# GWR - GWR Group



## master_luke (3 July 2007)

Iron Ore Explorer in Mid-West Region

Current Market Cap $250M
Current JORC resource 50MT @ 61% Fe 

Estimated resource 250MT+

Looking to break out in the past month, with above average volume and has appeared to be held back by share price manipulation especially the closing price, since hitting $2.55. I have been watching closely and every run up each day seems to be stopped by a large sell off. Possibly due to long rumoured merger with Fairstar Resources.

Appears to be the very last Fe Explorer in the region to shoot north.

Strachan Report looks promising purely based on fundamentals and shows its current undervalued state.

Based on price movements twelve months ago, GWR appeared to do very well first two weeks of July. It looks to do the same again this year, IMO i think this is the last few days before a/the break out.


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## Drubula (28 July 2007)

*Re: GWR - Golden West Resources*

Exciting times for this baby. I think after 31 July 2007 the results will ensure the SP rise the scutinulla way. $5.00 here we come. Cheers. DYOR


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## greenfs (16 October 2007)

*Re: GWR - Golden West Resources*

This is my next prospective buy. I am looking for a bit of valuation expertise and will probably speak with YT.

I am attaching a report dated 06/2007 as obtained from the company's website and ask the following question...

Can anyone tell me what would happen to GWR's sp in the event that given time the ore resource was confirmed to be larger than that presently confirmed by Fortescue (FMG)?

View attachment GWR Report 20070621.pdf


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## greenfs (23 October 2007)

*Re: GWR - Golden West Resources*

I am expecting big things from this share shortly. I would appreciate thoughts from anyone based upon the trends appearing on the graph enclosed herewith:


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## gtsman_05 (25 October 2007)

*Re: GWR - Golden West Resources*

I'd just like to say, that i have had PLENTY of time to accumulate this beast... and boy am i horribly, horribly overexposed to this company.

*RESOURCE UPGRADE DUE ANY DAY *(MANAGEMENT QUOTED IN THE ANNUAL BY 31/10) Volume in the previous two days were two of the biggest days of the year for GWR.

I have this song in my head and just will not leave... It's that tune by "The Automatic" ..... goes along the lines of.... """What's that coming over the hill is it a monster?? is it a monster??"""

Dont forget... FIVE PROMINENT RIDGES OF HAEMATITE BIF [A,B,C,D,E], over an average 30km strike length, at some parts in excess of 206m depth [C4 strike].

Grading up to 69.5% Fe has been drilled (average 61% in maiden 50MT Inferred Resource)

69.5%!!!!!!!!!!!!!! thats about as close to pure haematite iron you could find
And its in Australia, not Cameroon!

Cheers!


DYOR - Read the 2007 Annual report along with the Strauchan Research Report from June, the combination of the two pretty much says all you need to know.


Good luck all GWR S/holders (the 2,500 of us anyway)


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## Drubula (27 October 2007)

*Re: GWR - Golden West Resources*

I have been following this baby since its birth. I will say that I too have heavily invested in this one. Gossip in the markets suggest that GWR has a potential find of an iron ore monster of all monster resources findings in last 30 years. I have read the Strachan Report and certainly there were comments of a potential resource upgrade to 100mil+ before XMAS. I hope the People doing the Due Diligence on GWR currently in relation to the takeover either prove or disprove this fact, as It would DEFINATELY  have an impact on how i respond to FAS's bidders statement. I am of the opinion that if the resource potential is there, then boy FMG here we come.

DYOR and certainly do not rely on my opnions as they are opnions only for any decison making purposes.


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## Pat (30 October 2007)

*Re: GWR - Golden West Resources*

Like the few here who have posted, I too like the GWR story. High grade 65%+ haematite and the potential for big increases in the size of the resource. Only concern is the high Si in some of the samples, what impact if any will this have?
Much upside IMO. I'm in today as the heat in the iron sector seems to be getting hotter. The $2.50 mark seems clear resistance, we may just see the SP move up and hug the top bollinger band and break it. Now i'm no chartist, only use charts for indicative purposes, however GWR hasn't closed above $2.50 in consecutive days for 6 months+ and with  today being the 2nd day in a row gives me more confidence of a potential run. 
Now to sit back and... relax?


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## Wysiwyg (30 October 2007)

*Re: GWR - Golden West Resources*

Here is an article about iron ore out today and the price negotiations coming up.BHP (as you would expect) see iron ore in demand till 2015.Maybe up to US$120 per tonne or more for lump ore.


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## Annwn (30 October 2007)

*Re: GWR - Golden West Resources*

Just to expand on pats' chart, the 2.50 -2.55 resistance level, strong trading days have taken the price up to this level on 4 occasions since Feb 07, but unable to go further.
Is it market manipulation or just a strong psycological barrier?


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## 3 veiws of a secret (31 October 2007)

*Re: GWR - Golden West Resources*

To my honourable gentleman Greenfs, on the evidence supported by the "Strachan Report" ( link-pdf file supplied above dated 23/10/07) if all is what it's claimed to be said/stated ,GWR has no reason to be a tiddly small cap share. Haematite ore of say 65%+ seem very attractive with either $25 or $19 to get it transported to either port(Oakajee seems a prefered cost effective infrastructure link).I cannot see if they have acquired plant/machinery to support pending production in the near future.

Plus I've cut/pasted this additional info on other Au tenements in their portfolio........
                                             ~
Doherty's (Gold): The Doherty's project is located in the Barrambie Greenstone Belt approximately 100 kilometres south west of the Wiluna West project. The project contains an indicated resource of 25,700 tonnes at 23.8 g/t Au for a contained 20,430 ounces. A review of all geological data is in progress with a view to explore for potential extension at depth and possibly seek out a joint venture partner in 2007. 
Bullabulling South (Gold): 
The project is located 35 kilometres southwest of Coolgardie at the Southern end of the highly mineralised Coolgardie – Bullabulling Greenstone Belt.. The mineral deposits within 10 kilometres of the project have produced more than 1 million ounces of gold. Ramelius Resources Limited is currently earning up to a 75% interest in this project, with GWR retaining a 25% interest. 
                                             ~
Plus it does'nt seem to have any further pending Corporate activity this year......but no doubt holders of the share are waiting for info/announcements of the drilling reports,and with all the above ,I can see why your intrigued by this share.
My only concerns are the scheduling of infrastruture ie when will it commence ,will the futures of Fe support this project (Strachan quotes BHP optimism up to year 2015)......will the likes of BHP/FMG /MGX steal the cake?.Also  Strachan reports small scale production in 2009>2011 in light of this fact are there other shares that will outperform GWR ?
Lastly the share trading history this last month is reflecting upside,see dates say from 24/10>30/10/07......
30-10-2007 $2.550 $2.550 $2.450 $2.530 297,425 
29-10-2007 $2.290 $2.550 $2.270 $2.510 380,448 
26-10-2007 $2.320 $2.320 $2.250 $2.280 101,910 
25-10-2007 $2.290 $2.320 $2.230 $2.320 99,165 
24-10-2007 $2.300 $2.330 $2.200 $2.240 416,603 
23-10-2007 $2.250 $2.300 $2.200 $2.300 448,250 
22-10-2007 $2.200 $2.290 $2.170 $2.190 228,435 
19-10-2007 $2.210 $2.230 $2.090 $2.230 222,913 
18-10-2007 $2.150 $2.220 $2.150 $2.220 102,366 
17-10-2007 $2.150 $2.160 $2.060 $2.080 233,643 
16-10-2007 $2.200 $2.220 $2.120 $2.180 160,773 
15-10-2007 $2.250 $2.260 $2.070 $2.110 186,218 
12-10-2007 $2.200 $2.280 $2.200 $2.260 301,190 
11-10-2007 $2.120 $2.170 $2.120 $2.170 132,467 
10-10-2007 $2.110 $2.140 $2.060 $2.090 59,642 
09-10-2007 $2.100 $2.180 $2.100 $2.150 18,360 
08-10-2007 $2.110 $2.150 $2.030 $2.150 128,995 
05-10-2007 $2.110 $2.140 $2.110 $2.110 50,530 
04-10-2007 $2.190 $2.190 $2.070 $2.080 34,556 
03-10-2007 $2.100 $2.140 $2.090 $2.100 44,865 
02-10-2007 $2.220 $2.230 $2.150 $2.200 41,160 
01-10-2007 $2.170 $2.220 $2.150 $2.200 53,499 
28-09-2007 $2.200 $2.200 $2.060 $2.060 49,621 

 I will watch this share carefully in the next few days....many thanx Greenfs.


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## 3 veiws of a secret (31 October 2007)

*Re: GWR - Golden West Resources*

So I read up on the share as the birds are getting restless this morning ,and decide to look in the recent announcements for the share ,and TRADING HALT today?????? Seems a merger is on the cards with Fairstar Resources=4 shares to 1 GWR?

Shareholders Buying  
Date Shareholder Previous % New % Shares Traded 
15-10-07 Fairstar Resources Limited --% 19.81% n/a 
04-07-07 Falak Holding LLC 13.32% 14.33% 530,858 

Looks like the board is distracted .....for the time being!


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## Wysiwyg (31 October 2007)

*Re: GWR - Golden West Resources*

With a possible rise in iron ore prices the iron ore mining fans would have to be happy about the Mid-West W.A. growth phase.GWR looking the part at present with a target of 200 million tonnes or more.Caught my attention at $2.10 and skipped away.This page offers a comparison of the companies in the alliance.    *Information only*.


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## greenfs (31 October 2007)

*Re: GWR - Golden West Resources*

Ann after trading halt is another upgrade to the WW ore resource. Sp heading northwards @ $2.60 and rising.


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## Pat (31 October 2007)

*Re: GWR - Golden West Resources*



Annwn said:


> Just to expand on pats' chart, the 2.50 -2.55 resistance level, strong trading days have taken the price up to this level on 4 occasions since Feb 07, but unable to go further.
> Is it market manipulation or just a strong psycological barrier?



Perhaps it is manipulation Annwn... the SP was heading north then a massive seller appeared and scarred the buyers off to an extent. Interesting how things can be manipulated.


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## Wysiwyg (31 October 2007)

*Re: GWR - Golden West Resources*



Pat said:


> Perhaps it is manipulation Annwn... the SP was heading north then a massive seller appeared and scarred the buyers off to an extent. Interesting how things can be manipulated.




You mean the large holder that hit the NEXT STOP button and wishes to leave the bus.Must be a good feeling being able to do that.I would not know.There may be friends under the seats wanting to leave next stop as well so tomorrow will  reveal at what price the blockers want to sit.


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## Pat (31 October 2007)

*Re: GWR - Golden West Resources*



Wysiwyg said:


> You mean the large holder that hit the NEXT STOP button and wishes to leave the bus.Must be a good feeling being able to do that.I would not know.There may be friends under the seats wanting to leave next stop as well so tomorrow will  reveal at what price the blockers want to sit.



Exactly, I do not understand the logic of doing so though. There may be many friends waiting, but sometimes you see a big buyer take out the NEXT STOP, and I'd imagine the seller would feel quite the fool, I do not wish to feel that emotion.


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## Drubula (3 November 2007)

*Re: GWR - Golden West Resources*

IMO I would have exepcted the SP to be around the $3.oo mark What has changed with this stock since Dec 06 when it was sitting pretty @ $3.35. Capping seems to always a possiblity, when one buys at @$2.72 only to have someone dump stock at 10cents less whilst the SP was moving north. This will only improve if and when the big players move in assuming the takeover from FAS is not a fait accompli.
DYOR but still too early to assess where the SP is heading


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## greenfs (21 December 2007)

*Re: GWR - Golden West Resources*

We have another trading halt. I suspect that we might be about to receive a significant JORC update. Does anyone else have any gossip?


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## gtsman_05 (8 January 2008)

*Re: GWR - Golden West Resources*

Monster volume levels today and over the past two weeks for this normally very quiet stock...

Did anyone else notice a change in the tenements late last month?

It appears at Wiluna West they are no longer Exploration tenements 

They now start with the letter "M"


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## trillionaire#1 (5 April 2008)

*Re: GWR - Golden West Resources*

wow, nice to see a healthy gain in this stock today,59%!!!
lifts my portfolio a little out of the doldrums
Fairstar has been trying hard to take over this company ,offering
shareholders 7 Fairstar shares for 1 Golden West share .im not taking the deal
and GWR  management advises all to reject the offer.
Portman ltd bought 11 million shares of GWR for 9.5 million dollars.

"Portman want to expand or make sure they extend the life of their projects,"
Gavin Van Der Wath,an analyst at BBy ltd. in Sydney, said by phone.
"companies are realizing you need to lock up resources of iron ore."

investors seem to react very possitively to  Portmans large purchase of stock, hopefully this big uptrend will continue going forward.:drink:


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## gtsman_05 (30 May 2008)

*Re: GWR - Golden West Resources*

Portman is coming!!

The australian says Portman are making an application to FIRB

http://www.theaustralian.news.com.au/story/0,25197,23780188-5005200,00.html


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## YOUNG_TRADER (1 April 2009)

*Re: GWR - Golden West Resources*

With a *mkt cap of $44m* (145@30.5c) and *$30m in cash *

a *126Mt's@58%Fe JORC*and upside *target  of 470Mts@58%Fe *I think GWR is a no brainer takeover target

I think it is just a matter of time before Portman pull the trigger

When and how much is another question, will be interesting to see if GWR lasts at these levels for say another 6-12months


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## Sean K (1 April 2009)

*Re: GWR - Golden West Resources*



YOUNG_TRADER said:


> With a *mkt cap of $44m* (145@30.5c) and *$30m in cash *
> 
> a *126Mt's@58%Fe JORC*and upside *target  of 470Mts@58%Fe *I think GWR is a no brainer takeover target
> 
> ...



Cripes, that's as crazy as BRM was a few months ago.

Would have to say that cash backing has put a floor inthem here around 25c.


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## YOUNG_TRADER (17 April 2009)

*Re: GWR - Golden West Resources*

About to attempt a break out at 40c?


Interesting looking chart, one of those ascending triangles ain't it Kenna? with higher lows but top resistance line at 40c???

Wonder if its sentiment or news driven


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## Sean K (17 April 2009)

*Re: GWR - Golden West Resources*



YOUNG_TRADER said:


> About to attempt a break out at 40c?
> 
> 
> Interesting looking chart, one of those ascending triangles ain't it Kenna? with higher lows but top resistance line at 40c???
> ...



Whole bunch of charts looking like this. All giant slippery dips. Just wonder how high the end of the slide goes?

Mostly overall market sentiment I think.


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## YOUNG_TRADER (22 April 2009)

*Re: GWR - Golden West Resources*

Having another crack at the 40c resistance line

I think this may have something to do with FAS's announcement 



Shareholding in Golden West Resources
Fairstar Resources is the largest shareholder in Golden West Resources, holding approximately 18.3% of the ordinary
shares of GWR.
Fairstar has received a large number of approaches from various different parties, both domestically and internationally,
regarding the Company’s intentions for its holding in GWR. Similarly, Fairstar has also received numerous inquiries from
our shareholders in relation to our GWR shareholding.
Our shareholding in GWR represents a valuable, strategic capital investment for the Company. As previously stated, your
Board’s objective is to maximise the value of the holding in GWR for the benefit of Fairstar and our shareholders, and this
encompasses the Company’s desire to further explore and develop our own key iron, gold and uranium projects.
With this goal in mind the Company has undertaken an exhaustive review process of the opportunities in relation to its
GWR shareholding, and is now in the final stages of confirming its intention in respect of this matter and we hope to be
in a position to announce an outcome to the market in the near future.


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## YOUNG_TRADER (23 April 2009)

*Re: GWR - Golden West Resources*

Looks like the epic battle at 40c resistance still continues over at GWR, c'mon ya bum clear it!!!!!

Any charties wnaa suggest next stop if 40c properly cleared/confirmed?
I see maybe 80c/85c based on the chart being the high volume bounce off level in April 2008, though for all I know there's probably 10 different chartting patterns in their, inverted this, head and shoulders that, saucepan on the frypan with the tea kettle!


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## YOUNG_TRADER (5 May 2009)

*Re: GWR - Golden West Resources*

Looks to have finally broken out from 40c

Next stop 80c based on chart

Lots of activity this qtr

Iron ore JORC upgrade + scoping study

Gold JORC review and project assesment

Full company review etc etc


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## Sean K (5 May 2009)

*Re: GWR - Golden West Resources*

Had a great few weeks. 

Not sure about 80c, LN. How do you get that?

Plus, new resistance since that past chart parked around 45, so not sure if it's broken yet.

Certainly a floor put in and it's in a great uptrend since mid March. 

Lots of charts like this though...

Still looks cheap on the funnies.


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## adobee (19 October 2009)

*Re: GWR - Golden West Resources*

GWR seems to have had no real recover whilst the reast of the market has been strongly coming back online..   There is alot of potential here if there is a resource upgrade .. Moved into this today .. Fingers crossed there is not a cap raising tomorrow !


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## lazyfish (19 October 2009)

*Re: GWR - Golden West Resources*



adobee said:


> GWR seems to have had no real recover whilst the reast of the market has been strongly coming back online..   There is alot of potential here if there is a resource upgrade .. Moved into this today .. Fingers crossed there is not a cap raising tomorrow !




I agree there's a lot of potential, but this is even beyond my investment horizon...

They seem to be burning cash like crazy (see last few quarterly). At this rate I think you are right about another cap raise. Good thing the last one was done at such a high price though. Management owns little stake which gave me no confidence. The port will be constructed as early as in 2014 (optimistic case, see the official port document). Trucking distance to the Esperance rail is about 300km (add another $30ish to transportation cost). Therefore IMHO shipping is not likely to happen before 2014.

So yeah, best case scenario is it gets taken over, but with 3 cornerstone shareholders I doubt that is going to happen?


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## adobee (19 October 2009)

*Re: GWR - Golden West Resources*



lazyfish said:


> I agree there's a lot of potential, but this is even beyond my investment horizon...
> 
> They seem to be burning cash like crazy (see last few quarterly). At this rate I think you are right about another cap raise. Good thing the last one was done at such a high price though. Management owns little stake which gave me no confidence. The port will be constructed as early as in 2014 (optimistic case, see the official port document). Trucking distance to the Esperance rail is about 300km (add another $30ish to transportation cost). Therefore IMHO shipping is not likely to happen before 2014.
> 
> So yeah, best case scenario is it gets taken over, but with 3 cornerstone shareholders I doubt that is going to happen?




all true..  but I think with a resource upgrade the markets attention will be again focused and there will be some substanial movement..  There is little in the way of resource stocks which have remained at 08 lows..


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## adobee (26 October 2009)

*Re: GWR - Golden West Resources*



adobee said:


> all true..  but I think with a resource upgrade the markets attention will be again focused and there will be some substanial movement..  There is little in the way of resource stocks which have remained at 08 lows..




RESOURCE UPGRADE - 

Significant resource upgrade at the Wiluna West Hematite Project Indicated Mineral Resource Estimate category totalling 42 million tonnes (Mt) at 60% Fe (30% of the total resource) The total volume of the identified Mineral Resources has *increased by 28%* since the last Mineral Resource Estimate The total Mineral Resource Estimate is now 141 Mt at 59% Fe with deleterious elements within sales specifications


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## Sean K (26 October 2009)

*Re: GWR - Golden West Resources*

Now trading at 26c a ton for it's DSO.

The average on my list is $8.40 including the producers.

If only they could get it to market?

Where's the closest rail line?


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## Sean K (26 October 2009)

*Re: GWR - Golden West Resources*

Anyone have any idea how they could have spent $2.3m on administration last quarter? Must be some damn fine stationary they're handling over there in Wiluna.

Maybe it was the directors salaries that combined come to about $450k pa each. 

Isn't this an explorer? Hooly dooly!! 

Their rem should be in performance options not cash! 

Hmmmmmm


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## adobee (26 October 2009)

*Re: GWR - Golden West Resources*

GWR has signed a foundation customer agreement with Yilgarn Infrastructure Limited to use rail infrastructure, berth and storage facilities, industrial facilities, ship loading and unloading and other infrastructure proposed to be financed and built by Yilgarn Infrastructure at the Port of Oakajee.

Yilgarn Infrastructure has also entered into a foundation customer and infrastructure agreement with Mid West Corporation Limited (now owned by Sinosteel).

Under the terms of the foundation customer agreement Yilgarn Infrastructure has undertaken to finance and build a railway connecting GWR's project at Wiluna West, via Weld Range junction, to the proposed port at Oakajee providing that all the required government approvals are given to the parties. GWR has taken a 20% interest in Yilgarn Infrastructure Limited. Yilgarn is the reserve proponent for construction of the port at Oakajee and GWR believes it retains rights to construct a railway network in the Midwest to transport ore from various mines to the coast. Yilgarn is backed by a consortium of powerful Chinese state-owned companies and has a line of credit with the Exim Bank of China. GWR believes that Yilgarn is the company with the greatest ability to construct a railway from Wiluna to the coast taking in Midwest's Weld Range deposits and linking up with a line from Gindalbie's Karara deposit. The railway will be open access and will encourage the development of additional mining operations in the Midwest.


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## lazyfish (26 October 2009)

*Re: GWR - Golden West Resources*



kennas said:


> Anyone have any idea how they could have spent $2.3m on administration last quarter? Must be some damn fine stationary they're handling over there in Wiluna.
> 
> Maybe it was the directors salaries that combined come to about $450k pa each.
> 
> ...




Precisely why I haven't gotten into this company...

The nearest rail at present is probably the one that Portman is using. Distance is about 300km or so. I think that kind of trucking distance is gonna erode most of the margin (if any left). The new port is the best bet but I am uncomfortable with the cash burning.


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## adobee (26 October 2009)

*Re: GWR - Golden West Resources*



lazyfish said:


> Precisely why I haven't gotten into this company...
> 
> The nearest rail at present is probably the one that Portman is using. Distance is about 300km or so. I think that kind of trucking distance is gonna erode most of the margin (if any left). The new port is the best bet but I am uncomfortable with the cash burning.




Now trading at 26c a ton for it's DSO.
The average on my list is $8.40 including the producers.

Pretty attractive as a take over target..  cash burn wont inhibit this


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## lazyfish (26 October 2009)

*Re: GWR - Golden West Resources*



adobee said:


> Now trading at 26c a ton for it's DSO.
> The average on my list is $8.40 including the producers.
> 
> Pretty attractive as a take over target..  cash burn wont inhibit this




Yup I agree on the basis of EV/tons, GWR is possibly one of the cheapest. No argument about that whatsoever. The quality of ore is also very good, no question about that either.

As for a take over target, I have thought about it as well, more importantly the management seems to have thought about it too. Therefore all 3 significant holders (Fairstar, Hunan and Portman) are holding over 10%. Interestingly Hunan has just over 10% (10.06%) for a blocking stake. Would be kinda hard for anyone to take it over don't you think?


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## Sean K (30 October 2009)

*Re: GWR - Golden West Resources*

Just dropped through 35c support yesterday in the panic sell off. Will probably recover a little today, but now trading at 20c a ton for DSO. That is crazy stuff. Market is saying that this is too far from infrastructure to mine, or is not a takeover target. OR, it's off the radar! 

Currently the cheapest on the list. 

Good support down there by the looks, but market still skittish. Or, was that the short correction we needed before pushing on?


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## swm79 (30 October 2009)

*Re: GWR - Golden West Resources*



kennas said:


> Just dropped through 35c support yesterday in the panic sell off. Will probably recover a little today, but now trading at 20c a ton for DSO. That is crazy stuff. Market is saying that this is too far from infrastructure to mine, or is not a takeover target. OR, it's off the radar!
> 
> Currently the cheapest on the list.
> 
> Good support down there by the looks, but market still skittish. Or, was that the short correction we needed before pushing on?




i like the look of your chart there kenna... and the DSO... geez... so low!!

dont know if its the end of the correction... maybe just the beginning. big AUD/USD carry trade going on... if the USD raises interest rates now we'll go under because the US investors (and everyone else getting out of USD over the past few months) will be sucking us dry!

if they fixed the infrastructure problem it would look REALLY good for a "punt"


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## Skip1jz (30 October 2009)

*Re: GWR - Golden West Resources*

There has been strong volume since the beggining of september yet the share price has done little more than trade in the band of 0.35 - 0.4. Hopefully for holders all the sellers have just about all moved on.


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## adobee (16 November 2009)

*Re: GWR - Golden West Resources*

Out of this now... expecting a retrace.. not a bad run..
will keep my eye on it still very very cheap ..
Directors still a concern


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## chansw (23 November 2009)

*Re: GWR - Golden West Resources*

http://www.wabusinessnews.com.au/en-story/1/76889/GWR-surges-on-takeover-speculation

*GWR surges on takeover speculation*
23-November-09 by Rebecca Lawson


Golden West Resources is at a loss to explain a share price surge of 92 per cent over the past three trading days as speculation emerges of a possible takeover. 

In a reply to an Australian Securities Exchange enquiry today, Golden West said it was not aware of any information that prompted its share price to jump from its closing price of 51 cents on Thursday to a high of 98 cents today. 

Trading of Golden West shares have also increased with more than 2.7 million shares traded in today's session as at 15:50 AEDT. Shares in the company last traded at 79c. 

Shares in the Osborne Park-based company have been on a dramatic rise since November 5 when it traded at 31.5c, and then received another upward run a week later following news of high-grade hematite mineralisation at its Joyners Find project in the Mid West. 

Golden West at the time said it expects to mine Joyners Find, part of the Wiluna West project, before the end of calendar 2010. 

Speculation on investor chat room HotCopper suggest a possible takeover of Golden West by US company Cleveland Cliffs, which last year successfully completed its acquisition of Mid West iron ore miner Portman.


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## Sean K (24 November 2009)

*Re: GWR - Golden West Resources*

Gone from trading at 20c a ton to 90c a ton in a few days. It was trading too cheaply even without the spec takeover rumours and should have been about the average price for a DSO holder, at around $1.00 ish so probably well priced now.The last takeover went at $1.60 a ton didn't it? Must check. So, maybe maybe some room to move, however, if no offer comes you'd expect it to drop back considerably once the excitement drops off and profits have been taken. Was the cheapest DSO spec on the list, now coming in third. 

(note: If you treat BRM as beneficiated hematite/DSO then it's still by far the cheapest at 12c a ton. Crazy..)


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## jonojpsg (24 November 2009)

*Re: GWR - Golden West Resources*



kennas said:


> (note: If you treat BRM as beneficiated hematite/DSO then it's still by far the cheapest at 12c a ton. Crazy..)




Note:  If you treat SDL as beneficiated haematite/DSO then it comes in at about the same... I agree, crazy!


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## geea (28 November 2009)

*Re: GWR - Golden West Resources*

It will be interesting to see if there are any announcements on ownership to see who is buying and selling.


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## bilza (10 December 2010)

*Re: GWR - Golden West Resources*

This company has been going up and down on the same spot for a long, long time, but after today's announcement it's definitely going backwards.
Can you believe that the directors are giving up 35% of wiluna gold resources for a block a dirt in Africa to a UK private company.
This plot of dirt hasn't been drilled, but they say they've checked out the termite mounds.
To give up 35% of wiluna assets on the hearsay of gold in the ground because of termite mounds is absolute bulldust. 
To top it off, it's coming from a private UK company. The UK invests billions of pounds into mining and are always looking for new investments. This tells me that, they've dragged it around the UK and no one was interested in this plot of dirt.
They have also stated that "a number of north east trending structures are known to host gold". That doesn't mean that there is a single ounze of gold 
on this plot of dirt.
"A bird in the hand is worth two in the bush". This saying fits perfectly.
Like I said this company is now going backwards, someone has to make a move to replace these directors. They will have my vote.


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## System (5 December 2013)

On December 5th, 2013, Golden West Resources Limited changed its name to GWR Group Limited.


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## greggles (28 February 2018)

Some strange trading occurring with GWR Group today. Not quite sure what is going on as there has been no announcement. GWR closed at 8c yesterday and has spiked to 18c today on volume of over 500,000 shares. 

I expect the ASX will issue a please explain shortly.


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## Country Lad (28 February 2018)

Probably tungsten.  TGN has risen 67% over the past 5 days on their tungsten play. I had noted that GWR's Dec report said:

_*GWR has recently announced exceptional results from a 33 hole RC drilling program completed in August 2017, which followed a highly successful maiden program in 2016 (refer to ASX announcements dated 15 March, 19 September, 12th October and 8th November 2017).*_

I have been playing with both, in and out of TGN the last couple of days and in and out of GWR today.  Made a bit, in hindsight should have stayed in longer.  I haven't had a chance to search for other possible tungsten plays - life is interfering.


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## greggles (28 February 2018)

Thanks for the heads up, Country Lad. I wasn't aware of those drilling results. The share price gains today make perfect sense in that context.


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## Country Lad (28 February 2018)

greggles said:


> Thanks for the heads up, Country Lad. I wasn't aware of those drilling results. The share price gains today make perfect sense in that context.




Just took the punters a few months to react to the report, TGN probably being the trigger.


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## greggles (1 March 2018)

Country Lad said:


> Just took the punters a few months to react to the report, TGN probably being the trigger.



It appears you were spot on Country Lad. In yesterday's response to a price and volume query from the ASX, the company made reference to the drilling results you mentioned.

GWR was up another 52.38% today to finish at 32c. At one point during the day the share price had reached 41c. A great result for those who recognised the potential of those drilling results in the context of a rising tungsten price and got on board early.


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## greggles (15 January 2019)

After forming a solid base of support at 10c, GWR has made a move north this morning on the back of encouraging high grade drilling results at the at the Golden Monarch, Eagle and Emu prospects at the company's Wiluna West Gold Project. Here are the highlights:






Some nice intercepts there. GWR gapped up this morning following the announcement and is currently trading at 13.5c, up 22.73% on yesterday's close. After several months of languishing around 10c-12c (except for that one brief share price spike at the end of October) it is good to see GWR finally heading in the right direction again.


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## barney (16 January 2019)

greggles said:


> *Some nice intercepts there*.




They've hit some rich narrow veins there by the looks which is positive but it perhaps still too "nuggetty" for the market to get excited. Not sure how to read this one yet  ….  Did they release their last Quarterly yet??


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## frugal.rock (5 April 2022)

A 3 peak crown... 🏰
Makes me wonder what's goin on.
I understand they are actively shipping iron ore in WA, if my memory serves me correctly, sharing boats of ore shipments with CUF ?
Feb was a record production month apparently.
Have been meaning to look into this one further, but haven't got that far. Chart looks a little interesting imo.






Probably thinking meh, from the long term chart?
It's the shorter term that gets my goat. Possibly still early in the up trend?


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