Wednesday, 1st November 2006 (3072 views)

Great West Gold has declared that in order for its stockholders to determine a better understanding of the company's value, it is to make related information available.

The company's chairman of the advisory committee, Dr Wayne P Colliston, is in the process of making public a report first compiled back in 2004 relating to the Mockingbird gold property.

Mr Colliston has been required to make amendments to cater for the change in gold price, as in August 2004, the price of gold stood at $400 (£210) per ounce whereas it has hovered around the $600 (£315) per ounce mark throughout October.

The updated report will be given to stockholders and the value of the property is expected to be much higher than the 2004 figure, not only because of the rise in gold price but also the value of the 16 gold placers situated at the Mockingbird site.

Mockingbird gold mine is located 50 miles away from Las Vegas and is owned by Golden Sierra, which Great West has a 49 per cent shareholding in.

 

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