Shares in Great Western Mining Corporation PLC (AIM:GWMO) surged 11% in early trading on Wednesday after the company announced that construction of its gold and silver mill in Nevada is now substantially complete, and revealed plans to expand the project into a fully-fledged commercial operation.
The company said its Western Milling joint venture, located near Mina in Mineral County, has secured all key environmental permits and passed a state inspection, clearing the path for trial production to begin.
But rather than proceed on a limited, piecemeal basis, Great Western now intends to seek external financing and bring in an experienced mine engineering group to scale the mill for third-party material processing.
Chairman Brian Hall said the soaring price of gold had changed the equation, turning what was a modest processing venture into a potential revenue generator for the region.
With no other commercial mill nearby and rising interest from local claim owners, the company sees an opportunity to capture a wider slice of Nevada’s gold market, without returning to shareholders for additional funding.