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Great Western Mining, the USOP fallout continues, drill results don't wash

Tom Winnifrith Saturday 11 May 2013

 

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Shares in AIM cesspit listed Great Western Mining (GWMO) tanked on Friday after an RNS which – in the wake of the US Oil & Gas (USOP) and Teknomining debacles – simply does not was. At 2.55p and capitalised at just £2 million this company is heading rapidly towards having shares of “toast investment grade.” Its problems are manifest but the history of it and other companies established by Liam McGrattan and cronies is the issue.

With every McGrattan resources promote we start with the big claims. The shares motor ahead. The placings ensue. And then McGrattan steps down from the board to pursue other business interests, run a Paris hedge fund or whatever. Then cronies such as Nial Rind step down. And then with USOP and Teknomining we have now firmly established that the claims made were sheer 100% bollocks.

We have yet to establish how many shares (for which they paid sod all) in USOP and Teknomining McGrattan and his cronies sold, when they sold and at what price. That would be fascinating data I suspect.

Great Western was a tad different in that as its front man it has Emmett O’Connell who arrived with a half decent reputation. But

 

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Tom Winnifrith is the editor of TomWinnifrith.com. When he is not harvesting olives in Greece, he is (planning to) raise goats in Wales.
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