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(OTC Bulletin Board: GWGO) announced that that is distributing its entire direct shareholding in the amount of 98,000,000 shares of Common Stock in Windsor Resources, Inc. to Great West Gold, Inc. shareholders of record as at October 31, 2005. This is now amended to shareholders of record as of Monday November 7, 2005.
Windsor Resources, Inc. has confirmed that it is to effect a ten for one Stock Split of its outstanding shares of Common Stock, which will result in the amount of 980,000,000 shares in Windsor Resources, Inc. shares of Common Stock being distributed to the Great West Gold, Inc. shareholders. This was a logical step given the huge number of outstanding shares of Common Stock in Great West Gold, Inc.
These shares of Windsor Resources, Inc. Common Stock will be posted to Great West Gold, Inc. shareholders of record in and during the two week period after November 7, 2005, that being the "Pay Day" for this Dividend.
Posts: 9110 | From: boston, ma | Registered: Jan 2004
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I assume you're just playing the rise? Looks restricted to me, and I've had my fill of those. Ironically though, if I had held onto my shares I'd be up 30% from .0010
NEW YORK, Oct. 6 /PRNewswire-FirstCall/ -- Great West Gold, Inc. (OTC Bulletin Board: GWGO) confirms the assessment by the Chairman of its Advisory Committee, Dr Wayne P Colliston, of the company's on the 1,300 acre Bouse gold (silver -- copper) property situated in the La Paz area of western Arizona, USA, near the California border. The "Bouse" Project is owned by Western Gold Limited which was a wholly owned subsidiary company of Great West Gold, Inc. Great West Gold, Inc. has now completed the sale of 49% of its owned subsidiary company, Western Gold Limited to Windsor Resources, Inc. The Company is disposing of its additional 51% interest in Western Gold Limited to a recently created subsidiary company of Great West Gold, Inc. that being Western Diversified Mining Resources, Inc. Western Diversified Mining Resources, Inc. will remain as a wholly owned subsidiary company of Great West Gold, Inc. at this time. Windsor Resources, Inc. will obtain a separate quotation on the OTC Market as soon as is possible. It is intended that this Company will raise additional cash to develop this Mining Property. All of the shares in this Company that are directly held by Great West Gold, Inc. will be distributed to the shareholders of Great West Gold, Inc.
Western Diversified Mining Resources, Inc. will hold 102,000,000 shares of restricted shares of Windsor Resources, Inc. ("Windsor") These Windsor shares will remain under the control of Great West Gold, Inc. at this time. Great West Gold, Inc. will hold a direct interest in Windsor in the amount of 98,000,000 shares of Windsor restricted Common Stock. These shares will be distributed to the shareholders of Great West Gold, Inc. The balance of the shares in Windsor will be held by a number of external investors and by the Management of Windsor. These shares are being issued by Windsor after the acquisition of Western Gold Limited by Windsor. This will result in a dilution of Great West Gold, Inc.'s interest in Windor. Dr Colliston reports that the mineralising event at Bouse was a mid-Tertiary epithermal event, causing complex mineralisation of gold, fluorite, barite, and associated metals into previous copper-specularite mineralisation. The prime cause was regional crustal extension along the Plomosa Fault, just north of the Plomosa mountains, which has now been identified as a detachment fault. The "detachment fault" style of deposit is best seen at Copperstone, the biggest gold discovery in Arizona in the past 50 years, where 500,000 oz of gold were profitably by Cyprus Gold in the open pit there. The Mesquite mine is another of this type. Mineralisation at Bouse is located primarily below the fault trace, in the lower plate, in pre-Cambrian rocks older than 1 billion years. Mineralization is found both in steeply dipping quartz veins and in laterally extensive breccia zones. The nature of these structures and associated mineralization over almost all of the 1,300 acres suggest further potential for major detachment fault gold deposits, and other deposits associated with this style of mineralisation. The Bouse area is an historic gold producer, with the Little Butte open pit and underground mines as known producers. Importantly, the historical grade recovered here averaged over 0.4 oz/ton. Around 2/3 of this production was from the Little Butte Mine, where the Arizona Department of Mines and Mineral Resources has recorded that the results of a 16-hold drilling programme showed about 5 million tons of inferred ore grading between 0.05 and 0.30 oz/ton. Others areas of interest within the Company's 1,300 acres are the Brindle Claims, the high grade Arrastre Mine, the Blue Slate Mine and the Flat Fault Mine. At the current gold price of approximately US $460/oz, this provides a value estimate for the deposit in the range of up to $600 million. This estimated gold resource is for the little Butte area only, and does not include any potential from the remainder of the property.
About Great West Gold Inc:- Great West Gold, Inc. (http://www.greatwestgold.com) is an aggressive gold exploration company that has acquired certain rights to mine for minerals, primarily gold, in Arizona.
Statements contained in this press release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based largely on the Company's expectations and are subject to a number of risks and uncertainties beyond the Company's control, including but not limited to economic, competitive and other factors affecting the Company's operations, management team effectiveness, expansion strategies, available financing, market prices and recovery costs, government regulations involving the Company, facts and events not known at the time of this release, and other factors discussed in the Company's filings with the Securities and Exchange Commission. These statements are not guarantees of future performance and readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company undertakes no obligation to update publicly any forward-looking statements.
This release was issued through Major Newswire (http://www.majornewswire.com)
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