oxide ("Dy2O3") values over 3%. SMDC followed up Marline's efforts with trenching and sampling that yielded assays as high as 7.82% TREO with a Dy2O3 value of 0.89%.In August 2009, a Company exploration crew located the main SMDC trench and took a combination of chip and panel samples with the initial goal of confirming the historic assay values. The trench is approximately 17m long and 5m wide in medium-grained hematitic sandstone. Areas for chip and panel sampling were selected based on scintillometer readings for total radioactivity ...Click here to read the whole Article (external link)
Great Western Minerals Group Makes Second Option Payment on Steenkampskraal Project
SASKATOON, SASKATCHEWAN--(Marketwire - 09/25/09) - Great Western Minerals Group Ltd. (TSX-V:GWG - News) (PINK SHEETS:GWMGF - News) ("GWMG" or the "Company") is pleased to announce that, under the terms of the option agreement between the Company and Rare Earth Extraction Co. Ltd. ("Rareco") to refurbish, recommission and operate the former-producing Steenkampskraal Mine, the Company has now paid the second option payment of R500,000 (US$62,500) to Rareco. GWMG and Rareco will now enter a period of further due diligence and the negotiation of a supply agreement under which 100% of the rare earth ore mined and processed will be made available to GWMG. In addition to acquiring access to 100% of the rare earths produced, GWMG could also negotiate an equity interest in the project.The second option payment was made subsequent to GWMG receiving evidence that the South African Department of Mineral and Energy Affairs ("DME") had accepted the application by Rareco to convert the old order mining right to a new mining licence. While the DME has accepted Rareco's application, it still has to officially grant the new mining license.As part of the agreement, Rareco has now provided GWMG with updated capital a...Click here to read the whole Article (external link)
Great Western Technologies Inc Receives DARPA Contract to Develop Aluminum-Based Structural Metal Alloys
SASKATOON, SASKATCHEWAN AND TROY, MICHIGAN--(Marketwire - 09/18/09) - Great Western Minerals Group Ltd. (TSX-V:GWG - News) (PINK SHEETS:GWMGF - News) is pleased to announce that its US-based, wholly-owned subsidiary, Great Western Technologies Inc, ("GWTI") of Troy Michigan, has been awarded a US $110,000 Defense Advanced Research Projects Agency (DARPA) contract to develop a set of aluminum-based high strength alloys. These alloys are a new class of materials that exploit the complex metal compounds that can be formed between rare earth elements and common metals such as aluminum and nickel. In the right circumstances and under good metallurgical control these alloys will produce miniscule precipitates that impart exceptional properties on aluminum alloys. These materials could eventually be used in applications that require low density and high strength such as fan blades or low pressure compressor blades in jet engines or for low-weight but high-strength automotive components. These applications are significant in improving power-to-weight ratios and therefore improving fuel efficiencies.DARPA is the central research and development organization for the US Department of Defense. DARPA's mission is to ...Click here to read the whole Article (external link)
Great Western Minerals Group and Toyota Tsusho Corporation Sign Letter of Intent to Cooperate on Exploration Projects
SASKATOON, SASKATCHEWAN AND NAGOYA, JAPAN--(Marketwire - 07/21/09) - Great Western Minerals Group Ltd. (TSX-V:GWG - News) (PINK SHEETS:GWMGF - News) and Toyota Tsusho Corporation (Tokyo Stock Exchange - "8015T"; Nagoya Stock Exchange - "8015NG") are pleased to announce that both Companies have signed a non-binding letter of intent (the "Letter of Intent) to examine the merits of jointly conducting exploration and development activities on certain of Great Western Minerals' existing projects (the "Proposed Transactions"). Under the terms of the Letter of Intent, Toyota Tsusho Corporation ("TTC") and Great Western Minerals Group ("GWMG") will discuss possibilities for the Douglas River and Benjamin River exploration projects. TTC will have an exclusivity provision in these discussions for a six month period.These two projects are of particular interest to TTC since the mineralization of these two properties appears to be significantly enriched in the "heavy" rare earth elements ("HREE"). The HREE are high value products that are critical to the manufacture of high-temperature magnets used in electric motors for a wide range of applications including hybrid vehicles and for phosphors used in LCD and plasma ...Click here to read the whole Article (external link)
Great Western Minerals Group and Molycorp Minerals, LLC Terminate Discussions of Proposed Transaction
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