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09/06/2011

Great Western Minerals' Jim Engdahl updates Proactive on the company's "mines to metals" strategy

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Additional Information
Market: TSX-V
Sector: General Mining - Rare Earth Minerals
EPIC: GWG
Latest Price: C$0.39  (4.00% Ascending)
52-week High: C$0.98
52-week Low: C$0.30
Market Cap: C$162.44M
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Great Western Minerals Group
www.gwmg.ca

Great Western Minerals Group Ltd. is a Canadian-based company with six rare earth exploration and development properties in North America with an option on a sizable additional property in South Africa. In addition, as part of the Company’s strategy to pursue a vertically-integrated business model, the Company's wholly-owned subsidiaries of Less Common Metals Limited located in Birkenhead UK, and Great Western Technologies Inc., located in Troy, Michigan, produce a variety of specialty alloys for use in the battery, magnet and aerospace industries. These "designer" alloys include those containing copper, nickel, cobalt and the rare earth elements.

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Great Western Minerals confirms intent to purchase remaining 80% of Rare Earth Extraction Co.

22nd Nov 2010, 6:47 pm

Rare earths processor Great Western Minerals (TSX:V - GWG) said Monday it intends to make an all-cash offer to purchase all of the approximate 37.8 millon shares not already held by the company in Rare Earth Extraction Co. (Rareco), at a price of 3 South African Rand per share (US$0.43).

Currently, Great Western holds a 20.8% a stake in Rareco, the owner of the Steenkampskraal mine in South Africa. It also signed an off-take agreement for 100% of the rare earth elements produced at the Steenkampskraal mine.

"The offer to purchase the remaining outstanding Rareco shares is an extremely important event in the execution of our company’s strategy," said Great Western president and CEO Jim Engdahl.

"Increasing our ownership position in Rareco significantly strengthens our plan to become a fully integrated rare earth producer."

The deal is subject to shareholder and regulatory approvals.

Great Western's specialty alloys are used in the battery, magnet and aerospace industries. The company also holds interests in seven rare earth exploration and development properties in North America.

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